The Benefits of A Highly Niched Virtual Business
As the founder and Managing Director of Lance CPA Group, Joshua Lance has created a doubly unique CPA firm. Firstly, it is an entirely virtual practice with its 14 employees spread across the country. Secondly, it provides accounting and consulting services only to craft breweries and digital agencies. In this episode, Josh shares the journey that led him to establish such an unusual accounting firm, the benefits of having a virtual-only and highly-niched practice, and some of the unusual and interesting activities that keep the country-wide employees feeling connected and part of the team.
Joshua Lance is the founder and Managing Director of Lance CPA Group, a virtual CPA firm that focuses on providing accounting and consulting services to craft breweries and digital agencies. A licensed Certified Public Accountant and Chartered Global Management Accountant, Josh spent his early career at Crowe LLP before working as a Controller at an ultra-high net worth family office. Josh is also an adjunct professor at Northwestern University in Evanston, IL teaching accounting in the Farley Center for Entrepreneurship and McCormick School of Engineering. Josh was honored by being selected to the 2017 class of the AICPA Leadership Academy and was named as one of the 40 under 40 in 2017, 2018, and 2019 by CPA Practice Advisor. Josh was recently appointed to the Illinois CPA Society Board of Directors and the AICPA PCPS Executive Committee.
Meet the Host
Randy Crabtree, CPA
Randy Crabtree, co-founder and partner of Tri-Merit Specialty Tax Professionals, is a widely followed author, lecturer and podcast host for the accounting profession.
Since 2019, he has hosted the bi-weekly “The Unique CPA,” podcast, which ranks among the world’s 5% most popular programs (Source: Listen Score). You can find articles from Randy in Accounting Today’s Voices column, the AICPA Tax Adviser (Tax-saving opportunities for the housing and construction industries) and he is a regular presenter at conferences and virtual training events hosted by CPAmerica, Prime Global, Leading Edge Alliance (LEA), Allinial Global and several state CPA societies. Crabtree also provides continuing professional education to top 100 CPA firms across the country.
Schaumberg, Illinois-based Tri-Merit is a niche professional services firm that specializes in helping CPAs and their clients benefit from R&D tax credits, cost segregation, the energy efficient commercial buildings deduction (179D), the energy efficient home credit (45L) and the employee retention credit (ERC).
Prior to joining Tri-Merit, Crabtree was managing partner of a CPA firm in the greater Chicago area. He has more than 30 years of public accounting and tax consulting experience in a wide variety of industries, and has worked closely with top executives to help them optimize their tax planning strategies.