Construction Companies and Today's Economy

Through the second quarter of 2012, economic symptoms are still indicating weakness rather than health, and the symptoms are basically the same as the past two summers.  Europe is in default, and the question, is how much forgiveness is needed to keep the EU together.  Employment growth has halted, with more than half the jobs lost in the recession still unrecovered.  Action on the debt ceiling appears to be another half-year away, but in its place is a bigger question mark: the presidential election.  Like the previous two summers, the real drag on the economic recovery is more emotional than economic.  It is uncertainty. 

Uncertainty, however, should not be used as an excuse not to plan.  Contractors must still develop short-term and long-term strategic plans for their business.  These plans may need to be revised as events unfold, but the having an initial structure in place to work off of is critical.  Many of today’s most successful contractors took advantage of previous recessions with a strategic plan to emerge better positioned and stronger than the competition.

Some things to consider when developing your strategic plans:

1.  Focus on the balance sheet

• Set benchmarks and financial goals to improve key ratios and measurements such as Debt to Equity and Working Capital.
• Eliminate significant under-billings – under-billings are bad for cash flow, and at times, are an indicator of profit fade.
• Manage accounts receivables and retainages – focus on collecting retainages when job is complete; avoid claims and unapproved change orders.

2.  Keep overhead costs in check

• Prepare a budget and monitor frequently.
• Be prepared to take quick action to reduce and keep in line with revenue.
• Eliminate unallocated job costs.

3.  Assess your business mix

• Prepare a five-year schedule segregating contracts by customer, type, location, project manager, estimator, etc.
• Identify what segment of work is profitable – focus on this work.
• Identify what segment of work is not profitable – discontinue this work.
• Analyze the profit gain or fade from original bid to final profit.

4.  Focus on profit, not revenue volume

• At the end of the day, the bottom line pays the bills, not the top line.

5.  Keep succession in mind

• Identify key employees and individuals being developed to fill those key positions.
• Are there merger or acquisition opportunities?

6.  Manage labor

• Improve phase-code labor input.
• Provide weekly detailed labor reports to PM.
• Use field reporting technology – scanner, smart card, remote access, etc.

7.  Review internal controls

• Ensure proper checks and balances are in place.
• Controls over contract costs - daily time reporting, equipment, tools, fuel usage, etc.
• Claims and change order processes – ensure all costs are getting properly captured.
• Bidding and estimating – bid reviews, estimator/supplier relationships, use of current standard unit prices and labor burden rates, etc.

Machinery & Equipment Sales and Use Tax Exemptions Related to Production Agriculture

Sales and use tax is often complicated and ever changing.  To complicate matters, each state has its own regulations and definitions.  In an effort to simplify the complicated, we’ve outlined the basics of some Midwestern state’s requirements.  If you have any questions about your organization and state, please contact us so we can offer information specific to your situation. 

Iowa
“Production of agricultural products" begins with the cultivation of land previously cleared for planting crops or with the purchase or breeding of livestock and ceases when a product has been transported to the point where it will be sold by the producer or processed.

• Exempt
• Machinery and equipment used directly and primarily in the production of agricultural products or in a manufacturing process.
• Replacement parts for exempt machinery and equipment.
• Computers used in processing or storage of data by a commercial enterprise (farmers cannot purchase computers tax free, but an agribusiness may be eligible for exemption).
• Taxable
• All vehicles subject to registration and all equipment attached to a vehicle subject to registration.
• Labor to repair exempt machinery and equipment or parts not separately itemized from taxable labor.
• Grain testing and grain storage.

Illinois

• Sales of new or used farm machinery and equipment certified by the purchaser to be used primarily for production agriculture and replacement parts for such machinery and equipment are exempt from sales tax.
• "Farm machinery” includes tractors, combines, balers, irrigation equipment, cattle and poultry feeders, tools, registered nurse wagons, and fertilizer and chemical spreaders, but not improvements to real estate such as fences, barns, roads, grain bins, silos, and confinement buildings. However, the exemption applies to certain machines purchased by farmers from retailers and installed as realty improvements, such as augers, grain dryers, automated livestock feeder bunks, automatic stock waterers, water pumps, specialty heating or lighting equipment.
• Production agriculture includes the raising of livestock, growing of crops for feed or food products, and the growing of seed stock.  Growing of crops is limited to activities necessary in tilling the soil, planting, irrigating, cultivating, applying herbicide, insecticide, or fertilizer, and harvesting and drying of crops. 

Missouri

• Farm machinery and equipment are exempt from tax if:
• Used exclusively in agricultural purposes.
• Used on land owned or leased for the purpose of producing farm products.
• Used directly in the production of farm products to be ultimately sold at retail.
• Replacement machinery and equipment:
• An exemption from sales and use taxes is provided for replacement machinery, equipment, and parts used directly for manufacturing, mining, fabricating, or producing a product intended to be sold for final use or consumption.
• The exemption also includes materials, supplies, and parts required solely for the installation or construction of the machinery and equipment.
• Replacement machinery and equipment does not have to be identical to items being replaced, but may qualify for exemptions as improvements or modifications.

Minnesota

• If you buy or lease qualifying capital equipment for use in Minnesota, you are eligible for a refund of the Minnesota and local sales or use tax you paid.
• Capital equipment means machinery and equipment purchased or leased, and used in Minnesota by the purchaser or lessee primarily for manufacturing, fabricating, mining, or refining tangible personal property to be sold ultimately at retail if the machinery and equipment are essential to the integrated production process of manufacturing, fabricating, mining, or refining.  For example, agribusiness may qualify if the equipment is used in the manufacturing of grain products.
• Sold ultimately at retail means that the product being produced must be intended for sale at retail, but does not mean that the producer must make the retail sale.

Wisconsin

• A sales and use tax exemption is available for machines and specific processing equipment and repair parts or replacements thereof, exclusively and directly used by a manufacturer in manufacturing tangible personal property.
• Types of businesses which are usually considered to be manufacturers include:
• Fertilizer plants.
• Flour and feed mills including mobile units.
• Grain dryers.
• The Manufacturing and Agriculture Credit is available to individuals and businesses for taxable years that begin on or after January 1, 2013.
• An individual, estate, trust, partnership, LLC, or corporation can claim the credit if the claimant owns or rents and uses in Wisconsin real property and improvements assessed as agriculture property, or owns and rents and uses in Wisconsin real and personal manufacturing property.

Please contact Bergan Paulsen at 800.741.7087 or www.berganpaulsen.com with any questions.  We can assist in performing a sales and use tax analysis or to review whether your organization is eligible to obtain refund claims on prior year’s sales and use tax paid.

GET MORE – Something of Greater Importance

We recently asked you to take a few minutes to tell us how we are doing, and we thank you for your time in filling out our survey.  What we want you to know is that we truly listened to what you had to say and are taking a look at how we can better our business so you can continue to better yours.

First, we have to agree with the 100% of you who said our people are friendly (we’re Iowans after all!).  They are the people who come to work early and stay at the office late so we can continue to live our mission – to provide timely, quality services which exceed the expectations of our clients. Their technical expertise is unmatched (and you agreed!), but more than that, their passion for your businesses is something of greater importance.  We believe our people define what it means to GET MORE. 

In today’s changing business environment, we believe in having partners that you trust to look at all aspects of your business.  This is exactly what you should expect from us.  You should expect to hear from us as we continue to work together to help you meet your goals.  Because your success is of the greatest importance, and we believe you deserve MORE.

If, at any time, you do not feel that our service or people define what is MORE, please let us know.  You can contact any of our people or just shoot us an email at feedback@berganpaulsen.com.

THANK YOU.

A Day in the Life: Client Accounting Services Edition

A day in Client Accounting Services (CAS) is difficult to describe because every day is very different.  Of course, I drink my fair share of coffee, have multiple Spotify playlists to fit my mood, and, like any accountant, I have a list of projects and clients that require my attention.  For me, client contact is the spice of life.  Each client’s rich history with their small business requires CAS team members to form a relationship with their clients, and to be able to adapt our skills and knowledge to their differing needs.

By taking care of the so-called necessary evils of owning a business – the financials, payroll, and sales tax – I allow my clients to focus on what they love to do, be it plumbing, flower arranging, construction or dentistry.  Client Accounting Services aims to make these overwhelming, but necessary, pieces of business ownership effortless.  I address clients’ questions and concerns through phone calls and email throughout the day.  Sometimes they receive correspondence from one of many business-related tax agencies, and their first phone call is to me to help them “translate government speak.”  Sometimes they are venturing into a new part of QuickBooks and want to check in before they “mess something up.”  And, still other times their QuickBooks or tax website is acting in an unexpected manner and they want to tap into our expertise to finish their task with confidence.

Another big part of my day at Bergan Paulsen is collaboration.  Each staff member has their own area of expertise so we are always working together to make sure all of the bases are covered for a client.  If a client asks a question outside of my expertise, I’m encouraged to say, “I don’t know the answer to that, but will talk to one of my colleagues and someone will get back to you with an answer.”  Because we have 100+ team members, our clients know they have access to 100+ big brains attached to 100+ big hearts.  We all want what’s best for our clients, and there is a lot of satisfaction in unraveling a financial mystery – with the help of everyone at BPC.

There are days when I wonder “where did that 8 hours go?!”  When I’m entering my time into our billing software I can see that even if I didn’t get through my to-do list, I did a lot of good work helping our clients.  I’m a nerdy accountant to the core and love crunching numbers, but knowing that I spend my days  helping clients realize their small business dreams is why I keep coming back every day!

For more information on our other offices, check out these links:

• Virtual Tour of our Waterloo Office
• Virtual Tour of our Cedar Rapids Office
• A Day in the Life of a Staff Accountant in our Coralville Office  

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Erin Bockoven, Client Accounting Services | ebockoven@berganpauslen.com
LinkedIn | QuickBooks ProAdvisor
Erin is a Beloit, Wisconsin native. She attended Luther College, where she received her B.A. in Accounting. Erin works hard to understand her clients’ individual needs so they can focus on doing what they love.  Read more about Erin on our website.

A Dozen Interview Tips from the desk of an HR Director…

Interviewing with a potential employer can be nerve racking.  Here are a few tips to help prepare yourself for your interview and land your dream job with Bergan Paulsen:

1.    Show up early, but not too early

• Believe it or not, you can arrive too early to an interview.  If you show up too early to an interview this can pressure your interviewer to be ready for your meeting sooner than they were prepared for.  Often, interviewers are on a tight schedule and this can throw off their day.  Give yourself enough time to get to your interview location between 5-10 minutes early. 

2.    Dress to impress

• When interviewing with a CPA firm for a professional position, it’s almost always appropriate to wear a suit (and tie for men). 

3.    Do your research

• On the company – You should know the background of the firm, services offered and any specialties they have.
• On the industry – Familiarize yourself with the latest trends in the accounting industry prior to your interview.
• On the interviewer – If you know your interviewer, take some time to research them as well.  (We recommend looking on LinkedIn to better understand their position in the firm, community involvement, etc.)

4.    Prepare your answers to frequently asked interview questions

• There are a slew of websites out there that provide examples of interview questions.  Pull one or two of these lists and have an idea of how you would answer the questions.

5.    A confident (but not bone crushing) handshake and a smile go a long way

• A confident handshake says a lot about a person.  However, be sure that that you’re not squeezing too hard – especially if you’re interviewing with a woman.
• A friendly smile can help set the tone for a friendly interview.  This will also let your interviewer know how you will greet your clients in the future.

6.    Relax

• While you may be shaking on the inside, try to appear as relaxed as possible during the interview.  Be careful not to cross the line of over familiarity, however.

7.    Be aware of your body language

• Often, body language speaks louder than words.  If you’re saying “Yes, I’m really interested in working for your firm,” but you’re slouching in your chair, what you’re really saying is, “I find you and your firm very boring.”  You want to sit up straight, keep your arms uncrossed and maintain good eye contact. 

8.    Focus!

• You’ve come to interview, now it’s time to focus on that interview.  Put your phone away and on silent.  Better yet, don’t bring your phone inside with you.  Don’t bring anything with you but your portfolio, extra copies of your resume, references, and your list of questions.

9.    Listen to the interview question completely before answering

• Do not interrupt the interviewer while they are asking a question.  Your turn will come.  Also, make sure you understand the question fully before answering.  Don’t ramble along hoping that you’ll say the right thing.  Ask the interviewer to clarify the question if you’re unsure what they’re asking.

10.    Ask questions that you’re genuinely interested in knowing the answer to

• All too often candidates will ask questions that they think they should ask instead of the ones they really want the answer too.  Have a list of questions prepared prior to the meeting (or jot down questions throughout the meeting) to ask at the end of the interview.  Beware of irrelevant or inappropriate questions regarding, salary, paid time off, benefits or attractive co-workers.

11.    Thank the interviewer and find out the next step in the process

• You will want to know what the next step in the interview process is so you know whether you will need to contact the interviewer again. 

12.    Send a brief “Thank You” note to your interviewers

• It has become a common courtesy to send your interviewer(s) a “Thank You” note after your interview.  This doesn’t have to be lengthy or anything special – in fact, it’s better if it isn’t – just a simple note will do.  

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Cori Power, Human Resources Director | cpower@berganpauslen.com | LinkedIn
Cori handles all matters related to human resources including recruiting, on-boarding, benefit enrollment, performance/salary reviews, policy implementation, and MORE for Bergan Paulsen.  For Cori, the highlight of her role is the opportunity to help individuals grow into the professional they want to be.  Read more about Cori on our website.

Virtual Tour of our Waterloo Office

The team in our Waterloo, Iowa office recognizes the many perks of working at Bergan Paulsen.   Get an inside peek and hear from our CPAs and accountants what they do on a typical day.  As you will see, we enjoy a beautiful view and delicious food!

For more information on our other offices, check out these links:

• Virtual Tour of our Cedar Rapids Office
• A Day in the Life of a Staff Accountant in our Coralville Office
• A Day in the Life - Client Accounting Services in our Cedar Falls Office

A Day in the Life of a Staff Accountant in our Coralville Office

As a staff accountant at a public accounting firm, I was asked to write about my typical day at work.  Unfortunately, or fortunately, no day is quite “typical.”  I am writing this blog outside of "busy season” and life outside of tax season is a lot less stressful. While each day brings challenges and excitement, these days are more predictable than they are between January and April.

My day usually starts right at 8:00 am.  I start by logging into my computer, and pulling up my email. I read the Corridor Business Journal’s update email which fills me in on what is happening locally in the corridor (did you read about Bergan Paulsen’s recent merger?). I also check the CPA Letter Daily which keeps me current on what is happening in the CPA profession, the business world, and the economy (lots of tax changes around the corner!).

Upon checking my emails, I turn to my work pile which I refer to as my 'tab'. My omniscient boss keeps my tab full and prioritized. I usually give him a sigh or three when he puts work on my tab, but the truth is I don't mind staying busy.  The day goes by faster when I’m busy.  Well, as long as there aren't any TPS Reports to do.

My typical work outside of tax season includes, but is not limited to: payrolls, compilations, payroll tax returns, business and individual tax returns, and audits.  I currently have three bi-weekly or bi-monthly payrolls of various sizes. Each one has different complexities and issues to work through.  In addition, I have three monthly compilations that offer the same variety.  And, each quarter I work on payroll tax returns.  This quarterly work adds some welcome tasks that are easier to work through than the monthly work.

Between the reoccurring work, there are always tax returns to get done – as extension deadlines approach – in order to accommodate our clients’ needs.  Finally, I help out the Agriculture team with audits throughout the summer and early fall.  I go on about one audit per month and they typically last three to four days in length.

Before leaving for day (usually around 5:00), I record my time spent on each project in our time tracking system.  I then answer any last minute emails, and wave at my coworkers as I head out the door!

For more information on our other offices, check out these links:

• Virtual Tour of our Waterloo Office
• Virtual Tour of our Cedar Rapids Office
• A Day in the Life - Client Accounting Services in our Cedar Falls Office

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Steven Christopher, Staff Accountant | schristopher@berganpauslen.com
Steven is a staff accountant who focuses primarily on tax preparation and planning. He is passionate about building client relationships and learning about how to best improve business operations.  Read more about Steven on our website.

Virtual Tour of our Cedar Rapids Office

Wondering what it looks like within the four walls of the Cedar Rapids, Iowa office?  Watch the video below to find out what Bergan Paulsen CPAs and accountants are up to on a typical day.  One thing is for sure, we have a wide variety of listening options!

For more information on our other offices, check out these links:

• Virtual Tour of our Waterloo Office
• A Day in the Life of a Staff Accountant in our Coralville Office
• A Day in the Life -Client Accounting Services in our Cedar Falls Office

Tax Changes Coming into Effect in 2013

With 2013 fast approaching and the Supreme Court’s decision to uphold the Patient Protection and Affordable Care Act, substantial tax law changes are looming for many Americans.  The sunset of the “Bush tax cuts” is to take place at the end of this year, ushering in higher tax rates and a return to many pre-2001 policies.  This means individuals and businesses will need to plan ahead.  We have outlined a few key-changes below.

Income tax rates

• 2012 top rates:  Ordinary income – 35%; Long-term capital gains – 15%; Qualified dividend income – 15%
• 2013 top rates:  Ordinary income – 39.6%; Long-term capital gains – 20%; Qualified dividend income – 20%

Medicare surcharges

• 3.8% surcharge on unearned income (i.e., interest, dividends, capital gains, passive income, including from partnerships and S corporations in which the taxpayer does not materially participate).
• Applicable to taxpayers with adjusted gross income for 2013 exceeding $250,000 for married couples and $200,000 for single individuals.  Thus, maximum long term capital gains rate in 2013 will be 23.8% and maximum rate on dividends will be at 43.4%.
• 0.9% additional Medicare tax on compensation of more than $200,000 for an individual or $250,000 for married couple, imposed on both wages and self-employment income.

Itemized deduction limitation

• Certain itemized deductions will again have a limitation equal to the lesser of (a) 3% of the adjusted gross income over the “applicable amount” (expected to be approximately $170,000) or (b) 80% of the amount of the itemized deduction otherwise allowable for the taxable year.

Estate and gift tax rates

• 2012 exemption amount: $5,120,000 per person
• 2013 exemption amount:$1,000,000 per person
• 2012 top rates:  Gift tax – 35%; Estate tax – 35%
• 2013 top rates:  Gift tax – 55%; Estate tax – 55%

INCOME TAX PLANNING
In view of the uncertainty as to whether any legislative compromise can be reached prior to year-end, tax-planning will be critical during the second half of 2012.  While immediate action may not be necessary, a thorough review of your income tax situation for 2012 and 2013 is a must in the near term in order to plan for prudent decision making before year-end.

Common year-end income tax planning decisions:

• Recognize capital gains in 2012 or 2013
• Recognize capital losses in 2012 or 2013
• Potential acceleration of ordinary income in 2012 vs. 2013
• Timing of itemized deductions to maximize taxable benefit
• Convert traditional IRA into a Roth IRA in 2012
• Consider reconfiguring portfolio

The increasing tax rates and Medicare surcharge also may drive investment and income decisions for 2013.  With qualified dividend income set to be taxed at a maximum 43.4% rate instead of the current 15%, the allocation of your current investment portfolio may result in a lower after-tax rate of return than a portfolio designed with the consideration of new tax rates (i.e., more allocated to tax-exempt bonds, non-dividend yielding stocks, etc.).  Coordination between your investment and tax advisors is critical to maximizing after-tax returns if you believe your portfolio may not be currently aligned to account for increased tax exposure.

ESTATE AND GIFT TAX PLANNING
The current gift and estate tax exemption is $5,120,000 per person, but will revert to $1,000,000 per person in 2013.  Without legislative changes, the opportunity to transfer wealth tax-free to future generations declines significantly starting on January 1, 2013.  We recommend meeting with advisors to develop a strategic plan if this will effect you.  The combination of historically low interest rates, large exemption amounts, and in some cases, relatively low asset values, makes it a good time to consider estate planning strategies where the strategy’s success is largely dependent on these factors. 

THE NEXT STEPS
With less than 6 months left before tax law changes take effect, strategic income and estate tax planning is more important than ever.  We encourage you to consult with your advisors on your specific situation to develop a strategy to minimize your tax exposure and prepare for the changes ahead.

For more information, please contact Bergan Paulsen.

Get to Know MORE About Dave Richter

Dave Richter, Assurance Partner | drichter@berganpauslen.com | LinkedIn

Bergan Paulsen Assurance Partner, Dave Richter, talks with us about leadership lessons, his love of numbers, and what he looks for when hiring.

What are some of the more important leadership lessons you’ve learned in your career?
Over the years, I’ve learned that you must practice what you preach, which ultimately leads to credibility.  In addition, leaders must be open and caring to those around them.

Why accounting?  What brought you to this career and what do you like most about it?
I’ve always enjoyed math and working with numbers.  These areas were an integral part of a basic high school accounting class I took and enjoyed, which led to my pursuit of an accounting degree in college. 

Today, I enjoy the flexibility that the profession offers.  Both flexibility in hours and the types of work I am able to do.  I work with many industries and businesses of all sizes.  Ultimately, it all leads to my being able to help other people, which is very rewarding.

Why BP?  What differentiates this firm for you?
I joined the firm many years ago when it was still relatively small.  So, for me, the opportunity to be a partner presented itself early, and I was excited by the challenge.  Throughout the years this opportunity has allowed me to lead and help the business grow to what it is today!

Our difference is our personal service.  We take a genuine interest in our clients.

What do you look for when you hire?
1)    Strong people skills
2)    Educational background
3)    Work and extra-curricular activity

Really, it comes down to finding well-rounded people who will be a cohesive part of our team.

What advice would you give someone getting out of school right now?
You know, I would tell them to keep their eyes open to opportunities while they are young.  You never know when a particular meeting or encounter could lead to something that makes you truly happy.

Bergan Paulsen Enters the Des Moines Market

We are excited to announce that on January 1, 2013, Bergan Paulsen will establish a Des Moines presence through a merger with Gegner Company, PC.  Our reasons are simple.  We believe our firms have a consistent vision for the future.  Our focus will continue to be on offering a depth and breadth of knowledge with a team who is passionate about our clients, that is unmatched in the profession.

We are committed to our clients and will see to it that the service you receive remains consistent during this time.  You can expect to continue to discuss your needs with our friendly staff as we move forward with this exciting change.

For Bergan Paulsen, this means we are expanding into a new market – the Greater Des Moines area – and gaining a partner with over 30 years of experience in the accounting profession.  This expansion is consistent with our company’s goals.  Ultimately, we look forward to offering businesses within the Greater Des Moines area the expertise and personalized service that you have come to expect from us.

We are excited about the opportunities afforded by this merger.  We believe the consistent vision between our two firms is obvious and know this opportunity would not be possible without our valued clients.  If you have questions at any time, please feel free to contact us.  We look forward to continuing our relationship with you and providing MORE.

To view the press release or to contact us, please visit our website: www.berganpaulsen.com. 

Top 10 Questions Asked During Bergan Paulsen Recruiting Process

We’ve compiled a list of the top 10 questions that are frequently asked during the recruiting process with Bergan Paulsen.  See the answers below:

1. What is the background of the firm?

Although we can trace our roots back to the 1940s, Bergan Paulsen as we know it today was formed by the 1987 merger of two Waterloo CPA firms: Murley, Bergan & Company and Smith, Paulsen & Evans. Since this merger, Bergan Paulsen has grown into one of the most trusted and respected CPA firms in Eastern Iowa. Our team provides tax, assurance, accounting & payroll, technology and advisory services to businesses all across Eastern Iowa.

We opened our Cedar Falls office in 1992 and added an office in Cedar Rapids in 1996. In 1999, we joined with the Cedar Rapids firm of Laird & Heiple, LLP. Our newest location in Coralville opened in February 2007. (View office locations here.)

2. What is the BDO Seidman Alliance?

The BDO Seidman Alliance is a nationwide association of independently owned local and regional accounting and consulting firms that are aligned with BDO, one of the largest accounting and consulting organizations in the world. Our firm has access to BDO and BDO International, which gives us resources, services and technical knowledge of the fifth largest accounting and consulting organization in the world.  It's the best of both worlds, really: the expertise of an international accounting firm with the values and service-focus of a local firm. It's why you GET MORE with Bergan Paulsen

3. What sets BP apart from other firms?

Bergan Paulsen is committed to offering the best possible client service there is.  We focus on getting to know our clients on a personal level and learning what things that keep them up at night and how can we help to alleviate them.

We put that same effort into our team.  Without our team members, Bergan Paulsen wouldn’t be the firm we are today.  Our management team takes the time and effort to get to know each of our staff on an individual level in terms of what their short and long term goals are, what they love (and don’t love) to do, what their strengths are and how they fit into our team, how they like and need to be guided and most of all, what Bergan Paulsen can do to realize their goals of career growth and development.

4. What does “GET MORE” mean?

GET MORE means so many different things.  When it comes to our client getting more, Bergan Paulsen really strives to exceed our clients’ expectations by giving them more personalized service, more practical business advice, more strategic insight, more expertise and overall more of anything else that will help them become a successful business.

When it comes to our employees getting MORE, Bergan Paulsen understands that a happy team is a better team.  We're committed to hiring and developing talented, motivated individuals and offering them a flexible work environment, a supportive management team and a culture that emphasizes teamwork.  As stated in Q#3 – we get to know our staff on a deeper level than “what are your title and years of service.”  We want to know what makes them tick and how we can provide that for them.

5. What is the firm culture at BP?

We're not your stereotypical stuffy accounting firm. We're down-to-earth people with outside interests, hobbies, families and lives. And, believe it or not, we also have a lot of fun. We believe that in order for you to be productive at work, you have to be happy outside the office. So sometimes, we'll make you go home. Even if you don't want to.

6. What does Bergan Paulsen look for in a potential hire?

There are many things that Bergan Paulsen looks for in a potential team member.  We want someone with the knowledge and ability to do the technical parts of the job, that’s a given.  But what really sets one 4.0 student apart from another is their ability to communicate with others.  CPAs need to have some technical ability in order to be a good CPA, but what makes a CPA great is their ability to build trust and rapport with their clients and other professionals in their network.  Some other characteristics we look for in a team member are focus, ambition, integrity, responsibility and the abilities to think strategically and outside the box.  Individuals with these qualities are what we call “partner material.”

7. What is the interview process?

For most candidates, Bergan Paulsen has a two-part interview.  Generally, the first interview is conducted with our HR Director, Cori Power.  This interview may be held on-campus or in one of our four office locations.  The second interview will be held in the office the candidate is interviewing for.  That in-office interview will be much more extensive and the candidate will meet with at least three partners/managers.  We also try to fit in lunch with additional staff members so the candidate can get a good feel for our people and culture. After those two interviews, if the candidate is a great fit, we will offer them a position.  The entire process can take anywhere from 2 to 4 weeks.

8. What type of training does BP offer their new hires?

Once our new hires come onboard, their first week is spent training on the Bergan Paulsen brand, policies and procedures, tax software and other important items.  Later in the year, our new hires will go through two more separate three-day trainings on individual tax returns (ITRs), and our assurance and audit polices and procedures.

In addition to the formalized training, our new hires will get their fill of on-the-job training as well as get the opportunity to participate in our Mentor Program.  Each new hire will be assigned a mentor that will guide them through their first year.  Bergan Paulsen is a team environment and we expect and welcome questions from our newly hired team members.

9. What are the comp and benefits offered through BP?
Bergan Paulsen offers compensation and benefit packages that are competitive with the markets in which we operate.  We understand that this is important to any candidate and we want them to feel financially comfortable and stable in accepting our employment offer so they can focus on their career and professional growth.

10. What type of projects will I be working on when I come onboard?

Bergan Paulsen believes that variety is the spice of life.  We also believe that while earning a degree is extremely beneficial in learning the basics of accounting, it simply cannot give students a well-rounded perspective on both the tax and A&A arena.  As such, we do not ask new hires to specialize in tax or audit until they’ve gained good experience in both fields.  Our newer team members will get to work on a wide variety of tax returns and audit fieldwork for clients in many industries.  This is generally a two to three year timeframe.

We emphasize the importance of gaining experience in both fields before specializing, but we understand that sometimes one field is a much better fit than the other well before two to three years into their career.  When this happens, we are more than willing to start a professional down the path of tax or audit sooner.

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Cori Power, Human Resources Director | cpower@berganpauslen.com | LinkedIn
Cori handles all matters related to human resources including recruiting, on-boarding, benefit enrollment, performance/salary reviews, policy implementation, and MORE for Bergan Paulsen.  For Cori, the highlight of her role is the opportunity to help individuals grow into the professional they want to be.  Read more about Cori on our website.