Service Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service How most home service businesses are misled by CPAs with Kristen Deese
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May 7, 2025 Kristen Deese, a Chief Financial Officer at The Virtual CFO for the Trades and co-owner of Paradise Home Services, shares valuable insights about financial management for home service businesses. She discusses the critical difference between CPAs and CFOs, highlighting how understanding your numbers can transform profitability. Kristen emphasizes proactive cash flow management, the importance of training teams on KPIs, and the need for clear financial reports. Her practical advice empowers business owners to build confidence and foster sustainable growth.
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Kristen's CFO Journey
- Kristen Deese transitioned from managing home service businesses to becoming a virtual CFO. - She started by training accounting staff then expanded to coaching business owners on understanding their financials.
CPA vs CFO Financial Focus
- A CPA focuses on minimizing tax liability, often reducing net profit on paper. - A CFO prioritizes maximizing net income to support operational efficiency and growth.
Quarterly CPA Meetings
- Meet with your tax CPA quarterly to anticipate tax liabilities and major business decisions. - This helps avoid surprises and ensures proper tax planning and quarterly deposits.
