Executive Summary
The Challenge: Knowing What Not to Build
John Hunt’s journey to General Ledger Partners reflects a common theme in professional services: recognizing when specialization beats trying to do everything in-house.
After eight years in industry accounting with software and healthcare IT companies across Texas, Hunt pursued his CPA license in 2017. “I was a senior accountant at a healthcare company in Dallas, and I felt like I needed to level up,” Hunt explains. “I just bit the bullet and started going to night classes for grad school and started sitting for the CPA exams.”
That commitment to continuous improvement eventually led him to consulting, where he reunited with former colleagues Jason Terry and Jennifer Thomas to join General Ledger Partners about three years ago.
The Austin SaaS Landscape
Today, Hunt estimates that 70-80% of his clients are SaaS companies; a concentration that reflects both Austin’s thriving startup ecosystem and the particular financial complexities these businesses face.
“Being in consulting opens the doors to other industries and different business sizes as well,” Hunt notes. “But SaaS is really popular right now, so we have a lot of SaaS clients.”
This SaaS concentration creates a natural fit for R&D tax credits, but it also presented GLP with a strategic decision: should they build internal R&D tax credit expertise, or partner with specialists?
The Partnership Decision
Rather than stretching their team thin or moving outside their core competencies, GLP chose strategic partnership over service expansion. The firm doesn’t offer tax services, making specialized R&D tax credit providers like Boast a natural complement rather than a competitive threat.
“We don’t offer any kind of R&D studies or tax on that side of the field, so it complements us very nicely,” Hunt explains.
The Solution: Complementary Expertise Over Competitive Overlap
Hunt’s partnership with Boast began about three years ago through an introduction from his colleague Jason Terry. The value proposition was immediately clear.
The “Minimal Input” Advantage
This hands-off approach allows GLP to deliver additional value without:
- Hiring specialized R&D tax credit staff
- Training existing team members on complex qualification requirements
- Managing the administrative burden of claim preparation
- Navigating evolving federal and state regulations
“It seemed like a win-win,” Hunt explains. “It’s good for the client because they get free money from the government, and it’s good on our part because we really have minimal input there. We connect you guys to the financials and payroll, and the Boast team just hops in and does most of it.”
Focus on Core Strengths
By partnering rather than expanding services, GLP maintains laser focus on what they do best: comprehensive financial management, bookkeeping, and strategic advisory services for growing businesses.
The model works because each firm stays in their lane:
- GLP handles: Financial foundations, bookkeeping, strategic planning, and client relationships
- Boast handles: R&D tax credit qualification, claim preparation, documentation, and audit defense
- Clients receive: Comprehensive financial services plus maximized government funding
Seamless Client Experience
For GLP’s clients, the partnership creates a streamlined experience. Most utilize the payroll tax refund option, meaning they simply receive IRS checks a few quarters later without significant administrative involvement.
“Usually our clients will do the payroll tax refund option, so it’s like they just get, you know, few quarters later they get a check from the IRS and, you know, that’s that. It’s great,” Hunt notes.
The Results: Strategic Value Without Resource Drain
Since establishing the partnership with Boast, GLP has created measurable value for clients while maintaining operational efficiency.
Client Benefits
GLP’s innovative SMB clients, particularly early-stage SaaS startups, access significant government funding that extends their runway and accelerates product development—all without the typical administrative burden associated with R&D tax credits.
For companies at the two-to-three-year stage that Hunt typically works with, these credits provide crucial cash flow during critical growth phases.
Operational Efficiency
The partnership delivers value without straining GLP’s resources. As Hunt explains, the responsive Boast team handles questions and special situations quickly, allowing GLP to maintain focus on core services.
“The team is really good and really responsive and helpful with any questions I do have,” Hunt says about working with Boast’s partnership team.
Strategic Positioning
The partnership positions GLP as a one-stop shop for innovative SMBs seeking both solid financial foundations and specialized tax optimization—a combination that significantly impacts cash flow and growth trajectory.
The Boast Partnership Advantage
Hunt’s experience working with Boast illustrates several key differentiators that make the partnership successful.
Specialized Expertise
Rather than attempting to build R&D tax credit expertise internally, GLP leverages Boast’s specialized knowledge of complex qualification requirements, documentation standards, and audit defense strategies.
Responsive Support
When unique client situations arise, Hunt can quickly connect with the Boast team to work through scenarios and determine optimal approaches.
“If I ever have a question about how a client situation would apply or kind of work out with the R&D tax credit, then I’ll usually email Sylvia or kind of call her and just talk through it with her,” Hunt explains.
Proactive Communication
The partnership includes regular knowledge-sharing through lunch-and-learns and updates on regulatory changes, ensuring GLP stays informed about opportunities for their clients.
Looking Forward: Texas R&D Tax Credits and Beyond
While many of Hunt’s early-stage clients haven’t been significantly impacted by recent federal R&D amortization changes, the landscape is evolving rapidly—particularly at the state level.
Major Texas Changes in 2026
Starting in 2026, Texas will implement significant improvements to its state-level R&D tax credit program:
- Credit rate increase from roughly 5% to 8.72%
- Streamlined processes aligned with federal requirements
- Simplified claiming with documentation overlap between state and federal programs
For a company with $1 million in R&D expenses, this represents an increase from approximately $50,000 to $87,000 in tax benefits.
“I think that longer term for these guys, planning for the future, that’s a good thing,” Hunt reflects on the upcoming changes.
The partnership with Boast positions GLP’s clients to seamlessly access both federal and state benefits without duplicating efforts or documentation.
GLP’s Evolution
As GLP approaches its fifth anniversary, the firm is undergoing a comprehensive brand refresh and service expansion:
Brand Refresh: New logo, modern website design, and enhanced public resources reflecting the firm’s growth from two founders to 13 team members.
Specialized Offerings: Restructuring services around two focus areas:
- Nonprofit expertise: Leveraging strong team background in nonprofit accounting
- Financial services expansion: Adding CFO advisory, FP&A, budgeting, forecasting, scenario modeling, and strategic advisory
This evolution demonstrates the same principle behind the Boast partnership: strategic expansion into areas where GLP can deliver unique value, while partnering for adjacent specialties.
The Partnership Principle
Hunt’s experience with Boast highlights a fundamental principle for successful business partnerships: complementary expertise creates more value than competitive overlap.
Key Success Factors
Clear role definition
Each partner focuses on core strengths rather than encroaching on the other’s territory.
Mutual benefit
Both firms win when clients succeed, creating aligned incentives.
Seamless integration
Simple handoffs and clear processes minimize client friction.
Responsive communication
Quick resolution of questions and special situations maintains momentum.
The Win-Win Reality
For GLP, the partnership delivers:
- Additional client value without resource drain
- Expanded service offerings without hiring specialized staff
- Enhanced positioning in the competitive Austin market
- Stronger client relationships through comprehensive solutions
For clients, the results are even clearer:
- Maximized government funding with minimal administrative burden
- Single point of contact for comprehensive financial services
- Expert guidance across both core accounting and specialized tax optimization
- Extended runway and accelerated innovation
“Working with Boast over the years, you guys have been great and we appreciate everything you do,” Hunt says. “It makes our life easier. It benefits our clients. So yeah, anybody looking for R&D tax study out there, come to Boast. They’re great.”
The Bottom Line
John Hunt’s approach at General Ledger Partners demonstrates that knowing what not to build internally can be just as strategic as knowing what to develop. By partnering with specialized R&D tax credit providers like Boast, accounting firms can deliver comprehensive value without diluting their expertise or overwhelming their teams.
For innovative SMBs—particularly in SaaS—this partnership model provides access to both solid financial foundations and specialized tax optimization. In a landscape where cash flow often determines survival, that combination can make the difference between running out of runway and achieving sustainable growth.
As Texas prepares to enhance its state-level R&D tax credit program and federal regulations continue to evolve, strategic partnerships between accounting firms and specialized providers will become increasingly valuable. The firms that recognize this reality—and choose collaboration over competition—will be best positioned to serve the next generation of innovative businesses.
Ready to explore how strategic partnerships can enhance your firm’s value proposition? Connect with Boast’s partnership team to learn how we support accounting firms and their innovative clients.
General Ledger Partners provides detailed, efficient, and accurate bookkeeping and financial consulting services to small businesses based in Austin, Texas. Founded five years ago, GLP has grown to 13 team members serving innovative SMBs across industries with a concentration in SaaS. Learn more at generalledgerpartners.com.
