CLIENT PROFILE
Ryan Goehring Cattle is a family business located in Random Lake, Wisconsin. Ryan is passionate about breeding high-quality cattle, and the genetics of his cattle have been closely selected from some of the best operations across the U.S.
THE SITUATION
When Ryan Goehring’s local accountant closed up shop, he began the search for a new CPA. His main goals were to find someone with experience in his industry and who could bring a higher level of strategy when looking at his business, accounting and taxes.
Backed by the resources of a large firm and bringing personal experience in the livestock show industry to the table, Kristina Odermann of Wipfli was the one to continue adding success to Ryan’s business. When he had questions over whether his prior accountant had overlooked any important strategies, Kristina had answers.
THE STRATEGY
During their first meeting, Kristina took the time to fully understand Ryan’s operation so she could make key recommendations. But before diving into business, she asked one of the most important questions to setting the foundation of a working relationship. How much involvement did Ryan want in this process?
For some clients, they appreciate the ability to focus on their business while their CPA focuses on tax and accounting. But for others, working with a CPA presents an opportunity to learn more about improvement opportunities.
Ryan wanted Kristina to work with him to create the big picture of his success, determine his goals and perform preliminary business planning. It wasn’t just about doing his tax return; it was also about adding value to the relationship and setting him up for greater success.
THE RESULTS
Since they were right in the middle of tax season, Ryan’s tax return was another big focus for him. Kristina found fuel tax credits and a sales tax exemption for farm use that he hadn’t been taking, among other tax strategies to leverage. As a result, for the first time in years, Ryan received a refund on his tax return (for the year 2018). Plus, Kristina amended his 2017 return, allowing him to gain a refund for that year as well.
Kristina and Ryan have built a solid relationship built on her being a trusted advisor to him and his business, and they are continuing to work together to implement further strategic opportunities in his business.
