2015 Trusted Advisers Accountant: Mike Pruett

Mike Pruett knows taxes are never going away. His goal is helping clients plan as best they can.

“Tax laws are in a constant state of change with sunset provisions, changes in interpretations and new legislation,” says Pruett, partner at Elliott Robinson & Co. LLP. “However, with good planning, along with knowing current tax laws, we can help tailor both operational and structural decisions to take advantage of tax-saving opportunities.”

Pruett has worked in public accounting since 1985 and has extensive experience with individual, corporate and partnership taxation for industries including construction, real estate and retail.

“I have many long-term clients, which I have continued to work with over my 30-year career,” he says. “I think that continuity of relationship speaks to their view of me being a highly trusted adviser. Well over 50 percent of new clients are referred from existing clients. The other 50 percent of new client referrals come from other trusted advisers such as attorneys, bankers or investment advisers.”

Pruett’s involvement with clients can take many forms.

“Sometimes it might be more technical in nature, such as navigating the income or estate-tax issue that we may be faced with. Other times, it is being that sounding board for a business owner that is thinking through a strategic plan or change in direction for their business,” Pruett says. “Most of my clients are entrepreneurs. Therefore, they wear many hats along with being fiercely independent and self-sufficient.”

Pruett belives it is his job to open a dialogue that weaves the tax planning, accounting, finance, family transitions or whatever issues are at hand into meeting the clients goals. By understanding their business or family dynamics along with their attitudes, he can help craft the conversation.

Bringing an outside perspective to a client’s business is one of Pruett’s value-added roles.

“When they are immersed in their day-to-day operational duties, they are often aided by a fresh idea on operating processes or minor reorganizing of how they manage their business or seeing weaknesses that need attention that they may be overlooking,” he says. “Having the history and accounting data, along with being able to interpret it, is an invaluable component of that process.”

Pruett is active with the Greene County Estate Planning Council and the National Association of Certified Valuators and Analysts. He also is a past president of the Southwest Chapter of the Missouri Society of Certified Public Accountants.

Pruett is a member and past board member of the Rotary Club of Springfield Southeast, which has honored him with the Lend A Hand Award in recognition of his outstanding service through club committees and day-to-day commitment.