Flax CPA & Business Solutions

What Flax CPA & Business Solutions does

Flax CPA & Business Solutions is a privately held, Chicago-based accounting firm founded in 2023 that delivers bookkeeping, payroll, tax planning, and tax filing services exclusively to mental health professionals and group practice therapists. The firm is co-owned by Michael Flax (CPA, MBA) and Sheridan Pannozzo (CPA) and operates with a six-person team that includes a CPA/CGMA tax manager, a staff CPA/MSA, a client success manager, and an enrolled agent, providing the professional credentials required to handle IRS and state correspondence on behalf of clients.

The firm packages its services into three monthly subscription tiers — Solo (sole practitioners), Growing (practices with at least one clinician, adding payroll, S-corp, and tax planning), and Established (group practices with 7+ clinicians, adding CFO analytics and CFO calls). Service delivery is fully remote (phone, email, text, Zoom), and the technology stack is composed entirely of best-of-breed third-party SaaS rather than proprietary software: QuickBooks Online for accounting, Gusto for payroll, Uncat for receipt capture, with Xero and Wave as alternative bookkeeping options, and TaxDome as the client portal. Higher tiers bundle software subscriptions (QuickBooks Online, Gusto) into the engagement fee.

The go-to-market is sales-led and direct: free expert consultations, an SEO-driven blog targeting therapy-practice-specific topics (S-corp elections, mental-health deductions, quarterly filings), LinkedIn for professional networking, and testimonials from named customers (DrPsychMom, Dr. Daisy & Co., Greenspan Consulting). The firm claims first-year clients save an average of $40,000 in taxes, with one public testimonial citing an 18%+ year-over-year tax reduction. The business is bootstrapped (no disclosed external funding), and customer concentration is heavily skewed to one vertical — mental health and adjacent health-adjacent solo and small-group practices.

Name

Flax CPA & Business Solutions

Legal name

Flax CPA & Business Solutions

Website

https://flaxcpa.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Flax CPA & Business Solutions is a Chicago-based, privately held accounting firm providing bookkeeping, payroll, tax planning, and tax filing services exclusively to mental health professionals and group practice therapists through a three-tier monthly subscription model.

Ownership category

akta.pro rank

Product category

Specialized Accounting and Tax Services

NAICS

Offices of Certified Public Accountants (541211), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Services-Management Consulting Services (8742), Services-Management Services (8741)

akta.pro primary industry

Tax Operations Support (Indirect Tax, Withholding, Compliance Admin) (BPAAAGAI)

akta.pro secondary industry

Financial Planning & Analysis Support (Budgeting, Forecasting, Management Reporting) (BPAAAGAJ)

Keywords

• Accounting services
• Tax planning
• Bookkeeping services
• Payroll processing
• Mental health accounting

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Professional Accounting Services: Tiered subscription-based services for mental health practice owners including bookkeeping, payroll processing, tax planning, and tax filing. Three packages (Solo, Growing, Established) with increasing services and pricing based on practice size and complexity.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Flax CPA & Business Solutions delivers specialized accounting, bookkeeping, payroll, and tax services to mental health professionals and group therapy practices through three tiered monthly subscription packages: Solo (sole practitioners), Growing (practices with 1+ clinicians), and Established (7+ clinicians). Services span S-corp and partnership tax returns, individual 1040 returns, quarterly estimated tax payments, monthly growth reporting, payroll processing and tax compliance, and CFO-level analytics for larger practices.

Product overview

Flax CPA & Business Solutions is a specialized accounting, payroll, and tax firm serving mental health professionals and group practice therapists. They offer a tiered service model: the Solo tier for sole practitioners, the Growing tier for practices with at least one clinician, and the Established tier for group practices with 7+ clinicians. Core services include Tax Planning (S-Corp and Partnership tax returns, 1040 Individual returns, quarterly estimated taxes), Payroll Services (salary calculations, payroll processing, tax compliance, employee onboarding), Bookkeeping (monthly growth reports, receipt management, QuickBooks Online management, financial breakdown packages), and Tax Filings. Higher-tier packages include CFO-level analytics and advisory services. The company integrates with QuickBooks Online, Gusto, Uncat, Xero, and Wave for service delivery.

Differentiator

Problem solved

Functional benefit

Products and services

• Tax Planning Tailored tax strategies for mental health private practices including 1120S (S-Corporation), 1065 (Partnership) tax returns, 1040 Individual Income Tax Returns, and Quarterly Estimated Tax Payments, designed to save clients tens of thousands of dollars per year through S-corp elections and self-employment tax reduction strategies.
• Payroll Services Comprehensive payroll processing for mental health practices including audit-backed salary calculations, regular payroll processing, payroll tax compliance, employee onboarding, and management of 401ks and worker's comp.
• Bookkeeping Monthly financial reporting and accounting services for mental health practices including a dedicated accuracy transaction team, receipt and QuickBooks Online management, Monthly Growth Reports delivered by the 15th after month-close, and a Monthly Financial Breakdown Package.
• Tax Filings Complete tax filing services that handle all required tax filings on behalf of the client to ensure compliance, including management of IRS and state correspondence.

Quantifiable outcome

• First year clients save an average of $40,000 in taxes
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• FinOptimal: Outsourced bookkeeping, controllership, and CFO services for SMBs using tech-augmented workflows. Comparable in fractional back-office finance + advisory subscription offerings for small businesses.
• Bench: Subscription bookkeeping service for small businesses using proprietary software paired with human bookkeepers. Comparable in recurring subscription pricing and bundled bookkeeping + financial reporting, but targets horizontal SMB rather than a healthcare vertical.
• Xendoo: Subscription cloud-based bookkeeping, tax, and CFO services for small businesses and solopreneurs. Comparable in monthly subscription pricing and integrated bookkeeping + tax + advisory bundle.
• Botkeeper: AI-driven bookkeeping platform combined with human accountants, sold both direct to SMBs and white-label to CPA firms. Comparable in subscription bookkeeping + accounting automation targeting SMBs and accountants, though broader in vertical scope.
• Pilot.com: Subscription-based bookkeeping, tax, and CFO services for SMBs and startups, delivering monthly close through a tech-enabled platform. Comparable in subscription model, SMB focus, and tech-augmented delivery, though without Flax's mental-health vertical specialization.
• Ignite Spot Accounting Services: Virtual bookkeeping, tax, and accounting services for SMBs delivered remotely with monthly packages. Comparable in subscription pricing and remote-delivery outsourced accounting model.
• inDinero: Outsourced bookkeeping, tax, and CFO services for SMBs and growth-stage companies on subscription. Comparable in bundled accounting + tax + CFO advisory offering and SMB target market.
• 1-800Accountant: Virtual accounting and tax advisory service for SMBs offering bookkeeping, tax, payroll, and CFO support on subscription. Comparable in bundled SMB accounting/tax services and remote-delivery model, though without vertical specialization.

Broad incumbents

• Baker Tilly: Top-12 US accounting and advisory firm with a dedicated healthcare industry group serving medical practices and group practices. Comparable overlap on healthcare-practice tax, bookkeeping, and CFO advisory, but as a broad incumbent with much larger scale.
• Wipfli: Top-25 US accounting and consulting firm with a healthcare practice serving medical groups, dental groups, and behavioral health providers. Comparable in serving healthcare practices with tax, bookkeeping, and advisory, though at far greater scale and horizontal scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/FlaxCPA
• LinkedInlinkedin.com/company/flax-cpa-business-solutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flax CPA & Business Solutions