Keep an eye on this up-and-coming accounting firm
It's quite an inspiration to enter the modern and spacious offices of Piascik & Associates and realize that it was built on one man's dream. That man would be president and founder Steve Piascik, who left as a senior tax manager at a Big Four accounting firm and started his own company in September 2001.
At the time, Piascik had a lot of relationships but no clients.
"My previous firm wanted me to move and set up an office in another city," Piascik said. "I didn't want to leave Henrico County. But when I went on my own, I didn't have a book of business. Most people who break from a Big Four firm usually have a nice revenue stream to start with."
Piascik aggressively marketed his firm and waited patiently for five months. When tax season hit, he was flooded with complex tax clients.
"I was working 100 hours a week," he said.
Piascik & Associates, located in Innsbrook, now offers financial guidance to 600 clients nationally and on a conservative scale, has increased revenues by 45 percent each year. Piascik said his firm is meeting its goal of $1.5 million in new business every year.
"There are two pillars we offer that are different from any other firm," Piascik said. "We give flat fees on everything we do and one hour of every day, our client can call and speak with any of us without the fear of being billed. These two things, flat fees and routine tax consulting have really jetted the firm out."
Piascik & Associates specializes in international tax and real estate tax issues as well as solving tax problems related to medical practices and professional athletes.
Piascik won't reveal which athletes he represents, but they number in the dozens. He did admit they play in the National Football League, Major League Baseball and the National Basketball Association.
"We have helped many of them save a lot of money," Piascik said. "We've also developed great relationships with many professional athletes."
Ryan Losi, executive vice president & director of business development, said that half the staff works and lives in Henrico County. He credits the firm's Innsbrook location as one major catalyst for its success.
"Location. Convenience. We're close to everything," Losi said. "Innsbrook has so much to offer. We realize this, not every week or every month, but every day. Everything is right here. It's just perfect."
Losi added that around 40 percent of the firm's clients have offices in Henrico and it's important that he and staff members give back to the community.
"Steve and I give a lot of our time to various boards or trade associations," Losi said. "We're also very active with helping Henrico County attract new businesses."
Piascik & Associates established a "Passport Program" that allows businesses from all over the world to rent space in the firm's office. It also gives these clients access to Piascik's expert accounting and administrative staff.
"Literally, all they have to do is plug in their computer and go," Piascik said. "We provide them with telephones, Internet access and a fully furnished office.
"This has been so successful that we have one office space remaining. We're not trying to make it a line of business. We're trying to make it an accelerator for business. Cover our costs and be a client and you have all of this available to you."
Losi added that the program allows parent companies to venture into Henrico County and not have to deal with many different entities to establish a presence.
"We can handle their financial accounting, their taxes and we have accountants fluent in a total of seven languages. We can report to parent companies and they don't have to worry about getting translators, accountants and office space. They deal with one firm that can help them get set up over here."
But perhaps the best amenity is one that is expressed to Piascik almost daily.
"Our clients tell me they like having their financial adviser down the hall," Piascik said.
