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Frequently Asked Questions
Find answers to commonly asked questions about Gray Stripes Advisors.
What makes Gray Stripes different from a typical CPA or tax preparation firm?
Most public accounting or tax practices are primarily focused on compliance (often at very high volumes) and may dabble in planning or advisory for a few of their best clients – this is a common pain point for a lot of prospective clients who are dissatisfied with their current CPA. The reality is that tax preparation is largely a commodity and there’s only so much value that can be added plugging numbers into a tax software. Gray Stripes has structured our engagements such that proactive current year and lifetime tax planning is at the forefront, and preparation of the returns is merely a piece of that.
Who is an ideal client for Gray Stripes?
We feel we can add the most value for small businesses (below $15M in revenue) and their owners, as well as non-business owners who desire a more proactive approach to their taxes. The clients we attract tend to still be in the accumulation phase, 10 or more years away from retirement, but we work with some retirees, as well. We are willing to meet with all prospective clients (at no charge) to see if there is a mutual fit, so long as they understand our service offerings, firm policies, and fee arrangement in advance of the initial meeting.
Who is not an ideal client for Gray Stripes?
Larger companies that need audited or reviewed financial statements, or that operate in specialized industries (such as oil & gas or construction) would likely be better served by a larger firm that can offer more services and more tailored expertise. We also do not work with nonprofit organizations, as those organizations need very specific advice that we are not qualified to offer.
What services does Gray Stripes offer and not offer?
Gray Stripes offers tax compliance (i.e. return preparation), tax planning, and fixed-fee financial planning for small businesses and their owners, DIY investors, and families.
Gray Stripes does not offer bookkeeping, financial statements (compilations or attest work), payroll preparation, investment management, or legal services (but we have some great connections that we work with who do offer those services).
How does Gray Stripes price its services?
Unlike most accounting firms, we do not bill by the hour nor track accounts receivable. We offer multiple tiers of service depending on the level of engagement that you feel you need, and a price range is agreed upon before the engagement begins.
Return preparation starts at $700 for individual returns and $2,000 for business returns. Half of the minimum fee is due at the start of the engagement, and the balance is due before the returns are electronically filed.
Tax planning engagements start at $3,000 per year, and monthly payments are available for a slightly higher fee.
Is Gray Stripes a virtual/paperless firm, and are in-person meetings available?
Gray Stripes operates 100% paperless – we don’t have scanners, printers, or secure physical document storage in our office. Clients agree before the engagement begins to utilize our secure file exchange and online payment processor. SafeSend allows clients to securely upload documents and download tax returns without having to remember a username and password. All our systems are IRS compliant and securing our clients’ personal information is our highest priority, which would not be possible if we allowed paper documents.
All meetings with prospective clients are virtual via Microsoft Teams. For active clients who live in Central Ohio, we can meet in-person in the region as our schedule allows. Active clients who prefer in-person meetings are still required to use SafeSend for all document transfers and our online payment processor.
Why Choose Gray Stripes Advisors?
Transparent Pricing: No hidden fees or hourly billing.
Flexible Billing Options: Choose between monthly or quarterly payments.
Personalized Service: Customizable packages to fit your unique needs.
Commitment-Free After One Year: Freedom to disengage anytime after the first year.
Join Gray Stripes and experience the difference of tailored financial services designed to help you achieve your goals.