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Tax & AccountingAugust 27, 2024

Case study: Simplifying BOI compliance with CCH Axcess™ Beneficial Ownership

By: Aimee Hall

KMA Management LLC, headquartered in Madison, Wisconsin, is a forward-thinking accounting firm dedicated to providing exceptional client service. Under the leadership of Jason Kadow, the firm has embraced Beneficial Ownership Information (BOI) reporting as a strategic service offering.

The decision to offer BOI services 

Jason and his team recognized BOI reporting as a potential revenue source and a way to differentiate their firm from competitors. They anticipated that many accounting firms might not offer this service, creating an opportunity for KMA Management to step in and provide comprehensive support to their clients. “We felt that, in order to provide the best client service that we could, this is something we should do for our clients,” he explained.

We truly fell in love with it, day one. It was better than any other solution out there.

Jason Kadow, KMA Management, LLC

Choosing CCH Axcess Beneficial Ownership 

KMA Management’s decision to use CCH Axcess Beneficial Ownership was driven by their positive experiences with other CCH products. After a demo of the software, the team was impressed by its capabilities. “We truly fell in love with it, day one. It was better than any other solution out there,” Jason noted.

Streamlined BOI process 

KMA Management has developed an efficient BOI reporting process. They regularly communicate with clients via email, informing them about the firm’s ability to handle BOI filings. Once a client expresses interest, the firm provides a list of required documents and an engagement letter to ensure clarity on the services provided.

A dedicated team of three staff members manages the BOI process. They gather necessary documents, work through the filing using CCH Axcess software, and address any issues with the client. The filings are prepared by two team members, reviewed by a third, and then submitted. Clients are promptly notified upon completion, and an invoice is sent. “It’s a pretty simple process,” Jason remarked.

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User-friendly software

Jason emphasized the user-friendliness of CCH Axcess Beneficial Ownership, highlighting its accessibility even for less experienced staff. “We have two very young, I’m going to call it inexperienced [staff], an intern and a high schooler that are using the product and can navigate and use it efficiently and effectively,” he shared. This ease of use has been a significant factor in the firm’s successful implementation of BOI services.

Navigating the future with confidence

KMA Management LLC’s proactive approach to BOI reporting, supported by CCH Axcess Beneficial Ownership, has not only enhanced their service offerings but also strengthened client relationships. Jason Kadow’s experience underscores the importance of adopting user-friendly, efficient software solutions to meet evolving compliance requirements and drive firm growth.

Aimee Hall
Product Marketing Manager, Tax

Aimee Hall is a product marketing manager for Wolters Kluwer Tax and Accounting US, focusing on the professional market. In this role, she is responsible for leading the marketing strategy for tax software products including CCH Axcess Tax, CCH ProSystem fx Tax and ATX Tax. She joined Wolters Kluwer in 2006 and lives in the Chicago suburbs.

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