Company Overview
Source Advisors is a distinguished tax consulting firm headquartered in Fort Worth, Texas, with a history spanning over 40 years. The firm specializes in a broad spectrum of tax solutions, with a particular focus on government-sponsored tax credits, deductions, and incentives. These efforts are designed to improve cash flow and optimize tax savings for businesses. The company’s areas of expertise include Research & Development (R&D) Tax Credits, Cost Segregation, Sales & Use Tax, Energy Efficiency Tax Incentives, LIFO Accounting, and Property Tax assessments.
Key Services and Solutions
- R&D Tax Credits: Assessment and guidance to maximize federal and state R&D tax credits.
- Cost Segregation: Strategies to reclassify and accelerate tax deductions on commercial real estate.
- LIFO Accounting: Management of inventory valuation for tax optimization.
- Energy Tax Incentives: Assistance in claiming deductions and credits for energy-efficient buildings (§179D) and home construction (§45L).
- CPA & Fixed Asset Consulting: Optimization of asset management and tax compliance.
Leadership Team
- Tim Whipple: Chief Executive Officer since 2024, previously an Executive Partner at Sixth Form, brings extensive financial and operational expertise.
- Jason Paru: Chief Operating Officer/Chief Financial Officer since 2022 with over two decades of diverse industry experience focusing on enhancing enterprise value.
- Jason Wilcox: Chief Technology Officer, leading technological innovations, with over 25 years in the industry.
- David Murphy: Senior Vice President of Revenue, instrumental in revenue generation strategies with an executive leadership background.
- Deborah Roth, CPA: Managing Director of R&D Tax Credits, founding member of the National R&E Roundtable, with the firm since 2009.
- Raul Soto: Managing Director of Cost Segregation, overseeing real estate valuations and operational strategy.
- Greg Bryant: Senior Managing Director of Strategic Initiatives, emphasizing tax-centric solutions to enhance client cash flow.
Recent Developments
Acquisitions: Source Advisors is expanding nationwide, notably through acquiring Intrepid Advisors, specializing in R&D Tax Credits, and PMBA, enhancing market presence and service capabilities.
Investments: In April 2022, BV Investment Partners acquired a majority stake, supporting strategic growth and specialty tax software development.
Financial Metrics
The firm generates annual revenue of approximately $67.9 million. While not all funding details are public, the majority stake acquisition by BV Investment Partners reflects strong financial health and growth potential.
Value Proposition
Source Advisors offers a consultative approach that blends deep tax industry knowledge to deliver high ROI and risk mitigation for CPA partners and clients. Its expertise in prevailing tax codes and regulations allows for customized tax solutions that meet client-specific needs and goals. The firm is recognized for helping businesses secure significant tax savings while ensuring compliance and effective audit defense.
Competitor Overview
Pilot
Provides comprehensive financial services including bookkeeping, tax preparation, and financial insights, utilizing advanced technology for streamlined business financial management.
PricewaterhouseCoopers (PwC)
A leader in tax consultancy, offering R&D tax credits services. PwC combines traditional consulting with innovative software solutions through its Global Incentives Solutions platform for efficient global R&D tax credit claims.
WOTC.com
Specializes in Work Opportunity Tax Credit solutions, integrating WOTC into hiring processes to streamline operations and optimize government incentives for tax credits related to new hires.
KBKG
Known for enabling access to over $9 billion in tax credits and incentives, KBKG provides services including cost segregation and R&D tax incentives, catering to large companies and CPA firms.
Engineered Tax Services
Delivers engineering-focused tax credit solutions, particularly in cost segregation, R&D, and energy-efficient incentives. The firm is recognized for superior service in these areas.
Competitor Insights
Source Advisors competes with notable firms like Engineered Tax Services, KBKG, and PwC, each possessing unique strengths in tax consulting, particularly R&D tax credits. Improving integration and technology, as seen in competitors like PwC and Pilot, could yield a competitive edge for Source Advisors.
Strategic Acquisitions
Acquisition of Intrepid Advisors bolsters Source Advisors in the R&D tax credits arena, facilitating expanded service offerings and client reach.
This report delineates the comprehensive profile of Source Advisors and its competitive landscape, highlighting its strategic initiatives to enhance service offerings and technological capabilities within the specialized tax consulting sector.
