Building a Family Firm, Tax Planning, and Process Best Practices w/ Samantha Santaniello

Podcast

Summary

Today’s episode features Samantha Santaniello, partner at R.S.K Tax & Consulting. Samantha discusses the importance of setting boundaries to manage time effectively as a business owner. 

Host David Cristello explores topics like systems and processes for scaling a firm, balancing work and family life, and utilizing AI transcription tools. Tune in to gain insights on optimizing workflow and achieving work-life balance in the accounting industry.

What you’ll learn

The listener will learn about setting boundaries, systems and processes for scaling a firm, managing personal routines and juggling multiple responsibilities as a business owner and parent. They will also hear about the services provided by R.S.K Tax & Consulting, focusing on small business owners and real estate investors. 

The importance of tax planning and strategy for small business owners, real estate investors, and individuals will also be discussed, along with insights into building a successful business with a sibling and managing personal systems effectively.

Additionally, the benefits of having a morning routine, utilizing an administrative assistant, and implementing tools like Jetpack Workflow for organization and task management will be highlighted. 

The episode will also cover the significance of building a great team, incorporating ideas from others, and utilizing digital assistants in virtual meetings.

Guest Bio

Samantha Santaniello is a distinguished partner at R.S.K Tax & Consulting, a thriving firm based in New York that specializes in serving small business owners and real estate investors in the tri-state area of Connecticut, New Jersey, and New York. 

With years of experience in the industry, Samantha, alongside her sister, founded R.S.K Tax & Consulting with a focus on tax planning and strategy rather than just tax preparation. Their unique approach of being tax strategists has set them apart in the industry, allowing them to provide comprehensive support to their clients throughout the year.

Samantha’s career journey began in the corporate world, where she worked at one of the big four firms before transitioning to private not-for-profit organizations. However, it was in the realm of entrepreneurship that Samantha found her true passion and purpose. 

As a partner at R.S.K Tax & Consulting, Samantha’s dedication to helping clients achieve their financial goals and navigate the complexities of tax planning has been instrumental in the firm’s success.

One of Samantha’s key philosophies is the importance of setting boundaries and prioritizing self-care, especially as a business owner with a family. She emphasizes the significance of establishing routines and systems to manage the various roles she juggles, from being a business owner to a parent and partner. 

Samantha’s commitment to personal growth and development is evident in her disciplined morning routine, which includes waking up at 4 a.m. to plan her day, work out, and set the tone for success.

In her role at R.S.K Tax & Consulting, Samantha has been a driving force behind the firm’s growth and success. She is a firm believer in the power of teamwork and values the contributions of her team members, recognizing that a cohesive and supportive team is essential for achieving business goals. Her approach to hiring and team management is centered around fostering a collaborative and results-driven environment where team members feel valued and empowered to contribute their ideas and feedback.

Samantha’s commitment to continuous improvement and innovation is exemplified in her adoption of technology tools like Jetpack Workflow and AI transcription tools to streamline processes and enhance client service. By leveraging these tools, Samantha has been able to optimize the firm’s operations, improve client communication, and stay ahead of industry trends.

Beyond her professional accomplishments, Samantha is also dedicated to sharing her knowledge and expertise with others. Through her active presence on social media platforms like Instagram, she educates her followers on tax planning strategies and financial literacy, contributing to the broader conversation around financial empowerment.

Detailed Synopsis

Setting boundaries and delegating tasks to an administrative assistant can significantly help business owners manage their time effectively. 

In this podcast episode, Samantha Santaniello, a partner at R.S.K Tax & Consulting, shared her experience of how having an administrative assistant transformed her time management and productivity.

Samantha highlighted that her administrative assistant plays a crucial role in setting boundaries for her, particularly in scheduling meetings with clients. 

By having the assistant manage her calendar and email, Samantha no longer needs to worry about overcommitting or struggling to find time for her family. This delegation of tasks allows her to focus on high-priority activities and ensures that her schedule is optimized for maximum efficiency.

Moreover, the administrative assistant assists Samantha with various tasks, such as booking trips, onboarding new clients, and handling client communication. By offloading these responsibilities to the assistant, Samantha can free up valuable time to concentrate on strategic aspects of her business, such as tax planning and business growth.

Additionally, Samantha emphasized the importance of having a proactive administrative assistant who can anticipate needs and take initiative. This proactive approach not only streamlines processes but also enhances overall productivity within the firm. The assistant’s ability to manage tasks efficiently and communicate effectively with the team contributes to a more organized and cohesive work environment.

Overall, Samantha’s experience underscores the significance of setting boundaries and delegating tasks to an administrative assistant in effectively managing time as a business owner. 

By entrusting certain responsibilities to a capable assistant, business owners can focus on core business activities, improve productivity, and achieve a better work-life balance.

Implementing systems and processes, such as using tools like Jetpack Workflow, can streamline operations and improve client service. 

She also highlighted the importance of systems and processes in scaling a firm while maintaining high-quality client service.

Samantha mentioned that when she first started her business, they were using Excel to manage everything. However, as the number of clients grew, it became challenging to handle everything efficiently. This led her to explore tools like Jetpack Workflow, which significantly improved their operations.

One key feature Samantha highlighted was the use of labels in Jetpack Workflow. These labels allowed her team to be proactive with clients, especially in following up on missing information. 

By running reports on missing information weekly and assigning team members to follow up, they were able to ensure that clients provided the necessary information promptly. This proactive approach not only improved efficiency but also enhanced client satisfaction.

Additionally, Samantha discussed how Jetpack Workflow’s communication and note section facilitated better collaboration within the team. 

The ability to communicate effectively and track progress on client work ensured that everyone was on the same page and could seamlessly transition tasks if needed. This level of transparency and communication is crucial for maintaining high standards of service delivery.

Moreover, Samantha also mentioned the use of AI transcription tools during client meetings. These tools automatically generate summaries of meetings, allowing her to focus on the client’s needs and goals rather than taking notes. 

This not only saves time but also ensures that important details are captured accurately, leading to better client understanding and service.

Overall, the implementation of systems and processes, including tools like Jetpack Workflow and AI transcription tools, has been instrumental in streamlining operations at R.S.K Tax & Consulting. By leveraging these tools effectively, Samantha and her team have been able to enhance efficiency, improve client service, and ultimately drive the growth of their firm.

Having a Proactive Team for Continuous Improvement and Growth

In the podcast episode, Samantha Santaniello from R.S.K Tax & Consulting emphasized the importance of having a proactive team that contributes ideas and feedback. 

She highlighted that a team is essential for growth and that without them, she would not be where she is today. Here are some key points from the episode that support the idea that having a proactive team can lead to continuous improvement and growth within the firm:

1. Team Contribution : Samantha mentioned that her team members want to feel like they are part of something bigger and are results-driven. This indicates that team members are motivated to contribute to the firm’s success and growth.
2. Open Communication : Samantha holds quarterly meetings with her team to discuss what can be done better and how they can improve processes. This open communication allows team members to share their ideas and feedback, leading to a collaborative approach to problem-solving and innovation.
3. Learning from Team Members : Samantha mentioned that she hires people who know more than she does in specific subjects because she wants to learn from them. This approach not only fosters a culture of continuous learning within the firm but also encourages team members to share their expertise and contribute to the firm’s growth.
4. Cultural Fit : Samantha highlighted the importance of the team vibe and mentioned that they all get along well. This positive team dynamic fosters a supportive environment where team members feel comfortable sharing their ideas and feedback, leading to a more collaborative and innovative work culture.
5. Feedback Loop : By soliciting feedback from team members on a regular basis, Samantha ensures that everyone has a voice in the firm’s decision-making processes. This feedback loop allows for continuous improvement and helps identify areas where the firm can grow and evolve.

In conclusion, having a proactive team that contributes ideas and feedback is crucial for continuous improvement and growth within a firm. 

By fostering open communication, encouraging learning from team members, promoting a positive team culture, and maintaining a feedback loop, firms can create an environment where innovation thrives, leading to sustained growth and success.

Timestamps

[00:01:57] Real estate investors and tax planning.

[00:03:29] Building a business with a sibling.

[00:07:14] Balancing work and motherhood.

[00:10:48] Labels for proactive client management.

[00:15:31] What makes a great hire.

[00:19:12] Automating client meeting notes.

[00:21:47] Instagram for finance advice.