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TaxBuzz Spotlight: Meet Sonu Shukla, CPA

by
Lee Reams II
on
11/15/2015
TaxBuzz Spotlight: Meet Sonu Shukla, CPA

At TaxBuzz, we get to work with some of the brightest tax and accounting professionals throughout the country. When we find an accounting professional who goes above and beyond for their clients, we like to talk with them about what makes them tick.

One such CPA is Orlando's Sonu Shukla. An experienced accountant, Sonu is the founder of Sonu Shukla, CPA, PA. He is a published author and tax-planning expert who works with taxpayers and small businesses throughout Florida. We spent some time with Sonu this past week to get more insight about his practice and how he helps his clients succeed. 

What is your best advice for a small business getting started in Orlando?

Sonu: The best advice I have for getting a small business started in Orlando is to begin with the end in mind. Most small businesses fail or simply don't perform to their potential because they have no idea of what is possible. So, I try to remind them why they started their businesses in the first place. What were they trying to achieve when they started their business and what was the result they were expecting? If I can get them to refocus on that, then it becomes easier to help clear the muddled mind, which allows the business to soar and reach its potential.

Please give us an example of a small business owner who benefited greatly by utilizing your advice.

Sonu: Bill Hentshel comes to mind. He is the owner of a fitness franchise that now operates two locations. In a lot of ways, Bill is the perfect client and a perfect example of a business owner who sought out professional help BEFORE he took the plunge in setting up his business. He had been laid off from the corporate world, and he had no interest in going back, so he decided he would open a fitness franchise. Bill is incredibly passionate about wanting to help everyday people achieve their fitness goals. It was great to work with Bill because we worked in a collaborative fashion. He didn't do everything we discussed but what was important was that he sought out help when he needed it and didn't mind some constructive criticism, especially when I played devil's advocate. My only aim was to force him to think from as many angles as possible instead of marching to a single beat.

What was your motivation for becoming a CPA?

Sonu: I enjoy solving puzzles. I became an entrepreneur at a very young age in India. India back then and to some extent even today is regulatory nightmare. I started understanding how complicated unrelated issues start throttling a small business and hinder its potential. This is what led me to become a CPA: I wanted to help other small business owners deal with the complex web of regulation such as taxation, federal, state and local compliance requirements and everything else that can become a hurdle on the way to success. 

You often talk about being proactive in tax planning...Give us some examples of tax-planning strategies small business owners can use before year-end that will save them greatly. 

Sonu: Proper proactive tax planning is a process, and I would highly recommend that small business owners consider implementing this process year round. Assuming you are a cash-basis taxpayer, before the year ends some simple tax-planning ideas may be to defer income from the current year to following year. If the collection of that income is relatively assured next year then it makes sense to defer the income into the following year. Similarly, if you are planning on making any big-ticket acquisitions in the early part of next year then it may make sense to place the purchase in the current year. Make sure you are taking advantage of all the accelerated and bonus depreciation on capital expenditures that are allowed per federal and state tax laws. You may also want to consider hiring kids and relatives that are in the lower tax bracket for extra help during the holidays.

What makes running a small business different in Orlando versus the rest of Florida? 

Sonu: The city of Orlando has a unique character as a place to do business by virtue of its worldwide position as a premiere family vacation destination. However, besides the world-class attractions, the city and the Metro Orlando area as its known have remarkable opportunities for small businesses, in particular when you compare it with the rest of Florida. It's a great place to live and raise a family, and the city and the area are blessed with awesome infrastructure thanks in large part to the attractions the city hosts. 

Talk to us about your all-inclusive business packages and how you can take the load off the small business owner. 

Sonu: Personally, I dislike uncertainty in quality, pricing and timing of delivery when it comes to making a purchase. We don't like to "tax" communication and certainly don't want our clients to pull back from communicating with us about their business because of the fear or uncertainty of the cost associated with doing so. The All-Inclusive Business Package eliminates the uncertainty. It helps us demonstrate our value to the client because we are now free to engage with them about all aspects of their business and not limit ourselves to only answering the questions that are asked by the client.

What motivated you to write your book, "Straight Talk about Small Business Success in Orlando, FL"?

Sonu: The book is essentially a compendium of my experience. The book is designed to engage the audience to ask the right questions. My motivation to write the book was twofold. One, I wanted to commit my experience to date to paper, and two, I wanted to have an imaginary conversation with a potential small business owner to get him/her to ask the right questions.

For more information: Sonu Shukla, CPA, PA is based in Orlando, Florida, and can be reached by phone at (407) 680-0900 or via orlandotaxcoach.com.

Sonu Shukla, CPA, PA helps small business owners drastically reduce their tax bill by as much as 62% using his unique, proven and 100% legal tax-reduction strategies. The goal of Sonu Shukla, CPA, PA is to ensure clients see 2 to 10 times tax and costs savings over the fees you pay them.

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Lee Reams II

Lee Reams II

CEO

I am a tax and business news junkie who has spent the last 20 years developing and executing "best in class" word-of-mouth marketing campaigns for tax and accounting professionals. With TaxBuzz and CountingWorks we have taken that same commitment to quality content directly to the consumer. Keeping you up-to-date with the latest tax law changes, business growth tips and planning strategies to help you reach your best financial outcome.

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