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Our firm has provided accounting services to State Farm Agents for over 30 years. Our experience includes working with new agents, retired agents and all of those between. We currently represent approximately 500 agents in 14 states. As a special service to our State Farm clients, we offer the following benefits:

Tax Projections and Planning

One of the biggest mistakes agents can make is getting behind on their taxes. This often happens when agents rely on their Scorecard Bonus or AIPP to pay the previous years taxes. We offer agents the service of preparing projections and discussing planning opportunities to reduce their taxes before the close of the tax year.

Quicken and QuickBooks Training

We assist agents with the setup and training on Quicken or QuickBooks. We provide a standard Chart of Accounts we prefer agents utilize. This allows us to monitor and compare agents expenses to their peers. For agents already setup on Quicken or QuickBooks, we assist in transitioning their categories to those we use for all other State Farm clients.

Agent Comparisons

With the number of agents we represent along with the 30+ years of State Farm experience, we are able to advise agents on how their agency compares to similar sized agents. Our State Farm client base covers new agents grossing under $200k to long-term agents grossing in excess of $1M. We are able to provide a client with profit ratios, expense ratios, and share what other agents are doing to become more profitable. We also analyze an agents taxes and compare to their fellow agents to determine if there are strategies to implement for reducing their taxes. 

Choice of Entity

One of the biggest questions we receive from State Farm agents relates to entity selection. Should you be a sole proprietor? Should you incorporate? We prepare a very client specific and extensive analysis with regards to entity selection. This analysis covers many of the advantages and disadvantages of each type of entity. There are both tax issues and non-tax issues an agent needs to understand before changing the structure of their agency, and our analysis assists with understanding these issues. 

Email Updates and Newsletters

We periodically email our State Farm clients with important tax proposals and tax changes that could impact their business. In addition, we notify our clients about certain tax requirements that require their compliance. One example is the 1099 filing requirements that impacts virtually every agent. Finally, we distribute year-end tax update and planning newsletters to help agents plan for minimizing their taxes.

State Farm Seminars

Over the past 30 years, we have spoken at numerous State Farm tax seminars sharing information and ideas with agents across the country. These seminars have been held at Regional Offices, AFOs, Study Groups, and National Agent events. We have also sponsored our own State Farm tax seminars for agents in various cities and towns. 

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