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Meet Laurie McClain of McClain & Company in Suwanee

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Today we’d like to introduce you to Laurie McClain.

Laurie, please share your story with us. How did you get to where you are today?
I knew I wanted to be an accountant when I was 12 years old. I was always comfortable with math and numbers and I really liked the idea of being able to work with them all day long. Of course, at that age, I had no idea what an accountant really did. I excelled in my accounting courses in high school and went to Georgia State University to get my degree. After finishing my undergraduate degree, I went to work for a local, very prestigious accounting firm in their small business advisory department. That’s when I really learned what it meant to be an accountant. After 10 years, I went out on my own and have had my practice for over 20 years. During those 20 years, my personal life was a roller coaster and the business went with it. I divorced, married, had another baby (number 3), divorced again and went through the death of both of my parents.

After finally getting my emotional wits about me, I decided it was time to do something I had always wanted to do…. go back to school and get my Masters degree. And I did. In sixteen months, I was awarded a Masters in Taxation from Georgia State University and reignited my passion for my accounting, especially in the area of personal and corporate taxation. I believe this is my calling and the way I can give back to my community…by helping folks with the side of their business that they find the most intimidating…. dealing with their tax situation. I often say that I don’t sleep at night so my clients can.

And that’s what I love the most…. allowing them to focus on family and business goals rather than the mundane and sometimes very tricky world of tax.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Owning a small business in any industry is a challenge. There are the inevitable cash flow and hiring issues and if you are the sole owner, the business will ebb and flow with your personal life. In a tax practice like mine, there are also the never-ending law changes and professional requirements that must be complied with. When you are by yourself, you are in charge of production (billable work), sales and marketing (creating new referral sources) and administration (paying the bills and staying on top of continuing education) and all three are critical. The biggest dilemma is how to divide your time. I’m lucky in that, for at least a few months a year, I don’t have to wonder where to put my time – I’m singularly focused on hitting that tax filing deadline!

Alright – so let’s talk business. Tell us about McClain & Company – what should we know?
My practice specialty is tax planning, consulting and preparation for corporations and high net worth individuals. I believe that I can give my clients the most value during the year, helping them make decisions that are tax advantageous. Where a typical tax preparation firm is simply putting numbers on a form, I prefer to guide my clients into strategies that allow them to take advantage of the tax laws. I help corporate clients structure their mergers and acquisitions, sales of their businesses, retirement planning strategies and other key areas. I work with clients who are considering expanding their business into other states to assist them in determining nexus issues for income, sales and payroll tax compliance. I also focus on resolution of past due tax delinquencies for individuals, helping folks who need a fresh start with the IRS. Having recently completed a Masters in Taxation, I am singularly equipped to navigate the process of obtaining tax relief for my clients. My next goal is to sit for the Tax Court Exam, which will allow me to represent clients in tax court for delinquency cases.

Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
I am so blessed to be able to have this firm and be able to assist my clients the way I think they deserve to be treated. I wouldn’t be here today if not for my very first mentor, Art Gifford, a retired CPA and known by some as “The CPA with the Golden Rolodex.” He taught me that clients could be friends and friends could be clients and if you’ll take good care of them, they will take good care of you. After the first few years building my practice, my clients are my best referral source and I love them all for it!

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