In our episodes #54, #55 & #56 of the CPA Career Paths podcast, I had the pleasure of speaking with Matthew Markoff, CPA, managing partner of Markoff & Malatesta CPAs, PLLC. Matthew’s journey from dreaming of paleontology to redefining accounting practices is filled with lessons about perseverance, strategy, and creating meaningful workplace environments.
From Paleontology to Accounting: A Career Pivot
Matthew’s path to accounting was influenced by his father, who advised him to prioritize financial security and practicality. Initially pursuing chemical engineering, Matthew transferred to Fairleigh Dickinson University after realizing city life wasn’t for him. An inspiring professor and a love for structured problem-solving eventually led him to accounting.
“We learn more from failures than successes. Keep your eyes open and find what you enjoy.”
This shift highlights the importance of adaptability and being open to change—a recurring theme in Matthew’s life and career.
Tax Strategy Over Preparation
Matthew differentiates himself as a tax strategist, not just a preparer. Unlike traditional firms that churn out returns, his firm focuses on proactive client engagement and tailored strategies.
“We’ve recovered over $1.7 million for our clients by amending their returns. It’s not just about getting the numbers right; it’s about finding opportunities.”
His approach involves:
- Asking detailed, targeted questions to uncover overlooked deductions or tax positions.
- Prioritizing long-term value over quick fixes.
- Extending all client deadlines upfront to reduce stress.
This philosophy underscores the value of foresight and building client trust.
Avoiding Burnout: A Fresh Perspective
Matthew’s firm operates differently to combat burnout, a prevalent issue in accounting. They’ve implemented policies to support both employees and clients:
- Flexible Work Hours: Staff work Monday-Thursday, 10 AM to 4 PM, with Fridays as optional standby days.
- Unlimited PTO: Truly unlimited and encouraged to ensure employees recharge.
- Workload Balance: Clients must engage in year-end tax planning, spreading work evenly throughout the year.
“Burnout and toxic environments go hand in hand. When you prevent one, you eliminate the other.”
Matthew’s approach challenges the traditional “tax season” mentality and fosters a healthier, more productive work culture.
Life-Work Balance: A Reimagined Phrase
A standout moment was Matthew’s emphasis on “life-work balance” instead of the cliché “work-life balance.”
“We work to live, not the other way around. Life comes first.”
This perspective drives his firm’s culture and decision-making. Employees’ personal lives are respected, and their mental health prioritized, creating a supportive and sustainable environment.
Building a Positive Workplace
One of Matthew’s core beliefs is that positivity and trust are the foundations of a successful team. His hiring process focuses on two traits:
- Intelligence: Beyond book smarts, the ability to learn, adapt, and think critically.
- Positive Attitude: Team-oriented and proactive energy.
“When you empower and trust your employees, they naturally innovate and perform better.”
Matthew’s goal is for every employee to be on a partner track, encouraging long-term growth and shared success.
Networking: Leveraging Connections
Matthew stressed the importance of building and nurturing professional networks. Beyond career advancement, a strong network provides invaluable resources for problem-solving and collaboration.
“Your network is your lifeline. It’s not just who you know but how you support them.”
He shared anecdotes of using his network to solve personal and professional challenges, such as finding an emergency plumber and helping employees with medical needs. These stories underscore the mutual benefits of genuine connections.
Memorable Anecdotes
The podcast wasn’t all business. Matthew shared a humorous story about a wooden carving behind him during the interview. The piece was made by an artisan in Jamaica during his parents’ honeymoon in exchange for two beers.
“It’s a reminder that creativity and craftsmanship can thrive in unexpected places.”
This lighthearted moment reinforced the value of finding joy and meaning in both work and life.
Closing Advice for Aspiring Accountants
Matthew’s advice for young professionals is simple yet profound:
- Stay Curious: Always be willing to learn and adapt.
- Build Relationships: Networking is essential for growth and resilience.
- Find Joy in the Process: Focus on the aspects of your job that energize you.
“Don’t work yourself to death; work yourself to life.”
Matthew Markoff’s innovative approach to accounting and firm culture is a breath of fresh air in the profession. By prioritizing strategy, life-work balance, and genuine connections, he’s built a model for success that others can aspire to emulate.
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