prudent-accountants

Prudent Accountants

Overview

Prudent Accountants is a well-regarded accounting firm with locations in Minneapolis, Minnesota, and Frisco, Texas. Established in 2007, the firm offers a comprehensive array of accounting, bookkeeping, payroll, tax preparation, and CFO services. Prudent Accountants primarily serves small and medium-sized businesses across various industries, including real estate, healthcare, retail, and non-profits.

Core Services

1. Accounting and Bookkeeping Services: Tailored to small businesses, helping them maintain accurate financial records necessary for informed decision-making and growth.
2. Payroll Services: Simplified payroll management ensuring timely payments to employees.
3. Tax Services: Comprehensive services covering business, individual, sales and use tax; experienced in managing IRS and state audit support.
4. CFO Services: Providing strategic support for business growth, turnaround, and sale strategies.

Specializations

• Real Estate Accounting

• Healthcare Accounting

• Non-Profit Accounting

• Retail and Restaurant Accounting

Leadership Team

• Maninder Pal (MP) Singh, Cofounder and CEO: Experienced in general management, corporate leadership, and financial strategy. Recognized for strategic planning and execution capabilities.

• Geetika Kaur, Accounting Manager: Skilled in financial services with a strong history in accounting management.

• Muhammad Salman, Lead Accountant: Ensures high-quality accounting services with significant expertise.

• Iftikhar Jahangir, Manager Project: Experienced in project management, contributing to various accounting projects.

Client Testimonials

• Abdullahi Jama: Praises their accuracy, responsiveness, and extensive expertise in accounting, taxation, and audit support.

• Crystal Osman: Appreciates their confidence-inspiring work, deep knowledge, and vast experience.

• Simon Trautmann: Acknowledges excellent referral partner experiences.

• The Cafe Meow & Jeff Rohach: Highlight timely tax filing and significant tax savings.

Client Ratings and Feedback

• Google Rating: 4.9/5 based on various client reviews.

• Facebook: Positive feedback with a 4.9 rating.

Notable Achievements

• IRS/State Audit Support: Proven expertise in managing audit processes, reducing client liabilities and stress.

• Tax Efficiency: Known for helping local businesses save up to $30,000 annually through strategic tax planning and optimizing tax credits and deductions.

• Client Retention: Long-term relationships with clients, characterized by consistent high service standards and flexibility to accommodate specific client needs.

Contact Information

• Address:

• Minnesota Office: 1520 E 66th St, Minneapolis, MN 55423

• Texas Office: 5 Cowboys Way, Suite 300, Frisco, TX 75034

• Phone: (612) 605-3178

• Website: [Prudent Accountants](https://prudentaccountants.com/)

Recent Activities and Insights

• Regularly updates their blog with critical financial strategies and reminders about key tax deadlines and cash flow optimization techniques for various industries.

• Emphasizes proactive tax planning, efficient AR/AP management, and leveraging key financial indicators for strategic decision-making.

Social Media Presence

• LinkedIn: Active presence with 604 followers, regularly updates about key financial strategies and industry insights.

• Facebook: Engaging content including tax planning tips and client success stories.

Competitor Profile

Key Competitors

1. Jeffrey D. Ressler, CPA & Associates

• Location: Boca Raton, Florida

• Services: Full-service accounting with specialization in tax preparation, tax planning, IRS problem resolution, bookkeeping, payroll, and financial consulting. They also offer tailored QuickBooks setup and training.

• Differentiators: Provides individualized financial services with an emphasis on resolving IRS issues and comprehensive QuickBooks support. Positioned as "just the right size" for small businesses—large enough for extensive needs but small enough for personalized attention.

2. Cook CPA Group

• Location: Roseville, California

• Services: Comprehensive accounting services including consulting, tax, auditing, business planning, estate planning, internal controls, and outsourced CFO services. Serves a wide array of industries like agriculture, construction, real estate, and more.

• Differentiators: Adopts a "common sense, uncommon service" approach, leveraging technology to offer personalized, efficient services. Known for strong client relationships and tailored business solutions.

3. Affordable Accounting & Tax Solutions

• Locations: Land O' Lakes, Florida; Parrish, Florida; Fort Lauderdale, Florida

• Services: Accounting, taxation, consulting services, bookkeeping, tax preparation, QuickBooks setup, and education. Focuses on affordability.

• Differentiators: Prices services competitively by not employing CPAs, maintaining a personal touch with small to mid-size businesses. Known for a client-centric approach with accessible and cost-effective solutions.

4. Joseph Szymanski CPA LLC

• Location: Valparaiso, Indiana

• Services: Accounting, tax services, business consulting, bookkeeping, tax planning, and QuickBooks support, focusing on small to mid-sized businesses.

• Differentiators: Specializes in multi-state tax returns and rental property tax planning. Known for expert handling of complex returns and offering a range of financial solutions to improve client productivity and reduce tax liabilities.

5. Samuel Tax Services

• Location: Baltimore, Maryland

• Services: Full-service tax, accounting, and business consulting, including IRS representation, tax preparation, and auditing services.

• Differentiators: Emphasizes client-centered services with a strong focus on IRS e-file service provision. Known for personal attention to small business needs and comprehensive tax services.

Key Insights

• Service Variety and Specialization: Unlike some competitors that do not employ CPAs, Prudent Accountants provides CPA-certified services, appealing to clients requiring high-level expertise.

• Geographical Reach and Industry Coverage: Competitors like Cook CPA Group serve niche industries, and Joseph Szymanski CPA LLC focuses on multi-state returns and rental properties. Prudent Accountants could explore service expansion opportunities in these areas to diversify their client base.

• Personalization and Small Business Focus: Competitors such as Jeffrey D. Ressler, CPA & Associates, and Affordable Accounting and Tax Solutions are noted for personalized services to small to mid-sized businesses. Prudent Accountants may benefit from emphasizing their personalized service approach to attract similar clientele.

• Technological Adaptation: Firms like Cook CPA Group highlight the use of modern technology to improve service delivery. Prudent Accountants should consider leveraging similar technological advancements for efficient and effective client services.