“My family has an entrepreneurial background, so running my own business was always a goal for me,” says Michael Caramagno, the founder of Caramagno & Associates. Caramagno & Associates’ mission is to provide top-quality tax, accounting, and consulting services to individuals and small business owners, giving them the ability to make informed decisions to achieve their personal and professional goals.
Prior to launching his own business, Caramagno worked for Grant Thornton, one of the world’s leading organizations of independent audit, tax, and advisory firms. He then moved to an in-house position with a public company. After extensive work experience in the industry, Caramagno knew he was equipped with the knowledge to support small businesses. “I wanted to work where I could add the most value,” he explained. With this inspiration, his entrepreneurial journey began in 2013.
Caramagno provides a personalized service for each of his clients. Their businesses are growing, and he is there to walk them through any new financial questions that they have. He prides his company on not nickel and diming clients, but rather building long-term relationships. He does not charge when he receives 10-minute phone calls regarding a specific bookkeeping or tax return question because he wants his clients to be proactive. “I consider these phone calls investments,” he says.
Caramagno has found that many clients turn to his expertise because he gives every client the attentiveness they are looking for. A large proportion of his clients are women who felt CPAs were not taking them seriously. “My initial CPA experience left me feeling discouraged and afraid to ask questions, which was the last thing my business needed,” says Alex Lesser, Franchise Owner of InXpress Chicago. “Michael has taken away the anxiety and uncertainty I typically associate with this process, which motivates me to learn and continue to be as efficient as possible with this aspect of my business.”
Caramagno gives each client the support they are looking for, but he is also motivated and inspired by all of his clients. He says, “They’re doing innovative work in niche markets. They teach me things every time I meet with them.” Caramagno & Associates can support their clients with: tax compliance, tax consulting, tax planning, bookkeeping, budgeting, forecasting, and Quickbooks training; providing them with essential assistance for success.
As his client base has increased greatly, Caramagno moved his growing business to Novel Coworking’s 73 W. Monroe location in July 2015. He says he finds Novel Coworking’s space to be much more customizable than his previous office space. He is comforted by the idea that as his company grows, he will not need to move out of his space, but can expand while staying at Novel Coworking.
Caramagno thoroughly enjoys giving presentations around the city to help groups of people at the same time, and hopes to continue to be able to share his knowledge at community-based events. As more people are inspired to go after their long-term goals, Caramagno is ready to offer the best advice and assistance since he has first-hand knowledge from his professional and entrepreneurial journey.