---
title: Why Your Broker and CPA Should Be Working Together
description: Why your broker and CPA should be working together to reduce risk, improve compliance, and uncover hidden savings in your business.
image: https://blog.dspins.com/hubfs/AdobeStock_621133390.jpeg
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[Blake Erickson](https://blog.dspins.com/author/blake-erickson) [Business Insurance](https://blog.dspins.com/tag/business-insurance)
4 Minutes
## Why Your Broker and CPA Should Be Working Together
Why Your Broker and CPA Should Be Working Together
6:41
Most business owners don’t have a people problem.
They have a communication problem.
Not internally, but across their advisors.
You might have a strong CPA. A solid insurance broker. Maybe even a financial advisor and an attorney you trust. On paper, that looks like a well-built team. But in reality, those individuals are often operating in completely separate lanes, solving problems without ever comparing notes.
And that’s where things start to break down.
Because your business doesn’t operate in silos. Your advisors shouldn’t either.
## Everything Comes From the Same Place
Every dollar in your business flows through the same system.
Your insurance premiums, your payroll, your employee benefits, your tax strategy, your retirement planning. It all ties back to the same balance sheet, the same income statement, the same checking account.
But the decisions around those dollars are often made in isolation.
A broker structures a benefits plan. A CPA handles the tax implications. Payroll implements the deductions. And somewhere along the way, assumptions get made, details get missed, and no one is fully accountable for how it all fits together.
It’s not that anyone is doing anything wrong. It’s that no one is looking at the full picture.
## Where That Starts to Show Up
Most of the time, the impact isn’t obvious right away.
It shows up in smaller ways.
A benefit is set up pre-tax when it should have been post-tax. A deduction is coded incorrectly in payroll. A strategy that was supposed to create savings never actually does because one final step was missed.
In other cases, it’s compliance.
ACA reporting requirements that were misunderstood. Forms that weren’t filed correctly. Assumptions made about which employees count and which don’t.
None of these are major issues on their own. But they stack.
And when they do, they either cost you money or create risk that could have been avoided.
## Financial Reporting Isn’t Just a Requirement
This is where accounting often becomes more valuable than most business owners realize.
For many companies, financial reporting is treated as a necessary task. Something you do because the bank requires it, or because a third party asked for it.
But when used correctly, it becomes a tool.
A compilation organizes your financials. A review starts to identify trends and inconsistencies. An audit goes deeper, forcing a closer look at how your business actually operates.
That process alone can uncover inefficiencies. Not because someone is looking for them, but because someone is finally asking the right questions.
How is payroll actually being processed? Where is cash moving? What processes are still in place that no one has looked at in years?
For growing businesses, that kind of visibility matters.
## Benefits and Payroll Are a Common Miss
One of the clearest examples of this disconnect shows up in employee benefits.
It’s a simple question on the surface. Should a benefit be pre-tax or post-tax?
But the answer has real implications.
It impacts the employer’s tax liability. It impacts the employee’s take-home pay. It impacts how benefits are taxed when they are used.
And yet, that decision is often made without input from a CPA.
Instead, it gets implemented based on what “most companies do,” or what seems to make sense at the time.
Even something as foundational as a Section 125 plan document, which allows for pre-tax deductions, is often missing or outdated. Not because anyone ignored it intentionally, but because no one owned the full process.
## Compliance Didn’t Go Away
There’s also a misconception that some compliance requirements have faded over time.
The Affordable Care Act is a good example.
While the individual mandate penalty is gone, employer responsibilities are still very much in place. Businesses are still required to furnish 1095-C forms to employees and file accurate reporting with the IRS.
Where companies run into trouble is in the details.
Union employees. Seasonal workers. Employees coming in and out throughout the year. Those variables complicate things quickly, and incorrect assumptions can lead to penalties that add up faster than expected.
Again, this isn’t usually a knowledge issue. It’s a communication issue.
## Opportunities Get Missed Too
The downside isn’t just risk. It’s missed opportunity.
In some cases, the structure of a business creates flexibility that no one is taking advantage of.
Retirement plans are a good example. For companies with a mix of union and non-union employees, or a smaller internal team, there may be opportunities to structure plans in a way that benefits owners and key employees significantly.
But those strategies require coordination.
They don’t come from one advisor working in isolation. They come from multiple advisors working together with a shared understanding of the business.
## The Timing Problem
This becomes even more important when business owners start thinking about exiting.
The ideal scenario is simple. You start planning five years in advance.
You align your advisors. You structure the business correctly. You think through tax implications, deal structure, and long-term goals.
That’s the ideal.
The reality is usually different.
Most owners start that conversation much later, sometimes when a deal is already on the table. At that point, the flexibility is gone. The strategy becomes reactive instead of proactive.
And that almost always means leaving value on the table.
## Even “Set-It-and-Forget-It” Plans Need a Second Look
There are also areas that business owners assume are already handled.
Buy-sell agreements are one of them.
Many companies have them in place. Few revisit them.
Recent changes have shown that how these agreements are structured, especially when life insurance is involved, can have unintended consequences. In some cases, it can increase the valuation of the business for estate tax purposes without the owner realizing it.
That’s not a small oversight.
And it’s not something one advisor catches on their own.
## It’s Not About More Advisors
The solution isn’t adding more people.
It’s getting the right people talking.
When your broker, CPA, attorney, and financial advisor are aligned, decisions improve. Strategies become intentional. Gaps get closed before they turn into problems.
It doesn’t require a complete overhaul. It just requires coordination.
If you want to hear how these conversations play out in real situations, you can watch the full discussion here:
👉 [https://www.youtube.com/watch?v=qg1rCl4qgrc](https://www.youtube.com/watch?v=qg1rCl4qgrc)
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