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Pro Spotlight: Naresh Saripadya On His Life, How He Stays In Touch With His Family, And His Career As An Accountant

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Pro Spotlight: Naresh Saripadya On His Life, How He Stays In Touch With His Family, And His Career As An Accountant

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Meet Naresh Saripadya, a seasoned accountant with years of expertise in accounting, taxation, auditing, and consulting. In this Q&A, Naresh shares insights into his journey, from arriving in the United States in 2006 with a bachelor's degree from Mumbai to earning his CPA in 2012 and building a successful career. He discusses his motivations for moving to the U.S., the joy of traveling back to India annually, and the significance of celebrating Diwali with his family. Naresh also delves into his experiences using Taxfyle's platform, highlighting the convenience and flexibility it brings to his profession. Join us for a glimpse into Naresh's life, his passion for accounting, and the impact of Taxfyle on his career.

Q: Hi, Naresh, how are you doing?
Naresh: Thank you, so nice to meet you Christian. So would you like me to go through some brief some background regarding myself, my profile, where I came from what I've done so far after coming here? 

I came in 2006 and I then I started so I came with my bachelor's degrees from Mumbai in India and then I came here in 2000 sites just by myself and then I did my masters here. And then probably 2010 I started earning my CPA and took me like two years, and I finally got my CPA in 2012 and then I started my career with a private accounting firm. It's in Long Island. I worked there for years and then after I got my license to in 2016 and moved on to public accounting opportunity so from 2016 to today, I've been working like a lot of small and mid sized accounting firms. So I like overall today I have like more than 10 to 20 years of experience in accounting, taxation, auditing, and consulting and anything else to the best of my knowledge.

Q: What drew you to the United States?

Naresh: So my uncle and my brother they were already here like 10 years ahead. They came here and when I was back in India, I used to hear a lot of good things about the United States and opportunities you know, all of the benefits and everything, and that's what motivated me to come here. So I decided to settle over here, and what I experienced so far from 2006 is perfect. It turned out to be good.

Q: And you mentioned that you like traveling. Have you had a chance to go back to India and see the family that's there?

Naresh: Yes, I try to go see my parents. They are there in India, and I tried to go like usually once a year. This is a perfect time in November in December when when everything slows down like after the deadlines for the tax. So I usually travel like in November or December of every year. Also in the month of November is one of the biggest festivals, called Diwali and it's like one of the biggest celebrations in India so that's a very best time to meet and greet with all the parents close ones families and everything and that's that's why we usually go every year.

Q: Now I am a little unfamiliar with that festival so do you mind explaining to me what it is that you love about it and some of maybe your favorite memories celebrating Diwali with your family?

Naresh: Diwali is the one of the biggest festivals. It's celebrated across all states in India. It's like a fourth of July. They have fireworks across all the country, all states, during that day and very next day to Diwali, it's called the New Year for us. It's like basically a new year, like the new year here. Every as religion has a new year so we celebrate like in the month of November the day after Diwali and that's like you know, we're like in India people I usually have five days off like all week it's like a Thanksgiving basically in Indian. It's a new year for us. So it's a perfect time for all the families to meet get together, spend time together.

Q: What are some of your fondest memories of celebrating Diwali with your family when you were younger?

Naresh: So when I was back there, and when I used to go in school, usually during Diwali we had three weeks off during this year and during this time be a lot of like you know, different days coming into during the turn. So Diwali like we have five days lined up for celebration when there's Diwali, when there's new year another three days it's I don't know how to pronounce in English.

So these are all the different celebrations. And during Diwali I used to live in Mumbai it's like a big city like New York and during this Diwali festival, we used to travel to our hometown it's like a small village where we used to celebrate all together. That why this is special like you know, we just do the family and after the after the vacation is over everybody's back to their you know, work usual schedule.

Q: And when you're going back to India now what is it like having that chance to see your family again? 

Naresh: My parents are still there. So they are almost retired, so I go see them.  I was born and grew up there so I still have a lot of friends, they’re like college friends, school friends, and I still have a lot of good memories from there. So I usually go to the places you know where I've been in since my childhood so and so that's especially, you know, when I go there I spend time with my parents and then for a few days I try to spend time with friends and everybody and try to refresh my memory and that’s another break, kind of, after every year.

Q: So obviously as an accountant your calendar revolves around tax season and you fit into your windows as much as you can to go and see your family in India is there anywhere else that you've traveled to that you really enjoyed?

Naresh: Most of the time I like to travel like every year I travel to India and once a year I also try I like to travel different places that's new to myself and you know, so I try to go with my family once a year with a vacation like two weeks three weeks something like that. And another travel I like to do, I also do a lot of consulting with clients so you know I'm in the accounting profession so we can work from anytime anywhere remotely and that gives me the opportunity to meet and greet with a different clients and that's how I like it. Just to go from one place to another meet the clients and talk about that understanding the background helped him as much as I can.

Q: When you were in university in Mumbai, what is it about accounting that you felt fit the best for you with how you wanted your professional career to be?

Naresh: When I got to college from school, I always like crunching the numbers you know and that's how I started majoring in accounting. So I did my bachelor's over there and then after that since I came here and do my masters.

Q: So when you moved in 2006 to the United States, you already had your bachelor's degree and then you get your bachelor's degree. What were the next steps that you followed to solidify your professional career and be the accountant that you wanted?

Naresh: Well I have my cousin and one of my friends they were already CPAs here. The way they talk and the way they were knowledgeable doing all different kinds of things they always advised me to while that if you can see down the road after getting your masters if you try to get your CPA then you know you get all kinds of advantages. It's like more prestigious you know and you so that's what they encourage me to do this thing counting on Certified Public Accountant.

Q: You mentioned that you're actually moving to Long Island and that it earlier in before this call it was because of the school districts. What is it about Long Island that you feel is better for your family?

Naresh: Just the bigger house; more spacious. The house is a bit cheaper than New York City plus good school district schools districts are good compared to New York City. A lot of my friends with families, they also moved down here and they always told me to. And the futures for the kids is something you want to see down the road. That’s the best thing that will help by moving down here. 

Q: Now that you've had a few years of experience In the professional accounting landscape what is it that you like about your career so far?

Naresh: Whatever I'm doing so far I'm enjoying it you know it's not something I'm just doing just for the sake of money it's something I'm enjoying with what I'm doing you know. I love talking to the clients, helpingthen giving as much as you know to the best of my ability.

Q: How valuable does it feel to have a career where you're not like you said you're not just doing it for the money you're doing it because you enjoy what it has you completing?

Naresh: So the big thing like it is like you know, it's it gives like more flexibility. You can work from anytime anywhere. Even if I go to India once a year, I stay like two to four weeks and I also have more flexibility to work there. So your paycheck is coming in all the months and we can also travel and we can also meet people as still your work is being continued and that’s what I like most about the profession.

Q: Naresh, how did you first hear about Taxfyle?

Naresh: I think I got an email and then I did some research about Taxfyle: what is this company about what what services they sell and what to do what to do exactly. And then I signed up and I think I spoke to a couple of the guys from your firm and one was Kurk probably and he explained to me what we offer and how can we help each other and what I want and after having the conversation I decided yes it's something you know I can do. And that's how. I gave a copy of my license, my PTIN and everything and they signed me up to your system and then and that created account and that's how we I've been liking my two three years on Taxfyle.

Q: What are the aspects of using Taxfyle’s platform that you appreciate the most?

Naresh: I appreciate the most is like you know I don't have to worry about getting clients. You know everything from when I get an email to when there's new work uploaded on the platform. Everything is uploaded all the documents are uploaded and we just take the information and if there is any problem communicate with the client and I always try to coordinate with the Taxfyle support and they help me out and it helps us. You know and also I noticed about retail job but also outsourcing job it's the one of the most I like it and retail job because you know in the workspace we had like four or five pros and we got most of the jobs doing that and also the payout is also good compared to that and the returns are prepared on the firm’s side.

Q: Now that you've had a few years using tax filings platform, what are some of the aspects that you feel being a pro helps you out the most with your career?

Naresh: Down the road I think every year my profile gets stronger and I think I get more opportunities in terms of getting more and more work every year compared to what I used to get like a first and second year. And the work I'm doing on the Taxfyle is on a side basis and I also work with clients and everything yeah I have to but this helped me with the consistent work throughout the year with consistent cash flow too. So it works out perfect.

Q: And with your career as an accountant, how do you balance that with also being a Pro?

Naresh: Like I said you know in this profession we work as a contractor and we work from any anytime, anywhere, at all times as long as we match with the deadline, we catch up with the deadline of filings and it helps me to balance my family my work everything.

Q: Have you ever had an instance where because of your help, you've made a customers or clients tax situation significantly better?

Naresh: Of course, sure, that's, that's our profession, you know. So I have a lot of cases and a lot of stories of people. Usually, when, whenever any businessman does a business, they all usually focus on their business but after a year, a couple of years, then when they don't file and they start getting notices from the federal, state and local, that time, they realized with interest and penalties and 75% of the time the customer comes to us only after they get notices. So once they get the notices, we prepare the strategy, we try to clean the mess from the from the previous year and then we try to bring them onboard and then we quote them the potential service they’re expecting from us and how we can help them to the best of our knowledge and then we sign a contract or whatever we needed.

And then that's how we help them and also we do a tax planning strategy. You know, make sure whenever they transact anything with the business make sure they they think about the tax and that's how they should be exactly so a lot of time you know, when they are about to do the big transaction they usually call us saying that okay, I have to pay this amount and they ask for the best way you know, which can save more money and then we help them then you try to advise them to the best of our knowledge.

Q: You mentioned something that I thought was really interesting it's that it's how much time is demanded by business to be able to manage it and taxes I think we all know are not easy to comprehend if they were easy that we wouldn't need people like you to help us with them how important is it that businesses use tax professionals like yourself to be able to file their taxes and not have to worry about that part of running their business?

Q: When any businesses start their business, they don't think about using accountants but down the road when the business grows and they need a lot of support and that time you know the all the all the papers are flying everywhere and they need to learn that when they come and seek help from us and we understand the process, what they need, and what they're looking for and then the we prepare a strategy or tax planning down the road and then prepare the proposal and that's how we keep them more informed.

Q: Do you ever have cases where a business thought that they can handle taxes on their own it wasn't a big deal and then when you stepped in you had to make a lot of changes?

Naresh: Every client is different when there is a small business people usually want to do their own because they don't want to pay the accountant but and you know I've seen that that also is not smart businessman. A lot of times they don't do taxes and they don’t do their own accounting and so but sometimes you know people just focus on the business they're doing. They don’t forecast anything regarding tax or accounting and they come up with a bunch of papers and hand it to us. So there are different people but I’ve seen a lot of people like with a small business unit they try to do first themselves and once they think they don't have enough time or there is getting bigger mess they usually find a professional like us and try to seek more help so we can support to the best of our knowledge to the business.

Q: How can CPAs who are not on Taxfyle’s platform benefit from it the way that you have?

Naresh: So if you take for example, myself. I am I'm not a very big I have a couple employees here and nine one very big person so the CPA firms like with the larger form, they usually get the direct line and because of the reputation of the firms for the CPAs like me apart from everything we have a lot of we get a lot of references from all other like other businesses or maybe like Taxfyle I have also signed up it ended a couple of programs. So we keep getting references with all this and that's how we get a business and we'll stay on.

Q: And for your personal financial goals how has Taxfyle’s platform helped you?

Naresh: Any time when you do some additional work there's always some additional money that you make. So with Taxfyle the support I like is when I get an outsourcing job that’s big. So that's consistent.

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published

January 1, 2024

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