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  • Writer's pictureEric McLoyd

7 Must Have Conversations To Have With Your Accountant

#006 How To Get 7-Figure Value From Your Accountant-7 Must Have Conversations


Read time: 5 minutes

Peace and Happy Saturday!

First and foremost, I hear a lot of people confusing a tax preparer with an Accountant. They are not the same. A licensed Accountant has a state license and the designation CPA (Certified Public Accountant).

The big distinction here is that CPAs beyond preparing taxes are trained in analyzing financial data, helping to manage expenses and can also assist with financial planning, audits and investments.

No hate to tax preparers but these 7 conversations, I’m asking you to have only with a CPA: ✌🏾

1-My goal is to become a millionaire how can you help me?

What have they done to help their other clients get to that level?

Have they helped any other clients get to that level?

2-I need to know if my business is really growing. What deeper analytics can you prepare from my financial information?

Here are a few needed to get to the next level:

-Cost To Acquire A Client -Churn Rate -Cash Flow Analysis -Gross Margin

All of these metrics should help answer the question are we really growing and at what rate?

3-I’m paying my taxes quarterly but what else can be done to actually reduce my taxes?

Some possible discussion points could be:

-Set up retirement accounts

-Acquiring assets, etc.

4-What can do to help me establish business credit?

They may not be able to personally do anything but can they?:

-Make introductions to bankers/lenders

-Provide their opinion on platforms such as NAV, etc.

-Share what they did to establish the business credit.

5-What new changes in legislation you can I take advantage of this year?

-Legislation is always changing, what's going to help your situation?

6-What can you tell me about tax later or no tax wealth building strategies?

This conversation should delve into cash value life insurance policies, retirement saving options outside of your 401k, etc.

7-I’m about to invest in real estate, how can I do this and get the most tax benefits?

This dialogue should include depreciation, pass-through deductions, write-off’s, etc.

At the end of the day your current accountant might not be the one to help you get to the next level. And that's okay (well not really 😎). But you can use these same conversations to to recruit the next one.


1-Not all Accountants are licensed CPAs.

2-An Accountant is different from a tax preparer.

3-These 7 talking points should reveal what they can do to move you to the next income bracket and save taxes in your current bracket.

4-We need to guide every member of our money team. The more education we obtain, the better we can guide--not the other way around!

Respect to you for spending 5 minutes to build your Financial IQ. If you have any questions, shoot them to me at

See you again next week.

Whenever you are ready, there a few ways I can help:

  1. Seven Steps To Seven Figures e-book:

  2. Fractional CFO services: business plan development:

  3. Podcast Episodes About Financial Topics:

  4. Daily personal finance content:

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