An investment in downtown Lake Oswego
Troy Reichlein believes downtown Lake Oswego is the place to be.
In fact, the City's vision to create a bustling, clean, walkable downtown core is part of the reason Reichlein — a local resident and proprietor of Reichlein CPA LLC — says he decided to purchase the building that formerly housed Lady Di's British Shop and Tea Room at 420 Second St.
Reichlein moved his accounting practice from Milwaukie to Lake Oswego about five years ago when his wife was pregnant with twins. He says he wanted to be closer to home and found office space in the Oswego Pioneer Plaza Building at Second Street and B Avenue.
Now he's moving into street-level offices — which Reichlein completely overhauled into a sleek and modern space — that he says will allow his firm to have more interaction with the downtown community.
"In Milwaukie, I was at street level for 15 years. In that time, I really got to see the activity of the community. I got to interact with the businesses around me," Reichlein says. "I always loved that about Milwaukie. So owning the building here is fantastic because it also provides that sense of community when I meet people walking up and down the street."
That sense of community is also at the heart of Reichlein's business. He says his firm's work is at its best when there's a strong relationship and sense of connection with their clients.
"The best relationships are the proactive relationships, where we'll communicate throughout the year. It's a two-way street. I have to hear back from the client and then the client hears from me," he says. "I have a knack for numbers. I don't necessarily love taxes, but I love knowing things about the tax code that save people money and how to structure things to get the best bang for the buck."
For much of the year, Reichlein CPA LLC, has three staff members who work on financial statements, taxes and consulting. During tax season, Reichlein's team doubles in size to meet the volume of work that comes at that time of year.
Reichlein personally began working in accounting in 1994 when he joined a CPA firm in Tigard. He opened his own practice in Milwaukie in 1996. In total, he has 24 years of professional accounting experience under his belt, and he uses that to help clients better understand their financial situations and plan out tax strategies.
That all begins, he says, by talking.
"We'll sit in here and talk. It's more of a casual conversation, but I'm actually figuring out what their interests and goals are," Reichlein says. "Do they already have a business? Do they already have rental property? If so, we expand on that conversation about how things work and how you can set things up for tax strategies or not."
With redevelopment bringing a lot of new businessess to downtown Lake Oswego, Reichlein says he's excited to be a part of the area's continued growth.
"I love (the City's vision) for the downtown; it's part of the reason we came here. We've found the sense of community is just amazing," he says.
For more information about Reichlein CPA, visit www.reichleincpa.com or call 503-653-9592. The company is open for business at its new location at 420 Second St. in Lake Oswego.
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