Our Spotlight series highlights the careers and lives of tax professionals across the globe. This week’s Spotlight is on CPA Eric Pierre, the CEO and owner of Pierre Accounting, with offices in Austin, San Diego, and Los Angeles. Pierre co-hosts a regular podcast called “CPA Huddle.” The sports metaphor isn’t an accident: An avid Jordan sneaker collector before making accounting his goal, Pierre was a professional basketball player.
What’s your official title, and what does it mean? My official title is CEO and owner. That means that I’m responsible for everything that happens in my firm—including making sure my team is paid on time.
Tax is a huge subject. What’s your area of special interest? Right now, I’ve been focused on the Employee Retention Credit, as well as tax mitigation for high-net-worth individuals and accomplished families. We’ve seen those two areas be life changers for our clients’ financial legacies.
What’s the last movie or show that you watched and loved (DVD, Netflix, or in the theater)? I watched “F9" (Fast and Furious 9) at the theater in person on July 4th weekend. It was great to experience a theater setting again since the pandemic.
Go to pick-me-up: Coffee or tea? Neither, my parents didn’t raise me to drink that stuff. My pick-me-up is Celsius Cola or Celsius Orange, to be honest.
What’s the best tax or financial advice that anyone ever gave you? You can’t take this money with you when you die, as I’ve never seen a Brink’s Truck or a U-Haul at a funeral, so make sure you leave something behind for your family and loved ones, but also take some time to enjoy your money since you only have one life.
If you weren’t working in the tax profession, what would your dream job be? I would have a job as an NBA announcer or analyst and hopefully get endorsed by Nike, GOAT, and/or Stock X.
If you had the opportunity to make one change in the tax code—an extra credit, a disallowed deduction, whatever—what would it be? The IRS should remove the requirement that companies can’t count Paycheck Protection Program wages towards the Employee Retention Credit. So many small businesses are still hurting, and even though things are opening up, their labor and operating costs are going up due to labor and supply chain shortages and disruptions. It’s easier for bigger companies to absorb that, but the smaller companies have to fight that much harder. I’d like to see them give a one-time special blessing, since it looks like this pandemic and the skyrocketing costs aren’t going to stop for the next year or so.
Favorite food, snack, or candy during tax season (or other busy time)? I’m a sucker for those peanut M&Ms.
What tax news or move made the most impact on your practice or clients this past year? The Employee Retention Credit has made the most significant impact. Very few businesses and fellow CPAs and tax professionals actually understand the tax-free impact. We do, which has allowed us to grow as a firm and strengthen relationships with our current clients and new clients. Also, our engagements with the credit have opened the door for my diverse team to provide other advisory services, so we’re very thankful for this once-in-a-lifetime opportunity.
If Uncle Sam handed you a big tax refund check right now, what would you do with it? I’d give some of it away to my church and missionary friends, then acquire real estate, and look at upgrading my car. And if any is left over, I’d pick up some Dior Jordan and Travis Scott Air Jordan 1 Lows (sneakers).
You can find out more about his company on its website.
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