Spotlight on Tax Strategist and Managing Principal Mike Prinzo

Our Spotlight series highlights the careers and lives of tax professionals around the world. This week’s Spotlight is on Mike Prinzo, managing principal of tax at CliftonLarsonAllen and a member of its tax strategic leadership team in Denver.

Prinzo has more than 22 years of experience as a business adviser and tax consultant to entrepreneurs. He helps high-net-worth individuals and businesses manage income, gift, and estate taxes. He served as the office tax leader for CLA’s Albuquerque office until relocating to Denver in 2015.

When he’s not helping clients, Prinzo loves to travel, go camping and boating, and cheer on his kids at their sporting events.

What’s your official title and what does it mean? My title is managing principal—tax. I serve on CLA’s tax strategic leadership team and I lead the team focused on serving individual clients by providing tax, wealth advisory, and other services.

Free time: book, audiobook, or podcast? I love to read and usually will choose a book over audiobooks or podcasts. A recent book I read was “The Spy and the Traitor” by Ben Macintyre, a fascinating true story about a Soviet KGB agent who defected to MI6 during the Cold War after serving as a double agent for many years. A few other books I’ve recently enjoyed were “The Obstacle is the Way” by Ryan Holiday, “Extreme Ownership” by Jocko Willink and Leif Babin, “Turning the Flywheel” by Jim Collins, “Resilient” by John Eldredge, and “Grace” by Max Lucado.

Tax is a huge subject. What’s your area of special interest? I love to help people by working with our tax and wealth advisory teams to plan for the future and create opportunities for themselves, their families, and philanthropic causes that are important to them. Our teams accomplish this by living out the CLA promise: to know you and help you.

What’s the last movie or show that you watched and loved (DVD, Netflix, or in the theater)? I recently rewatched “Top Gun: Maverick.” I saw it in the theaters when it came out, but I really enjoyed it and watched it at home again.

What college did you attend and what did you study? I attended the University of New Mexico in Albuquerque for my bachelor’s degree and MBA. I completed a BBA in accounting and completed my MBA with a concentration in tax accounting.

Go-to pick-me-up: Coffee or tea? Definitely coffee, but I am trying to drink green tea more often, as it is a healthier option.

What’s the best tax or financial advice that anyone ever gave you? The best advice I received was from watching my parents who were great role models for living below their means, saving for the future, and being generous in giving to others. One specific lesson they taught me was to develop a savings habit when I first started working. Many studies show when individuals start saving in their 20s, they have a tremendous advantage to accumulate retirement savings versus those that wait until their 30s or later.

If you weren’t working in the tax profession, what would your dream job be? I would love to be a fighter pilot, which is probably why I enjoyed “Top Gun” so much!

If you had the opportunity to make one change in the tax world—an extra credit, a disallowed deduction, whatever—what would it be? I would change the tax law to allow for a lifetime exemption from income tax for the surviving spouse of a military service member who gave their life serving our country. Our Gold Star families sacrifice so much for our freedom that I think we could do more to honor them and their loved ones.

Favorite food, snack, or candy during tax season or other busy time? An apple when I am around others and peanut M&Ms when no one is watching.

What tax news or move made the most impact on your practice or clients this past year? For the clients I work with, the rise of interest rates has had a significant impact on their businesses. Inflation has a direct effect on so many areas that impact investors and taxpayers, including investment returns, prices of goods and services, employment, and income and estate tax strategies. Inflation is often described as a stealth tax and can impact consumer spending over time.

If you received a big tax refund check right now, what would you do with it? I would invest it! But if I had to spend it, I would use it to go on a family vacation to enjoy some warm weather on a beach!

You can find out more about Prinzo on Linkedin and through his firm.

You can learn more about CLA on its website.

If you’d like to recommend a tax pro to be featured, send your suggestion to rbaker@bloombergindustry.com with the subject: Spotlight. Please include the following information: tax professional’s name, title, email address, and geographic area (city/state/country).