Latest / The Money Part / Ep 4 | The Soft Close: Turn Your Year-End CPA Meeting Into a Strategy Session

Transcript

Ep 4 | The Soft Close: Turn Your Year-End CPA Meeting Into a Strategy Session · The Money Part

• 0:00
  SPEAKER_01: Hello, I'm Barb Fisher.
• 0:02
  SPEAKER_01: I am the owner of Fisher Bookkeeping and Fisher Business Management and Dance into Profit.
• 0:07
  SPEAKER_01: I'm also a certified profit first professional, and we are here today to talk to you about the money part.
• 0:12
  SPEAKER_01: This is the part you weren't trained on in your business, but is super, super important.
• 0:17
  SPEAKER_01: Today we're going to be talking about a move you can make right now in October that turns your CPA meeting into like an from an everything's fine into an actual strategy session.
• 0:27
  SPEAKER_01: I have Juliana with me.
• 0:29
  SPEAKER_01: She helps guide us through the questions.
• 0:32
  SPEAKER_01: And we'll just get straight into it.
• 0:35
  SPEAKER_00: All right.
• 0:36
  SPEAKER_00: So tell me, explain to me as a non-bookkeeper, non-accounting professional, what is a soft close?
• 0:42
  SPEAKER_00: What can I expect?
• 0:44
  SPEAKER_01: So your bookkeeper should, and we're bookkeepers too, your bookkeeper should be closing your books each month so that you're getting some level of reports each month.
• 0:52
  SPEAKER_01: What's different between what I would call a regular monthly close and a soft close or even a full close is making sure you've got everything.
• 1:01
  SPEAKER_01: So if we're going to do a soft close that you're going to take to your CPA, I want to see all the stuff that you've paid for on your personal credit card and I want to give you a reimbursement.
• 1:10
  SPEAKER_01: I really want all the expenses in the business that you can muster up to this date in the books.
• 1:17
  SPEAKER_01: And then when you run those reports for the CPA, your meeting is just more informed.
• 1:24
  SPEAKER_01: So that's what I mean by that.
• 1:26
  SPEAKER_01: And soft close really refers to the fact that we're not going to password protect it.
• 1:29
  SPEAKER_01: If you find something in November that was about September, that's fine.
• 1:33
  SPEAKER_01: We're still going to put it in there.
• 1:34
  SPEAKER_01: We don't, we're not going to offdate it because of that soft close.
• 1:37
  SPEAKER_01: It's simply a time we're all going to have a handshake agreement to try and get everything in there and be as rock solid as possible.
• 1:46
  SPEAKER_00: So a soft close, if I have this right, is about a monthly update to your financials.
• 1:51
  SPEAKER_00: So that means your transactions have been categorized, they've been entered.
• 1:56
  SPEAKER_00: You're trying to get as complete a picture as possible to show the in and the out of all your financials for a particular month, but it's not locked in.
• 2:05
  SPEAKER_00: Is that right?
• 2:06
  SPEAKER_00: It's not locked in.
• 2:07
  SPEAKER_01: And we're going to go further than those things.
• 2:08
  SPEAKER_01: So those things you said are what we do every month.
• 2:10
  SPEAKER_01: But with a soft close, we're going to do a little bit more.
• 2:13
  SPEAKER_01: Has every employee turned in their reimbursements?
• 2:15
  SPEAKER_01: Are there any stale checks out there that we need to pay attention to?
• 2:18
  SPEAKER_01: We're just going to go one more notch.
• 2:20
  SPEAKER_01: That's for us, it's also we like when people do them because we have to do all that stuff when we close for taxes.
• 2:26
  SPEAKER_01: So if we have already pre-done it through October, the the burden we have in January and February is lower because we've already done a really solid check for those things.
• 2:39
  SPEAKER_00: So I'm going to segue for a second.
• 2:43
  SPEAKER_00: How do you find one?
• 2:44
  SPEAKER_00: What questions do you ask?
• 2:47
  SPEAKER_01: Oh, uh, well, if you don't have a CPA, uh, you should ask around and find one.
• 2:51
  SPEAKER_01: They're really helpful.
• 2:52
  SPEAKER_01: They help you file all your taxes.
• 2:54
  SPEAKER_01: You can do them on your own.
• 2:56
  SPEAKER_01: But in this is this is my humble opinion.
• 2:59
  SPEAKER_01: I started having a CPA do my taxes, even though I'm in this business in the George W.
• 3:05
  SPEAKER_01: Bush years.
• 3:06
  SPEAKER_01: And it was at that time that payroll taxes and other taxes became more politically varied.
• 3:17
  SPEAKER_01: So a different administration comes in in the state or in the federal, and taxes change.
• 3:21
  SPEAKER_01: And different states do different things.
• 3:24
  SPEAKER_01: And so now, if you have employees in different states, like in Oregon, um, Portland is quite near to another state, you have a lot of different taxes that you have to comply with.
• 3:35
  SPEAKER_01: And where we are in Portland, there are Multnomah County taxes, City of Portland taxes, state of Oregon, and federal.
• 3:41
  SPEAKER_01: A lot of metropolises have that.
• 3:44
  SPEAKER_01: And if you have business in Texas over$150,000, you have Nexus there.
• 3:51
  SPEAKER_01: Like there's just all these important things that make it so you should not do these yourself.
• 3:56
  SPEAKER_01: So it's too complicated.
• 3:58
  SPEAKER_01: It's too complicated.
• 3:59
  SPEAKER_01: And, you know, with COVID, people moved all over the country.
• 4:02
  SPEAKER_01: And now, like the amount of payroll taxes you have to pay, like, do not do it yourself.
• 4:07
  SPEAKER_01: So finding a CPA, I will say most CPAs I've met do work in many states, and they are very honest about states they don't work in.
• 4:16
  SPEAKER_01: Um, so if you get introduced to somebody who has a business that runs in a way you like or you trust them, like maybe it's your brother's CPA, that's fine.
• 4:24
  SPEAKER_01: Um, but I would be asking around about who has a relationship with their CPA that they enjoy that helps them and that uh they feel like they have at least one meeting a year that really adds value to their business.
• 4:36
  SPEAKER_01: That's what you want out of your CPA.
• 4:38
  SPEAKER_00: I think too, for business owners, it's important to find somebody that hopefully can do your business return and your personal return.
• 4:45
  SPEAKER_00: So if you can get that combo, that's a one-stop shop and they can just take the numbers from your business return, plug them into your personal return.
• 4:52
  SPEAKER_00: So ideally, you find somebody who can do both.
• 4:54
  SPEAKER_01: Agreed.
• 4:55
  SPEAKER_01: And it also helps you.
• 4:56
  SPEAKER_01: Um, I know this sounds crazy, but if you mistakenly use one credit card for personal versus business and you have somebody who sees both of those pictures, it will help you uh fix a lot of those things as you go because they they they are invested in both pictures for sure.
• 5:15
  SPEAKER_00: So this meeting with the CPA in October, why does it matter?
• 5:18
  SPEAKER_00: What's the advantage with meeting meeting your CPA that time of the year?
• 5:23
  SPEAKER_01: Well, you still have time to do any course corrections.
• 5:26
  SPEAKER_01: So it could be um it could be you need a new vehicle and you want it to be in your in your business.
• 5:33
  SPEAKER_01: So you might go in with some goals or wishes that you have.
• 5:36
  SPEAKER_01: Maybe there's equipment you need to buy in the business.
• 5:39
  SPEAKER_01: Maybe you are um wanting to figure out how to lower your tax bill because you don't have anything coming up in your foreseeable future where you might need to produce financials and show profit.
• 5:50
  SPEAKER_01: And so you want to lower it as far as you can.
• 5:52
  SPEAKER_01: I've had client clients that pay their whole next year's rent in December because they're trying to offload cash.
• 5:58
  SPEAKER_01: Now, that creates additional problems in the following year because now that rent expense is gone, but it can help you make decisions about your cash now to help your tax picture be predictable.
• 6:13
  SPEAKER_01: If you're using a system like Profit First, you've got money set aside in your tax account.
• 6:17
  SPEAKER_01: So one question that most of our clients and we always go in with is we've paid our quarterlies and we've got this much money in our tax account.
• 6:26
  SPEAKER_01: Am I good?
• 6:27
  SPEAKER_01: Like, do I need to be saving additional money in these last few months of the year before I actually file in March?
• 6:34
  SPEAKER_01: Do I need to be beefing up that tax account?
• 6:37
  SPEAKER_01: So those are all the sorts of things.
• 6:39
  SPEAKER_01: You're talking about is your tax savings appropriate?
• 6:41
  SPEAKER_01: Are there big purchases you want to make in the business that you know you need to make anyway?
• 6:48
  SPEAKER_01: Like nobody that works in this industry wants you to spend money on things you don't need.
• 6:52
  SPEAKER_01: But if you need it anyway, should you do it this year or next year?
• 6:55
  SPEAKER_01: Are there sometimes there's tax incentives, like, I don't know, like an electric car kind of thing that you want to time when you do things, that kind of thing.
• 7:04
  SPEAKER_01: So that CPA meeting can help you um have some strategy around things you want to buy or need to buy, spending you may or may need to do, saving you might need to do, that kind of thing.
• 7:15
  SPEAKER_01: And then I've seen it in other meetings where this was a long time ago, but we had a law firm that was investing in um like a therapy training program for things that were going on with people that came through the law firm.
• 7:30
  SPEAKER_01: And the owner ended up with questions about does this qualify for RD credits?
• 7:34
  SPEAKER_01: This sort of meeting is the kind of meeting where you can ask those kind of questions and they'll have time.
• 7:39
  SPEAKER_01: This is the time of year in the fall that CPAs have time.
• 7:44
  SPEAKER_01: Like when you're talking to them in March, they want you in and out in like 30 minutes.
• 7:47
  SPEAKER_01: They just don't, they've got so much going on.
• 7:49
  SPEAKER_01: They're working so much that this fall, that fourth quarter is a really great time to meet with them.
• 7:55
  SPEAKER_00: So not only are they super busy if you wait until after the first of the year, but then everything is locked in.
• 8:01
  SPEAKER_00: There's no ability to disrect.
• 8:04
  SPEAKER_00: Yeah, it's you can't retro.
• 8:05
  SPEAKER_00: Well, for most things, you can't retroactively spend after the end of the year.
• 8:09
  SPEAKER_00: Thinking of Roth IRAs.
• 8:11
  SPEAKER_01: Yeah, you could do some retirement plan, but you're but you're limited.
• 8:13
  SPEAKER_01: You couldn't buy the vehicle.
• 8:15
  SPEAKER_01: Yeah, there's just a lot of things you can't really do.
• 8:17
  SPEAKER_00: Yeah.
• 8:17
  SPEAKER_00: Yeah.
• 8:18
  SPEAKER_00: Yeah.
• 8:18
  SPEAKER_00: Yeah, that makes sense.
• 8:19
  SPEAKER_00: Um, what do you need to bring to that meeting?
• 8:22
  SPEAKER_00: How do you prepare?
• 8:24
  SPEAKER_01: Sure.
• 8:24
  SPEAKER_01: So to that meeting, regularly, you would certainly want financials, and you might even give them financials early so that they could look at them.
• 8:30
  SPEAKER_01: Uh, a lot of times you might bring your bookkeeper to that meeting because if questions come up or you need to dive in and say, What is this thing?
• 8:38
  SPEAKER_01: Like maybe something is labeled, I don't know, supplies, and we don't know what kind of supply it is.
• 8:42
  SPEAKER_01: Is it a cost of goods?
• 8:43
  SPEAKER_01: Is it off supplies?
• 8:45
  SPEAKER_01: Or some account, it might be much bigger than anybody thinks it should be.
• 8:50
  SPEAKER_01: So there to have the bookkeeper in there is really about the ability to drill down and see the detail about what's going on.
• 8:57
  SPEAKER_01: So you might have the bookkeeper there for part of it for a QA and that kind of thing, where really your tax strategy as it matches your business and personal, you wouldn't leave them in there for that part.
• 9:06
  SPEAKER_01: Um, but you'd you'd certainly want your financials.
• 9:10
  SPEAKER_01: And then you, I think, should be thinking about your list of questions, right?
• 9:13
  SPEAKER_01: Like that kind of that RD ideal or things you've heard about that you think might be relevant to you.
• 9:18
  SPEAKER_01: We all see TikToks that feed us things about our finances.
• 9:21
  SPEAKER_01: If there are questions you have, those CPAs know.
• 9:24
  SPEAKER_01: They know a lot of stuff.
• 9:24
  SPEAKER_01: It's good.
• 9:27
  SPEAKER_00: Um, and then any words of caution around timing.
• 9:31
  SPEAKER_00: So making sure that you're you're getting in there October, November, maybe not waiting till December.
• 9:36
  SPEAKER_00: What do you, what's your advice on that?
• 9:38
  SPEAKER_01: Yeah, I feel like uh October 15th is the deadline for extended personal taxes.
• 9:44
  SPEAKER_01: So it's generally going to be after the 15th of October.
• 9:47
  SPEAKER_01: And then they have time, quite frankly, until the middle of January.
• 9:50
  SPEAKER_01: I would say about the 10th or 12th of January.
• 9:53
  SPEAKER_01: So anywhere in there.
• 9:54
  SPEAKER_01: Now, you're obviously in the US, you're competing against Thanksgiving, against Christmas, against kids being out of school.
• 10:00
  SPEAKER_01: There's a lot of other things that happen in that time frame, but there isn't a lot of work in a CPA office during that time period.
• 10:07
  SPEAKER_01: It's a really a great time.
• 10:09
  SPEAKER_01: And they are gonna be very happy to have a heads up about what's going on in your business and to know that you're at least close to your October.
• 10:17
  SPEAKER_01: So there are, you'll just get ready.
• 10:21
  SPEAKER_01: Like if you've been paying your quarterlies, you have safe harbor, even if you so you've gone from being a hundred thousand dollar business to a million-dollar business, your hundred thousand dollar business, your quarterlies might be a couple grand a quarter.
• 10:32
  SPEAKER_01: And you go up to a million-dollar business, it's gonna be a lot more.
• 10:34
  SPEAKER_01: So assuming you have profit.
• 10:36
  SPEAKER_01: All right.
• 10:37
  SPEAKER_01: So I get that we've done episodes about how the top line is not the line that matters, but you understand the point.
• 10:41
  SPEAKER_01: You got much bigger, you got much more profitable, you will not have tax penalties, but you'll still have that tax bill.
• 10:48
  SPEAKER_01: So even though you've paid that little bit through the year, if you've grown in a large way, you're still gonna have a big tax bill that you have to pay at the end of that.
• 10:57
  SPEAKER_01: So um, you know, talking through all of that and again discussing how can I make it lower, what can I do.
• 11:03
  SPEAKER_01: And then these are times when a CPA will also often have a very candid conversation about things maybe that you're paying for personally that you could put in the business.
• 11:13
  SPEAKER_01: Like there's just a lot of strategy stuff you could discuss.
• 11:16
  SPEAKER_00: So you talked about tax strategy questions.
• 11:18
  SPEAKER_00: What are some other examples of good questions to ask your CPA, either from your own experience or your client's experience?
• 11:24
  SPEAKER_00: It could be purchasing equipment or how to generate.
• 11:29
  SPEAKER_01: I think it's a good time to ask how your bookkeeper is doing.
• 11:31
  SPEAKER_01: I think I I mean, I like getting the fee, I like the I like my clients getting feedback that says these books look good.
• 11:37
  SPEAKER_01: Here's our questions.
• 11:38
  SPEAKER_01: Like that's great.
• 11:39
  SPEAKER_01: Um, so I think it's a good time to make sure that you are getting the reports that you want to see as an owner.
• 11:46
  SPEAKER_01: Like as you're having this conversation with your CPA, and the same way if it happens when you do one once a year with your banker, the questions they ask might shape the reports you want regularly, which is fine.
• 11:59
  SPEAKER_01: Um, and I I think all of that helps make you a better prepared owner.
• 12:03
  SPEAKER_01: So, other questions you can ask about are there might be some intuition you have about should you have more detail around different classes of employees and how they make money?
• 12:18
  SPEAKER_01: Like, should you have your admin team separate from your direct delivery team, things like that.
• 12:22
  SPEAKER_01: You could have these conversations with your CPA strategically, where your bookkeeper often is a person that doesn't do the CFO.
• 12:30
  SPEAKER_01: They might just do your bookkeeping and they're just gonna do what you ask them to do.
• 12:33
  SPEAKER_01: Where when you have that conversation with your CPA and you're like, okay, I'd like to see the sales team and what we pay them different from how I see the administration team.
• 12:41
  SPEAKER_01: I don't know, something like that.
• 12:42
  SPEAKER_01: Or front of the house, back of the house.
• 12:44
  SPEAKER_01: You might want to see those different.
• 12:45
  SPEAKER_01: Um, and this is when you can discuss like what are the benefits and negatives of doing that in my business.
• 12:52
  SPEAKER_01: So those are the kind of things, I mean, anywhere your financials don't give you clarity, you can talk to them about, I wish this told me this.
• 13:02
  SPEAKER_01: Should I ask my bookkeeper to do it different?
• 13:04
  SPEAKER_01: And you can have that conversation and they're gonna help you.
• 13:07
  SPEAKER_01: And if you, if you have a CFO, you probably are having those conversations much more regularly.
• 13:12
  SPEAKER_01: But I do think having a check-in with the person who signs their name on your tax form at the end of the day is useful.
• 13:19
  SPEAKER_01: I think it's helpful.
• 13:20
  SPEAKER_00: Is it important that your CPA is industry specific?
• 13:24
  SPEAKER_00: So they handle a number of different clients, but within the same industry, do they need to have that niche expertise?
• 13:32
  SPEAKER_01: I think it's not required.
• 13:34
  SPEAKER_01: Every CPA I work with feels a pretty high level of integrity about making sure every client they have can take advantage of every tax advantage available to them.
• 13:45
  SPEAKER_01: So even if you have a farm and you have some agricultural deductions, even if you go to a CPA in Portland, they are gonna research and make sure they have for you those agricultural deductions.
• 13:57
  SPEAKER_01: Now, the ones who work in a rural area are gonna be much quicker to do those things and not have to do research and potentially have some more strategic advice for you.
• 14:08
  SPEAKER_01: Nitching definitely has some advantages, but is it required?
• 14:10
  SPEAKER_01: No.
• 14:11
  SPEAKER_01: And if you're super niched, you you might not worry about it.
• 14:15
  SPEAKER_01: But like uh in our dance studio niche, when we work with dance and a profit, I've been on the lookout for a CPA that works with dance studios specifically.
• 14:23
  SPEAKER_01: And then I learned that the CPA I found, who was in the opposite side of the country from me, works with professional dancers.
• 14:30
  SPEAKER_01: Like, who knew there were two niches in this niche?
• 14:33
  SPEAKER_01: I didn't know.
• 14:34
  SPEAKER_01: And um, so it's not quite the same, you know, like it's just it a studio is very different from a traveling professional dancer.
• 14:40
  SPEAKER_01: So, you know, I think niching is helpful, but not required.
• 14:46
  SPEAKER_01: And I think it's much more important to have somebody that you have a great rapport with and you can talk strategically about your business, your tax burden, your profit, where you want it to go, how the tax law can help you do that.
• 15:02
  SPEAKER_01: Maybe even um seller, like not seller, but owner discretionary compensation things you want to do.
• 15:09
  SPEAKER_01: So an example might be you might join a boat club so that you could take your clients out as a benefit, and that's how you retain them and schmooze them.
• 15:20
  SPEAKER_01: And you might have a conversation with your CPA about I'd like to join this boat club so I can do this.
• 15:24
  SPEAKER_01: How do I do this within the business so that I don't get in trouble?
• 15:27
  SPEAKER_01: Those are the kinds of things that you can talk about by adding that are strategy, things you wish for because maybe you like to boat, and that's there's it's fine.
• 15:38
  SPEAKER_01: Like there's not if you're using it for client purpose, you can do it.
• 15:41
  SPEAKER_00: So what's one thing that uh that listeners can do this week?
• 15:48
  SPEAKER_00: What would you advise?
• 15:50
  SPEAKER_01: Well, if we're in October when you're listening to this, I think one thing you should be doing is making sure you're getting your reports.
• 15:56
  SPEAKER_01: And certainly I'd like you to get them as you close the third quarter so that you can have it, you can first look at them yourselves and then talk to your CPA.
• 16:05
  SPEAKER_01: And if you don't have a CPA, get a CPA, but get your reports.
• 16:08
  SPEAKER_01: I think that's an important one.
• 16:09
  SPEAKER_01: Your profit and loss and your balance sheet.
• 16:10
  SPEAKER_00: I think uh like you said, if you don't have a CPA, find a CPA and then get on their calendar as well in that time frame that we talked about.
• 16:18
  SPEAKER_00: Um, is there an end-of-year checklist?
• 16:21
  SPEAKER_00: Is there something else that could be helpful for uh for people to do this time of year?
• 16:27
  SPEAKER_01: There is.
• 16:27
  SPEAKER_01: I don't think we can handle that in the last couple minutes of questions and answers, but we're gonna be doing a whole episode about an end-of-year closing checklist.
• 16:35
  SPEAKER_01: There's a lot of things.
• 16:35
  SPEAKER_01: But it's really about, I mean, the easy part is making sure all your banks are caught up and reconciled and your credit cards are caught up and reconciled and your loans are caught up and reconciled.
• 16:43
  SPEAKER_01: But then the tricky part becomes when any of your staff or you have expenses you might have paid for personally that aren't in the books, get those in the books.
• 16:54
  SPEAKER_01: So it could be that you're asking your key employees if they do those things, or if, especially if an owner or key person sometimes buys things personally that need to get in the books.
• 17:05
  SPEAKER_01: I think that's that's the housekeeping work.
• 17:08
  SPEAKER_01: From there, there's uh as you go to close the year, there's a lot of um 1099 preparation that happens.
• 17:14
  SPEAKER_01: So inside your books, if you're doing them yourselves, you want to make sure every transaction has a vendor name on it.
• 17:19
  SPEAKER_01: And this is very tedious.
• 17:20
  SPEAKER_01: And um, you want to any since the new rule in 2026 is that if you have any vendor you've paid more than$2,000 during the year, then you're gonna owe them a$1099 if they were non-employee compensation.
• 17:35
  SPEAKER_01: So what that means is this threshold used to be$600 and it's been$600 for a very long time.
• 17:41
  SPEAKER_01: That threshold is going up to$2,000, so there'll be less 1099s required.
• 17:45
  SPEAKER_01: But many people that you've paid$600, you've actually paid more than$2,000.
• 17:51
  SPEAKER_01: So that does not change the necessity for 1099s for rent paid to landlords, and it does not change the necessity for money paid to lawyers.
• 18:00
  SPEAKER_01: So the 1099 thing, the all the goofy transactions that come in from any odd place, um, I think focusing on getting those things in will get you a long ways toward closing for the year.
• 18:14
  SPEAKER_00: And does Fisher Bookkeeping offer any sort of tax advisor services?
• 18:21
  SPEAKER_01: Not yet.
• 18:22
  SPEAKER_01: So uh I also have a coach in my own business.
• 18:26
  SPEAKER_01: I also listen to what's happening in the industry.
• 18:28
  SPEAKER_01: And the the trend is going to sort of an all-in-one shop, and I recognize that that's happening.
• 18:33
  SPEAKER_01: I have not done something about that, but I'm seeing my peers do it over and over.
• 18:38
  SPEAKER_01: So I do think we'll talk about this more as it becomes truth, but uh it's not true today.
• 18:43
  SPEAKER_01: I don't do tax right now.
• 18:45
  SPEAKER_01: It's it's a tricky thing for me.
• 18:46
  SPEAKER_01: I work with a handful of CPAs that I really like a lot, and I get referrals from them, and they're important to me.
• 18:53
  SPEAKER_01: So I feel very torn about competing against them, quite frankly.
• 18:59
  SPEAKER_01: Like I don't know about that.
• 19:00
  SPEAKER_01: So as I I would the place where I'll probably take them first would be dance studios, just because I think that niche would be really interesting and it would help us be really specialized.
• 19:11
  SPEAKER_01: The place where it will go is as my CPAs all get full and they're not taking new clients, that might be when we when I'm not gonna hurt our relationship, then I might do that.
• 19:20
  SPEAKER_01: So, but not yet.
• 19:21
  SPEAKER_01: We do not do tax at this day.
• 19:23
  SPEAKER_00: But you do have a roster of CPAs that you've worked with in the past.
• 19:28
  SPEAKER_00: And if there is a good match for someone who doesn't have one currently or wants to shop around, you can make some referrals to for sure.
• 19:35
  SPEAKER_01: I I definitely keep a list of CPAs taking clients, and I'm thrilled to make a couple of introductions for anybody that asks.
• 19:41
  SPEAKER_01: That's not that's not a service we charge for.
• 19:43
  SPEAKER_01: So if you do need a CPA, you're welcome to ask.
• 19:45
  SPEAKER_01: I'd be happy to build a relationship and get to know you personally in a more deep way and refer you to a CPA if you need one, for sure.
• 19:56
  SPEAKER_00: All right, any final thoughts on soft close and your year-end CPA meeting?
• 20:02
  SPEAKER_01: No, I think this is a great topic.
• 20:03
  SPEAKER_01: I'm really excited.
• 20:04
  SPEAKER_01: I hope more people do a soft close in October.
• 20:07
  SPEAKER_00: All right, thank you.
• 20:09
  SPEAKER_01: Thanks.