Knowledge Center

Client Spotlight: Goering & Granatino

Accounting firm Goering & Granatino focuses on culture and new acquisitions to drive steady growth

Amber Goering and Frank Granatino had a vision to create a firm designed by business owners, for business owners. With an emphasis on relationships and value-added outsourced services ranging from bill pay to boardroom presentations, the firm has grown organically, as well as through strategic acquisitions, with two of those financed by Country Club Bank. Founder and partner, Frank Granatino, shares the firm’s growth story and also provides tips on getting the most from your CPA firm, and how to take advantage of new tax code changes that allow for larger state tax deductions.

Amber Goering and Frank Granatino, the principals of Goering & Granatino, P.A., Certified Public Accountants, have a passion for serving business owners because they know what it’s like to have a dream, work tirelessly to make it happen and then grow it into a thriving and self-sustaining business. 

Which is why they believe individuals, entrepreneurs, and business owners deserve more than being treated as just another file.

“As business owners ourselves, we understand that owners need professionals who are collaborative and creative, reliable and responsive, and accountable and encouraging,” Granatino said. “And that’s what we strive to deliver day in and day out.”

The approach is working. Since 2015, the firm has grown to 37 staffers, serving hundreds of clients across the region, providing expert guidance on accounting, tax, and business formation, as well as fractional CFO services.

While much of the growth has been organic, the firm has also used strategic acquisitions to gain instant access to new clients and additional employees. Country Club Bank has provided financing for two of the acquisitions.

“We’ve had our personal and business accounts with Country Club Bank since we started our firm, and we’ve always been impressed with the service and professionalism,” Granatino said. “It was a natural fit for us to secure our business acquisition loans with the bank.”

Granatino said underwriting and funding went smoothly and quickly. Valuations, buy-sell agreements and credit checks were reviewed and approved by Country Club Bank teams and timely closings were scheduled.

“They’re experienced, they’re responsive and they’re efficient,” Granatino said. “It’s why we’re with Country Club Bank, it’s why we stay and it’s also why we recommend them to our business clients as often as we can.”

Advice for Working with Your Accounting Firm 

Granatino said the most gratifying part of his practice is helping business owners make good decisions. He has this advice for business owners looking to make the most of their accounting firm relationships.

  • Cultivate close connections and collaboration among all your professional resources. Make sure your accounting firm, law firm, and financial advisory professionals know each other and know your goals and plans.
  • Be diligent and precise with your accounting controls and practices. Keep records up-to-date and make timely filings for all important documents and payments.
  • Listen to professional recommendations. Your accounting professionals wouldn’t bring them up if they weren’t important. Heed their advice.

Need to Know: Pass-Through Entity Tax Election

Granatino said one of the most important tax law changes he’s tracking for clients in Kansas and Missouri is the new pass-through entity tax election.

Granatino recommends that a business owner consult his own tax advisor on this issue, but the new rule now allows partnerships and S corporations to make an annual election to pay an entity-level state tax, thereby making state taxes deductible from federal income taxes.

Eligibility, elections and payments should be calculated by a professional, but business owners should be asking if this new rule could benefit them.