The Monayi T. Jacob, CPA practice started in 1993 on a small
operating scale from Monayi’s (the founder and sole employee)
home. On April 14, 1996, the business moved into an office space
at CRS Towers located near downtown Dallas. On July 1, 1996,
the practice was incorporated as a Professional Corporation (PC)
and has been operating as such since then.
In the primary days of
incorporation, running the business was very difficult. The firm
operated with one part time employee for two or three years and
then began hiring full time employees. The staff spent long hours
in the office on a daily basis, and Monayi even worked on the
weekends continuously. The firm consistently maintained their
endeavor to achieve financial freedom and develop professionally.
Presently, there are four full-time employees (including Monayi).
The clientele range from Healthcare clients under Medicare &
Medicaid programs, Nonprofit Entities, and general clients scaling
from small truck companies to doctor’s clinic, engineering firms,
and merchandising companies.
Services includes client write-ups,
payroll services, tax filing for all types of clients, cost report
preparation, consulting, serving as a part-time CFO for mid-sized
companies, and interacting with in-house accountants.
In 2004, the
firm decided it needed to move into a larger space to smoothly run
its business. After conducting a feasibility study on Leasing vs.
Owning, the firm purchased one acre of land on Texas highway I-
30 near the former office to build an office. Furthermore,
additional space was allocated in this purchase for future rent to
help the firm in loan repayments.