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Intuit® Tax Council Member Profile: Minal Babaria, CPA, CTC, CTP, CCA

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Minal_BabariaIn this profile, get to know Minal Babaria, CPA, CTC, CTP, CCA. Minal is founder and lead tax strategist at KB Tax Deviser CPAs, a family business in Center Valley, Pa. Minal is also a member of the Intuit® Tax Council.

Scott Cytron: Tell us about your practice.

Minal Babaria: Most business owners are stressed for not having timely, reliable financials. If they have that, they are unsure how to drive their decisions to increase profitability or minimize their taxes. KB Tax Deviser CPAs is an industry-leading advisory firm, serving clients nationwide. We assist small business owners in taking back control of their business to gain more money, time, and happiness from their business.

We also help business owners and entrepreneurs make decisions based on intelligence and careful thinking, rather than just emotions. We invest, innovate, commit to professional development, and implement new strategies so that our clients receive the best advice possible.

Fun fact: We are three sisters and are all CPAs, and my brother’s fiancé is a CPA by coincidence!

SC: Why is the Intuit Tax Council important to the profession?

MB: It gives us the platform to share ideas and enhances the overall software experience and journey for our clients, while increasing overall productivity in our profession. The Council allows us to pool our experiences, innovate, connect with other professionals, and lead the changes we want to see in the profession.

SC: What kind of Intuit software do you use?

MB: We currently use (and love) Intuit ProConnect™ Tax and QuickBooks® Online. Since our firm has been 100% cloud-based since the beginning, having cloud-based software is crucial to our firm’s operations. In addition, our clients love having access on the go, 24/7, to their financial data.

SC: Tell me how COVID-19 impacted your firm and/or your clients?

MB: We are a paperless, cloud-based firm that has an office, but we only meet clients in the office by appointment and team meetings. COVID-19 had zero impact on our operations, as our whole team was 100% on the cloud since day one.

However, when the lockdown was announced in March 2020, I took decisive action by reaching out to my clients and to the larger business community to help them navigate the turbulent market and prepare for the financial implications. When many small businesses were forced to shut their doors, we armed them with the timely information required to help sustain their business.

We expanded our business channels and started hosting webinars to educate business owners about the government programs available to them, literally within three days of the lockdown. Many accountants nationwide even attended our webinars to help their clients. From clients who needed help removing holds on their economic injury disaster loan, to finding innovative strategies that can help businesses stay afloat during the pandemic, such as the Paycheck Protection Program, county or state grants, and employee retention tax credits, our team executed quickly to serve the business community.

SC: What was your very first job?

MB: I was 18 years old when I started a paid internship at an accounting firm.

SC: How can tax professionals keep up with all the changes in tax laws and regulations?

MB: Personally, I like to block out Mondays and Fridays on my calendar as my focus days. I do not do any client or sales meetings during those two days. I spend two to three hours to feed my brain, whether it’s keeping up with tax laws and regulations, practice management, or CPE.

I recommend tax pros involve their team to contribute to learning and make it a part of the practice. It’s just too much for one or two people to learn and implement. As with pandemics, we have seen that our profession is not just about keeping up with constantly changing tax laws, but also how to implement technology, automation, marketing, culture, and morale-building. When we involve the team, they have that sense of trust and responsibility, and they can help implement what they learned faster, preventing the owner from working in a silo.

SC: If you were stranded on a desert island with access to just one kind of technology, what would it be?

MB: A solar-powered satellite phone!

SC: Your participation is very inspirational—thanks Minal!

Editor’s note: Minal recently participated in the whitepaper, “The Path to Advisory,” that can be downloaded and used extensively in your firm. The PDF includes checklists, charts, and many other activities that could not be included in this article. Download it today. There is also an Executive Summary available for download.

Scott Cytron
Scott Cytron

Written by Scott Cytron

Scott H. Cytron, ABC, is editor of the Intuit® Tax Pro Center. He brings more than 35 years' experience in accounting and financial services to the profession. An accredited consultant, Scott works with companies, organizations and individuals in professional services (medical, legal, accounting, engineering), high-tech and B2B/B2C product/service sales. Follow Scott on Twitter @scytron. More from Scott Cytron

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