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​Inspiring thoughts from
Your team at Elevated

​Elevated Advisory & Accounting: 10 Years of Disrupting Financial Expectations

1/29/2025

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By Erin Shubel, EAA Chief of Staff
In the heart of Montana, a quiet revolution has been brewing. Not with loud proclamations or Silicon Valley fanfare, but through the strategic brilliance of one woman who saw beyond spreadsheets to the dreams hiding between the numbers.

The Architect of Possibility

Sarah Gould didn't just start an accounting firm. She reimagined what financial partnership could mean for entrepreneurs across the Northwest. With two decades of financial expertise etched into her professional DNA, Sarah understood something most accountants miss: numbers tell stories, and those stories can be rewritten.

It was a typical morning in 2014 – coffee brewing, possibilities brewing even stronger. While other financial professionals were content with traditional number-crunching, Sarah was plotting a different course. Her lightbulb moment wasn't about creating another accounting firm. It was about empowering local entrepreneurs to chase dreams that seemed just beyond reach.

Elevated Advisory & Accounting emerged not as a traditional service, but as a strategic partner. Each client became more than a set of financial statements – they became a potential success story waiting to be authored.
The firm's evolution speaks volumes:
  • 2014: A bold idea takes root
  • 2016: Outgrowing the original concept, expanding service offerings
  • 2018: A strategic rebrand signaling comprehensive advisory capabilities
  • 2025: Celebration of our 10 year milestone

What separates Sarah's approach is her holistic vision. Financial management isn't about recording history – it's about creating future possibilities. Her team doesn't just balance books; they:
  • Decode complex financial landscapes
  • Identify hidden growth opportunities
  • Transform data into actionable strategies

Sarah's vision extends far beyond profit margins. Each client engagement represents an opportunity to strengthen local economic ecosystems, support emerging entrepreneurs, and fuel community growth. As we stand at this remarkable milestone, our hearts are full of anticipation. The next ten years aren't just about financial strategies – they're about the stories we'll help write, the businesses we'll help transform, and the community we'll continue to elevate.

We see a future where:
  • Technology becomes a seamless partner in business growth
  • Personalized financial strategies unlock unprecedented potential
  • Local entrepreneurs don't just survive, but spectacularly thrive

Our commitment runs deeper than services. It's about legacy. It's about watching a small business idea bloom into a community cornerstone. It's about being the quiet force behind extraordinary achievements.

10 YEARS.
COUNTLESS DREAMS.
INFINITE POTENTIAL.


This isn't just an anniversary. It's a declaration. A promise that we'll continue to stand beside entrepreneurs, turning their boldest visions into reality.

VISION
Our vision at Elevated Advisory & Accounting is to redefine the standard of financial partnership by being the most trusted, people-centric firm that empowers clients. We envision a future where businesses thrive through personalized, high-quality strategies and exceptional service, elevating every client to unprecedented heights of success and fulfillment.

MISSION
We Empower Clients to Rise Higher.

Join us in celebrating 10 transformative years. Here's to the next decade of possibilities.

Here's to rising higher, together.


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"Excellence Is A Choice" Artisan Roofing

11/6/2024

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By Erin Shubel, EAA Chief of Staff with insights & contributions from Nathan Graaff, CEO of Artisan Roofing
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Sometimes success stories aren't just about achievement - they're about destiny, vision, and the magnetic pull that brings the right people together at exactly the right moment. This is the story of Artisan Roofing, where excellence isn't just a tagline - it's a way of life.
Nathan Graaff began having dreams and visions from a young age - not always crystal-clear, but  images of three offices that would redefine roofing construction industry standards. He started assisting his dad with their family roofing business at 6 years old with jobsite clean up, and his dreams of leading a roofing empire began at the age of 12. By 2018, Artisan Roofing was born, but what unfolded next reads like a masterclass in divine timing and purposeful leadership.

At the heart of Artisan's success is a leadership trio that seems orchestrated by fate itself. Nathan, the founding visionary, sees beyond the horizon to possibilities others might miss. From Pennsylvania came Anthony, discovered through Indeed, who would become the company's anchor, grounding bold dreams in solid execution. And then there's Corey, whose journey began in Oklahoma, then Fresh Life Church intern, to becoming the Artisan's lifeblood is nothing short of remarkable. Through a connection at Fresh Life Church and a natural friendship that bloomed, Corey became the vital force that bridges vision and reality, completing a leadership triangle that embodies the perfect balance of dream, structure, and momentum.
Their achievements speak volumes. In an industry where excellence is often claimed but rarely proven, Artisan stands apart. They're apart of an elite group of contractors holding both Owens Corning Platinum Preferred status (achieved by less than 1% of contractors that can provide a 25 year workmanship warranty) and the prestigious Carlisle Commercial Roofing Certification - isn't just a guarantee; it's a statement of confidence.

"You don't rise to the level of your goals, you fall to the level of your systems," is a quote from the book "Atomic Habits" that resonates through every aspect of their operation. As true market disruptors, they're revolutionizing commercial roofing practices, particularly in crucial areas like vapor barrier installation where many competitors fall short. Their process involves a dedicated team of Carlisle engineers who build custom assembly lists, and each completed Carlisle warrantied project is inspected by a Carlisle Inspector to ensure every project meets their exacting standards.

What makes this particularly exciting is how their success opens doors for our entire community. Artisan's systematic approach to excellence, guided by clear KPIs and high visibility for their roof advisors, has them firmly on track to become a $20 million company within the next three years. Their hopeful expansion into Bozeman and Coeur d'Alene isn't just growth - it will be the fulfillment of that original vision, proof that dreams backed by excellence become reality.

Their tagline, "Excellence is a Choice," carries a profound truth: "When you live a life of excellence, He gives you a life of peace". As Nathan quotes from the Psalms, "His word is a lamp to guide my feet and a light for my path." This faith forward philosophy is transforming them from a local roofing company into a beacon of possibility for every entrepreneur in our network.

"Working Genius" a book by Pat Lencioni has also been a huge incluence on how the Artisan Team culture is lead and understanding that "When a tide comes a harbor all ships rise" (JFK quote). With community growth, Artisan isn't just building a business - they're creating a legacy.

Let's connect you with Nathan, Anthony, Corey, and other visionaries who are redefining what's possible when excellence truly is a choice. Their story isn't just an inspiration - it's a blueprint for what happens when vision meets determination, when the right team comes together, and when excellence becomes not just a goal, but a way of life.
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Connect Me With Artisan!
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Autumn Changes: Preparing for a New Year of Compliance

10/7/2024

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By NJ Joseph, EAA's Fractional Controller
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As the warm rays of summer fade and a crisp breeze ushers in October, it’s clear that fall favorites are making their grand entrance. From pumpkin-spiced everything to creative costumes and haunted houses, the magic of spooky season is undeniably in the air. But amidst the delightful chaos of candy corn and ghostly décor lies another important tradition: the final fiscal quarter. While everyone else is busy with tricks and treats, businesses are sharpening their pencils and preparing for crucial year-end deadlines and 2025 budget plans. This year, don’t forget to factor in the new employment laws that are adding a little extra intrigue to the mix!
 
As many of you know, the U.S. Department of Labor rolled out some big changes starting July 1, 2024 that affect exempt and non-exempt employees. Just to review, an exempt employee is someone who is not subject to the Fair Labor Standards Act’s (FLSA) minimum wage and overtime pay requirements. Exempt employees are usually paid a salary, and their pay is not based on the number of hours they work. The new law raised the annual salary threshold to $43,888 for salaried employees to be exempt from overtime pay, but the real game-changer is just around the corner: beginning January 1, 2025, that threshold will jump to $58,656. Beginning July 1, 2027, these thresholds will be re-evaluated every three years to adjust for inflation.
 
Currently the state of Texas has challenged this law in federal court, but don't hold your breath for any immediate changes before the January 2025 deadline. In the meantime, it’s smart to get ahead of the curve and make sure your company is in compliance. As you prepare your 2025 budget, here are five important things to consider for managing wage-related expenses under the new rules:
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1. Ensure Exempt Employees Meet the Duties Requirements
To be considered exempt from overtime, employees must satisfy three criteria:
  • Salary Basis: To qualify as exempt from overtime, employees must be paid on a salary basis, meaning their pay cannot fluctuate based on the quality or quantity of work performed.
  • Minimum Pay Amount: The salary threshold for exempt employees is currently set at $844 per week ($43,888 annually), and as of January 1, 2025, the minimum will increase to $1,128 per week ($58,656 annually).
  • Duties Test: To be classified as exempt, employees must primarily perform duties associated with executive, administrative, or professional roles. This remains a critical factor in determining exempt status, alongside meeting the salary requirements.
 
2. Compliance for non-exempt and highly compensated employees
Non-exempt employees are entitled to 1.5 times their regular rate for any hours worked over 40 in a workweek (overtime) under the FLSA. Another change that took place July 1, 2024 is the threshold for the highly compensated employee (HCE) exemption, which increased to $132,964. On January 1, 2025, this rate will increase again to $151,164. This too will be adjusted every three years, beginning in 2027, to account for inflation.
 
3. Assess Current Employee Salaries
Now’s the time to evaluate whether reclassifying employees to non-exempt status makes sense for your organization.
 
4. Provide Advance Notice of Salary Changes
Be proactive! Notify employees about any changes to their compensation and any new responsibilities, such as timekeeping and meal and rest breaks.

5. Stay Updated on Legal Changes Currently, only Texas is affected by the ruling blocking the application of this new Department of Labor law. However, it’s wise to stay vigilant for potential changes in other states!
 
At Elevated Advisory & Accounting, we understand the challenges business owners face while juggling operations and employee needs. Our dedicated advisory team is here to support your success with the insights and resources you need to make informed decisions confidently. Contact us today at [email protected] to discover how we can help you thrive in this ever-evolving financial landscape!



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The Finale: Employee vs Subcontractor

8/14/2024

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Part 4: Risks of Misclassification - Consequences for Non-Compliance

by your trusted Business Advisor, Nicky Franks

Introducing Nicky Franks, a seasoned expert in strategic financial management and compliance. With a proven track record managing over half a billion dollars in expenses and leading initiatives in revenue recognition, Nicky brings invaluable insights to our blog series, Elevated Insights. Her client-centric approach, coupled with extensive experience in audits and restructuring, ensures practical advice tailored to enhance business efficiency and compliance. Trust Nicky's expertise to navigate complex financial landscapes and optimize organizational performance.
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In our final installment, we delve into a crucial topic that every business must navigate with care: the risks and consequences of misclassifying workers. Proper classification isn't just about compliance—it's about safeguarding your business from severe penalties and legal entanglements.

Misclassification carries substantial risks that can profoundly impact your business:
  • Financial Penalties: Misclassifying employees as contractors can lead to substantial fines from the IRS and state agencies, including back taxes, interest, and penalties for non-payment of taxes.
  • Legal Repercussions: It opens the door to lawsuits from workers seeking unpaid wages, benefits, and overtime. These legal battles can drain resources and tarnish your company's reputation.
  • Unpaid Benefits: Employees are entitled to benefits such as health insurance and retirement plans. Misclassified workers may retroactively claim these benefits, creating significant financial liabilities.
  • State-Specific Penalties: States like Montana impose additional penalties for misclassification, further burdening businesses with fines and additional tax obligations.
  • Worker Rights: Misclassified workers may miss out on crucial protections like unemployment insurance and workers' compensation, exposing your business to claims and liabilities.

Example: Consider a construction company that misclassifies its full-time workers as independent contractors to avoid providing benefits. The workers file a lawsuit, resulting in a costly court decision against the company, including back taxes, fines, and legal fees totaling hundreds of thousands of dollars.

Implication: Proactively ensuring correct classification from the outset can mitigate the risk of expensive legal battles and financial penalties. Regular audits and consultations with legal experts are invaluable in maintaining compliance.

The stakes of misclassification are high, impacting both the financial stability and reputation of your business. By diligently adhering to classification guidelines and prioritizing fair treatment of workers, businesses can protect themselves from penalties and maintain trust and credibility in the marketplace. 


Series Summary:
Throughout this series, we've explored the critical nuances of worker classification, from financial control and the nature of relationships to the risks of misclassification. Each aspect underscores the importance of compliance and strategic decision-making in fostering a resilient business environment.

Thanks for listening and stay tuned for more Elevated Insights as we continue to unravel essential strategies and insights to empower your business success. Don't miss out on our upcoming content—it's designed to elevate your understanding and optimize your business practices!

We'll chat soon! 

Best, 
​Nicky
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The Saga Employee vs Subcontractor continues...

7/31/2024

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Part 3: Relationship of the Parties - Defining Work Relationships

a little bit about Nicky, our Business Advisor & your author

Introducing Nicky Franks, a seasoned expert in strategic financial management and compliance. With a proven track record managing over half a billion dollars in expenses and leading initiatives in revenue recognition, Nicky brings invaluable insights to our blog series, Elevated Insights. Her client-centric approach, coupled with extensive experience in audits and restructuring, ensures practical advice tailored to enhance business efficiency and compliance. Trust Nicky's expertise to navigate complex financial landscapes and optimize organizational performance.
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Welcome back! In our last discussion, we explored the crucial element of Financial Control in distinguishing between employees and independent contractors. Today, we delve deeper into the Relationship of the Parties—another cornerstone in the classification puzzle.

This criterion scrutinizes the dynamics and formal agreements between the worker and the company. Here’s what matters to both the IRS and Montana Department of Labor & Industry:
  • Written Contracts: Is there a clear contract outlining the nature of the relationship? Clearly defining whether the worker is a contractor or employee is crucial.
  • Benefits: Does the worker receive benefits such as insurance, pension plans, or paid time off? Typically, employees enjoy these perks, while contractors do not.
  • Permanency: Is the relationship ongoing or tied to specific projects? Long-term arrangements lean towards employee status, whereas project-based work suggests contractor status.
  • Integral Services: Does the worker perform tasks essential to the company’s core operations? Employees often handle key functions, whereas contractors typically offer specialized services.
  • ICEC in Montana: Holding an Independent Contractor Exemption Certificate (ICEC) in Montana signifies contractor status.

Example: Imagine a marketing consultant hired for a six-month project without receiving company benefits—they likely fall under contractor classification. Conversely, an in-house marketing specialist with benefits and no defined end date likely qualifies as an employee.

Implication: Clarity in contracts and understanding the nature of work relationships is crucial for compliance. Misclassification can trigger audits and penalties.

Understanding the nuanced dynamics of the worker-company relationship is pivotal in classification. By establishing clear agreements and grasping the essence of work dynamics, businesses ensure alignment with IRS and Montana state guidelines.

Stay tuned as we continue to uncover more insights into optimizing your business practices! For the finale, we will cover the risks associated with misclassification. Until then!

Warm regards,
​Nicky
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