At a Glance
Client: Crawford Steel
Industry: Regional Steel Distribution Company
Location: South-West Chicago
President: David Isaacs
Services: Tax planning for business, owners and other family members, accounting and financial statement services, business consulting services
ROI: Entity restructuring and accounting method changes for tax benefits, guidance for transition to a new 401(k) plan provider, ongoing succession planning discussions, growth and expansion strategic planning
While backpacking in Honduras years ago, David Isaacs noticed a gumball machine at a local bar. He realized that his family’s company distributed the steel to make it.
This story reminds David that Crawford Steel has global impact. Still, it’s a local, family business at heart, and that’s why he appreciates the personal approach at KRD.
“I like that they understand our business because they have been coming to our plant for decades to see our operations and have that face-to-face contact. But they still provide all the benefits of a firm with national and global reach,” David said.
He believes that KRD attracts professionals who build longstanding trust. At Crawford Steel, the owners followed their trusted CPA, Rob Eisenstadt, when he joined KRD as a partner in 2017. Their experience with the rest of the team has produced a seamless approach to their accounting and tax planning.
“They are essentially our outsourced accountants. My brother-in law and I send over the numbers, and they handle the complicated accounting and forecasting,” David said. “We meet with Rob twice a year and go over the past year’s projections and how the current year is going, and then we talk about what type of planning we should do in the short, medium and long-term.”
Going Above and Beyond
The benefits of this consistent focus on planning have been phenomenal for Crawford Steel. The business is well capitalized and debt free. There is a new 401(k) plan in place for the company’s eligible employees. The third-generation business also has expansion and succession plans that Rob and the KRD team will support with tax-smart recommendations.
“Everyone there, from Rachel [Barker] to Pawel [Szeliski] and Pete [Solov], are quick to respond and know what they’re doing,” David said. “We’re lucky to have both sides: that we like the people there and we feel confident in their work for us.”
In fact, David uses KRD for his personal accounting and tax needs, including services for a side business that he owns. KRD also handles his father, sister and mother’s tax needs. KRD’s accumulated knowledge and comprehensive offerings make decisions easy and meetings efficient, David added.
“It’s a little plus for me that we can go to one firm for all of these needs, including our personal retirement and estate planning. They work with our other advisors, too, really going over and above to make sure everything is covered.”
From maximizing profit sharing to identifying new markets, Crawford Steel always loops in KRD for ideas and guidance, David said. “It takes time to build this level of relationship, and they’ve been just great. I would highly recommend them to anybody who asks.”
