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Robert Cox and Liz Kirby have been business partners for nearly thirty-five years, setting out on multiple business ventures within the insurance industry. In between selling businesses and starting new ones, MGA has been by their side through many complex situations.
Their story is an excellent example of the MGA way. See how Paul and our team came in to make the complex simple for Robert and Liz.
MGA Knows the Ins and Outs of the Insurance Industry
Robert and Liz came to MGA in 2008 as they were looking for someone to help them correct some complicated accounting problems. Liz tells us that Paul came in and could immediately see all the issues at hand.
“It was a lot of work in the beginning, trying to get everything straight, but I don’t know that we could have done it without MGA.”
Paul was also able to understand their books without any guidance, which Liz tells us is rare in the insurance industry. In insurance, one plus one still equals two. There’s no question about that. But the verbiage people use is different, and it can be foreign to some who have never been exposed to it. Paul understood it all from day one, allowing him to dive right in and solve their complex issues.
Selling Your Business? Taxes Are Key
As Robert and Liz were preparing to sell their great business, they tell us how instrumental Paul was in that process. Paul led them through how the numbers would fall so they wouldn’t be hit with future tax liabilities. In addition, Paul reviewed the various drafts of the Purchase and Sale Agreement and worked with the attorneys to be sure the structure of the sale minimized the tax to the shareholders. As plans unexpectedly changed the week before the sale was to take place, Paul was there to step in and immediately assist. Liz tells us that if it wasn’t for Paul, she’s not sure they would have made it through the deal.
“Some people don’t want to spend money for a firm like MGA, but I’m not sure why because people like them can save you money in the long run. Making the wrong mistake can cost you with the IRS, so it’s worth it to hire professional experts like Paul and his team. They are very, very good at what they do.” — Liz Kirby
We Ask the Questions You Don’t Even Know to Ask
Robert and Liz, like the majority of our clients, look at us as their business advisors rather than just their CPAs. Liz tells us that she doesn’t have the time to even think about what’s on the horizon as business and technology continue to evolve, so she trusts the MGA team to be on top of that for them.
“I look to the MGA team to tell me what’s going on. I trust them to look at the documents I give them from all angles, noticing if they shed light on other issues that should be addressed. I look to them to ask the questions I don’t even know to ask.”
We have a wide range of clients in the service industries, where name and service are everything. With fierce competition in an ever-changing business environment, quick and accurate information with the right business strategy is key.
Robert & Liz’s business ventures are a perfect example of how we work side by side with our clients—no matter the industry. We are readily available to help you with your complex issues.
