Today we’d like to introduce you to Tracy Jones.
So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I earned a Bachelor of Business Administration degree at Stephen F. Austin State University in 1995. I then pursued my graduate degree, earning a Master of Professional Accounting degree from University of Texas at Arlington in 1999. My career in public accounting began at PricewaterhouseCoopers auditing small to medium-sized businesses. I also spent time working in the private sector in treasury, SEC reporting and internal audit. I left the workforce for three years to stay home with children. I re-entered the workforce part-time working with a small family-owned CPA firm, which I worked with for nearly six years. My combined experience helped me grow my love for small businesses and my desire to help small business owners ensure accurate and timely financial information. In 2011, I started Tracy Jones CPA, LLC to do just that. I remember the strong urge to start my own business coming to me while driving to go Christmas shopping. In December 2011, Tracy Jones CPA, LLC began. My business started out offering only QuickBooks consulting and bookkeeping services. My business grew quickly and clients began asking me to prepare their tax returns, saying, “you know our business better that our current tax preparer.”
So, I began offering tax preparation services and that grew just as quickly. We are now a firm of four CPA’s. It wasn’t long before we realized proactive tax planning was essential to business owners to help them grow their wealth and become tax efficient. Once the tax returns are due, it is too late to make strategic tax decisions. We began offering tax planning and advisory services in 2017 are realized it is my passion. We now work exclusively with small business owners on an advisory level. Maintenance (bookeeping, tax preparation, etc.) is the result of proper planning. In addition to tax planning strategies, our advisory services include cash flow planning, budgeting and audit proofing the business Now, for our planning clients, the tax return is just a planned for by-product and not a source of pain and surprise.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
My biggest struggle has been balancing home life with my business. Being a business owner means working all hours of the day and juggling that with family life has been a challenge. My husband and I have two boys, now 14 and 12. When the business started, they were still in elementary school. For us, starting a family wasn’t easy. We struggled with infertility for five years and finally had both of our boys through embryo adoption. We adopted each of them from two different genetic families. That is another story to tell, but since their existence in our family was miraculous, I cherish time with them all the more. Being able to be there for them and be involved in their lives was very important to me. I decided early on that my firm would be family-friendly and put family first. This is the approach I’ve taken with my staff as well. We are either all women with families. Many CPA firms say they have work-life balance, but I truly stand by it. Our family goes skiing every spring break, even though it is in the smack dab middle of tax season and usually over March 15 business tax deadline. I only have a few more years left with them at home, so that is my commitment.
Every business owner struggles with hiring and finding team members who adopt the mission of the business as their own. My first hire was wonderful and clients loved her. I even offered her partnership with my firm. But, she betrayed my trust, took some of my clients and started her own practice across the street. I know this is very common, but it was a real blow to me personally. It hurt me more than my business, and my business almost crumbled as a result! Family members, friends and advisers rallied around me and told me not to give up. My business was still standing, clients still needed me and I still had so much to offer small businesses in the area. It ended up being a turning point in my business and our two firms actually went in completely different directions with regards to service offering. We are now in a position to collaborate and refer clients back and forth. It all worked out in the end.
Alright – so let’s talk business. What else should we know about you and your career so far?
Here at Tracy Jones CPA, LLC, we care the goals of business owners and offer tax and accounting services that help them reach them. We identify the owner’s overall strategy long before a tax return is due and will educate them to become tax efficient. We use advanced tax saving techniques that align with the owner’s objectives and ensure they pay the least amount of tax. Tax and accounting, or “maintenance” as we like to call it, is the result of careful planning. We customize ongoing maintenance with this proactive approach in mind. From day-to-day bookkeeping to making informed decisions about hiring more employees or investing in a big purchase, we’re ready to partner with owners to help ensure their success and increase their net worth. We genuinely cares about our clients and their business.
In 2019, we were voted best CPA firm in the Spring/Champions area. I am very proud of that. I am also very proud of my team. I absolutely love working with all of them and I make it my mission to take care of them: to compensate them generously and keep them emotionally happy at work. It makes me feel awesome that they all say I am the best boss they’ve ever worked for. I work hard to keep that title.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
My husband has encouraged me all along the way. He is my biggest cheerleader and advocate. When my head is full of emotion, he provides clarity in decisions and has helped me tremendously. It helps that he also owns a business in client service (financial planning) and has seven team members. He knows what it is like from both the client and team perspective. I remember when I first came home to tell him I wanted to start my own business, he said, “You’re going to have to get clients.” At the time, it was a daunting thought, but he supported my decision anyway. I’m so glad he did!
Another person who played a vital role was my business coach, Carlos Rosales. When my business was at its lowest point after my first team member left, he helped find prospective and reminded me to focus on why I started my business in the first place. During this time, he played a huge role in helping me turn my business around and making it what it is today, although it is still a work in progress.
Contact Info:
- Address: 20405 State Highway 249, Suite 350
Houston, TX 77070 - Website: www.tracyjonescpa,com
- Phone: 832-698-7011
- Email: [email protected]
- Instagram: https://www.instagram.com/tracyjonescpa/?hl=en
- Facebook: https://www.facebook.com/tracyjonescpa/
- Other: https://www.linkedin.com/in/tracy-jones-cpa-7a62b5a/
Image Credit:
Team photo in front of our building was used in our Living Magazine September 2019 ad.
Suggest a story: VoyageHouston is built on recommendations from the community; it’s how we uncover hidden gems, so if you or someone you know deserves recognition please let us know here.
