Abacus Accounting

What Abacus Accounting does

Abacus Accounting Services, Inc. is a privately held professional services firm founded in 1999 and headquartered at 399 S. Broadway Street, Lake Orion, Michigan. The firm provides tax preparation and management, accounting, business advisory, business start-up, and individual financial services to individual clients and small-to-medium businesses in Lake Orion and surrounding Michigan communities. Its five core service lines — Business Advisory, Business Start-up, Accounting, Tax Management, and Individual services — are delivered as professional engagements rather than software products, with a relationship-based advisory model positioning the firm as a 'Trusted Advisor & Solution Provider.'

The firm is led by President Teri Hockstad, an Enrolled Agent (EA), and operates with an undisclosed team of experienced professionals from a single physical office. Service delivery combines in-person consultations, document drop-off, mail and email submission, and a recently introduced client portal for secure document exchange. Pricing is not publicly disclosed and is structured per engagement.

The business model is professional services revenue, with the firm describing its revenue streams as Professional Accounting Services, Tax Management Services, and Business Advisory. The firm is privately owned with no external investors, parent company, or subsidiaries disclosed. There is no proprietary technology platform, no AI/ML capabilities, and no software products; the firm's competitive posture rests on its 25+ year local reputation, community presence, and embedded client relationships rather than on technology or scale.

Name

Abacus Accounting

Legal name

Abacus Accounting Services, Inc.

Website

https://abacusacct.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Abacus Accounting Services is a privately held, single-office tax, accounting, and advisory firm founded in 1999 in Lake Orion, Michigan, serving individual clients and small-to-medium businesses across the Lake Orion area and surrounding communities.

Ownership category

akta.pro rank

Headquarters

HQ city

Lake Orion

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Professional Accounting Services: Ongoing and project-based accounting services for individuals and businesses, including bookkeeping, financial statement preparation, and business advisory engagements.
2. Tax Management Services: Tax preparation, planning, and management services for individuals and businesses, including business tax compliance, individual tax filing, and proactive tax strategy advisory.
3. Business Advisory: Advisory services for business start-ups and ongoing strategic guidance, including entity formation consultation, cash flow analysis, and business planning.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Abacus Accounting provides fee-based professional tax preparation, accounting, bookkeeping, and business advisory services to individuals and small-to-medium businesses in Lake Orion, Michigan and surrounding communities. The firm also assists with new business formation (entity selection, registration, initial financial setup) and offers proactive tax planning alongside its core compliance work, positioning itself as a long-term Trusted Advisor rather than a transactional tax preparer.

Product overview

Abacus Accounting Services is a single-service accounting and tax firm that provides a unified suite of professional services rather than a modular software product. The core offering consists of five integrated service lines: Business Advisory, Business Start-up, Accounting, Tax Management, and Individual services. These services are delivered as professional consulting rather than software products. Additionally, the firm provides six financial education guides (Taxes, Life Events, Insurance, Financial Planning, Business, and Banking) as informational resources for clients. There is no platform-plus-modules architecture—all services are offered as direct professional engagements with a focus on personalized, relationship-based advisory.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Advisory Services Strategic advisory engagements that help clients understand the state of their business and proactively identify opportunities for growth and wealth, targeted at small and medium-sized business owners and principals in the Lake Orion, Michigan area.
• Business Start-up Services Advisory and consulting service assisting entrepreneurs and new business owners with entity type selection, registration requirements, and initial financial setup, targeted at startups and new business formations in the Lake Orion area and surrounding Michigan communities.
• Accounting Services Comprehensive ongoing accounting services including financial record keeping, financial statement preparation, and bookkeeping support, targeted at small and medium-sized businesses in the Lake Orion, Michigan area.
• Tax Management Services Tax preparation, filing, planning, and management services covering both individual and business tax returns, including strategies for tax deferral and optimization, targeted at individuals and SMBs in the Lake Orion area and surrounding Michigan communities.
• Individual Services Personal tax preparation and financial services for individual clients, including tax filing support, personalized financial guidance, and access to tax tips and planning resources, targeted at individual taxpayers in the Lake Orion area and surrounding Michigan communities.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• 1-800Accountant: Virtual accounting and tax firm serving small businesses and individuals nationwide. Directly comparable service offering (bookkeeping, tax, advisory for SMBs and individuals) but delivered remotely rather than from a local office.
• Padgett Business Services: Franchise network providing accounting, tax, payroll, and advisory services to small businesses. The closest direct peer to Abacus in terms of full-service SMB accounting, tax, and advisory offering delivered through a local office.

Broad incumbents

• Liberty Tax: National tax preparation franchise offering individual and small business tax services through local offices. Comparable to Abacus in targeting local consumer and SMB tax clients with a relationship-driven model.
• Intuit TurboTax Live: Digital tax preparation platform with an optional human-assisted tier connecting users to tax experts. Competes with Abacus for individual tax preparation clients via a tech-forward, lower-touch delivery model.
• Jackson Hewitt Tax Service: National franchise-based tax preparation chain serving individuals and small businesses through retail locations. Closely comparable in client mix (individuals and SMBs) and core service (tax prep) to Abacus.
• KPMG US Tax Practice: Big Four firm offering individual and small business tax services alongside broader advisory. Comparable service categories but serves larger, more complex engagements than Abacus.
• H&R Block: National tax preparation chain offering individual and small business tax services via in-person offices and digital channels. Directly comparable to Abacus on individual and SMB tax preparation, but at vastly larger scale and with proprietary technology.

Emerging players

• Botkeeper: AI-driven bookkeeping service for small businesses combining software with human review. Competes with Abacus's accounting service line for SMB clients seeking automated, lower-cost bookkeeping.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Customer concentration

• Facebookfacebook.com/abacusaccountingservice

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 Abacus Accounting