This is the final week of LFID’s Give Thanks series. Over the past three weeks, I’ve been sharing interviews with the people who have worked alongside me to bring this design business into being—people for whom I am so incredibly thankful! If you haven’t yet, be sure to check out my previous interviews with Rachel Weaver, blogger extraordinaire, and Rob Rice of Rob Rice Illustrations.
Today is an exciting day. Today, I bring you my partner in work, play, and all of life. He’s the man who makes sure my books are balanced and the one who keeps my head on straight. I’m so incredibly honored to be able to introduce you to my very best friend, Larry Figueroa. That’s right—my hubs!
For the past 4.5 years, Larry has worked in corporate accounting at a firm in downtown Grand Rapids. We’ve been married a little over two years, and he has been a huge encouragement in getting LFID off the ground. He is in charge of paying my taxes on time, making sure all that cash flow stuff makes sense, and keeping me grounded when I'm feeling pulled in a million directions. He's just the greatest!
And now, here’s Larry:
Tell us a little about your background, what you do, and why you decided to pursue the route you did:
I have worked for BDO for the last 4.5 years as a tax consultant. I took a few accounting classes in college, did well, and enjoyed the work. I was in college during the '08 financial crisis and recession and my professors made sure to let us know that there were still plenty of jobs in accounting which made a career in public accounting appealing at the time.
You have an exciting new endeavor coming up in your life…Tell our readers a little about that:
Yep, I just accepted a position with Church of the Servant as the interim minister of worship.
Why have you decided to make this leap, and where do you hope it will take you?
I've been thinking about pursuing graduate school for quite some time. I've been having trouble understanding how to take the step from my current firm to graduate school and this position opened up at just the right time. I'm excited about the awesome team I'm going to work with, the community at Church of the Servant that I'll be able to serve, and the opportunity to spend significant time exploring worship and music. And I think it will serve as a solid buffer between the current chapter in my life and whatever comes next.
A lot of small business owners keep their accounting “in house” to save on costs. What would you say are the benefits of having a professional like yourself assist with a small business’s accounting?
From a tax standpoint, it helps bring to light a lot of additional deductions you might be entitled to, but either aren't sure how to calculate or don't even know exist. This type of help can happen once a year. The benefits of ongoing accounting help depend on the size of your business and industry. If you're in the service industry and are dealing with a low volume of transactions per month, the financial reporting should be fairly straightforward. If you're facing something moderately more complex, it may be worth having an outside accountant review your financials on a periodic basis. That will help save on the cost of having someone else do it, but will still give you some assurance that you're thinking about the numbers correctly.