Looking Back 2020

As 2020 draws to a close, we finally have a moment to look back and reflect on such an unprecedented year. Even with all the challenges it has presented, we feel encouraged and inspired! This year, more than ever, has given us the opportunity to reconnect with old friends and to demonstrate that an accounting firm can do a lot more than filing tax returns.

The tax season started out the same as previous years, but that quickly changed with the arrival of the stay-at-home orders. Many of our clients, friends and associates were left in the dark, not knowing what to do or how they could continue to run their businesses.

As soon as the government announced the first COVID-19 relief package back in March, our office was inundated with inquiries for financial statements, payroll reports, tax returns, cash flow projections, clarifications on government assistance programs, new tax laws, and consultation requests. All of which came with a sense of urgency.

Witnessing the widespread panic, we immediately got to work!

In order to provide meaningful and timely guidance, we decided to take a proactive approach. We spent countless hours researching and staying on top of the ever-changing rules, drilling in areas that were relevant to those we served and translating the rules to layman’s terms for ease of understanding. We sent out information on assistance programs to those who might benefit from them as soon as the information was made available.

To enable better communication and to better serve our clients, our team continued to come to the office. Fortunately, our office space has been configured in a way that is more than enough to accommodate social distancing. Needless to say, that saved some stress! Though working remotely can be convenient, working in the office allows us to work more efficiently, saving time and frustration when technology does not work as designed.

There is no greater reward for us than seeing our clients succeed. One particular highlight was when a business reached out to us after their PPP loan application was rejected. After reviewing the business’s records and doing some research, we communicated with their bank and informed them of the applicable provision that this business was eligible for. The bank then approved the loan. The client was overjoyed, as were we!

Thank you to our many friends, clients and acquaintances, both old and new, for continuing to put your trust in Dao CPA, P.C. We are grateful to have been by your side every step of the way and we will continue to be there for you. Your trust and support makes our work easier.

We wish you a Happy Holiday Season and a fruitful 2021!

From Dao CPA, PC Team | Member of Accounting in a Box