Vanessa Piedrahita, Latin America Practice Leader and Tax Partner, Aprio

In an interview with Invest:, Vanessa Piedrahita, Latin America practice leader and tax partner at Aprio, shared insights on the firm’s milestones in Fort Lauderdale, trends in cross-border tax strategies, emerging investment opportunities, industry talent challenges, and priorities for Latin American expansion.

What were the significant milestones and achievements for the firm in Greater Fort Lauderdale over the last year?

Over the past 12 months, Aprio has experienced incredible growth. We were named one of the fastest-growing firms in the U.S. Our Fort Lauderdale office has been a key part of that journey. About 18 months ago, we became part of Aprio, and since then, our expansion has been tremendous.

 Our Fort Lauderdale office is uniquely positioned to serve not just Florida but also our Latin American clients. Our focus on international tax sets us apart, and it’s an area where Aprio differentiates itself from other firms.

We are building specialty services to foster closer relationships with our clients. We speak their language, understand their businesses, and connect with their cultures. This isn’t limited to Latin America; it extends to other regions as well. Leading Aprio’s Latin America Practice, I can personally attest to our commitment to expanding in this market.

One of our proudest achievements in 2024 was reducing 35,000 hours of manual labor through advancements in technology and AI. This innovation allows us to spend more time with our clients, focusing on advisory services, which is exactly what they want and need from us as advisors.

How are you tailoring your services to meet client needs?

We conducted a client survey asking what they wanted most from their CPA or advisor. Interestingly, none of the responses focused on better tax returns. Instead, clients overwhelmingly said they wanted more time with their advisors. They wanted to talk to us.

The true value of our services lies in understanding our clients’ needs, tailoring solutions, and anticipating their challenges. This kind of personalized service only happens when you invest time in building relationships with your clients.

What trends or shifts have you observed in cross-border tax strategies, especially in the industries you serve?

A significant development in 2024 was the signing of a historic tax treaty between the United States and Chile. This was a milestone moment.  It was a treaty 20 years in the making, and it finally came to fruition.

This is significant because there are only three Latin American jurisdictions with tax treaties with the United States: Mexico, Venezuela, and now, Chile. This treaty represents an important step for the region, opening up new economic opportunities for U.S. investors in Chile and for Chilean investors in the United States. It is not just about taxes, it’s about fostering growth and investment in the region.

How are global economic conditions impacting your clients’ strategies and planning needs?

It’s an interesting and uncertain time globally. Economic volatility is making clients more cautious about where to move, how to invest, and what decisions to make. This creates an opportunity for professional advisors like us to step in and provide guidance.

Election years always bring a wave of change as the economic landscape in the United States shifts. As advisors, our role is to anticipate these changes and stay close to our clients to help them navigate uncertainty.

While this volatility can be challenging, it also opens doors for both clients and advisors. It’s about finding opportunities amidst uncertainty and using our experience to help clients thrive in a dynamic environment.

Are there any emerging opportunities businesses or investors should be aware of? How can they position themselves to leverage those?

In the tax world, we’re closely watching the potential extension of provisions under the Tax Cuts and Jobs Act (TCJA). These provisions, which have provided significant tax benefits to U.S. companies, are also highly attractive to Latin American investors looking to move their assets into dollars and invest in the United States. The anticipated extension of these provisions offers a sense of security, which we believe will lead to a significant wave of investment from Latin America, especially jurisdictions like Mexico, Brazil, Chile, and Argentina, into South Florida.

While the extension is not yet finalized, with budget reconciliation underway, the outlook is optimistic. Investors should start planning now to position themselves strategically for these opportunities. 

What is next for the industry?

The future of accounting is undeniably tied to technology. Rapidly changing technological environments, especially advancements in AI and process implementation, are driving transformation.

Our role as advisors has never been more crucial. We must help clients navigate these changes and leverage technology to create efficiencies and add value to their operations. Whether it’s advisory services or helping businesses adopt new tools, technology is at the core of what’s next for our industry.

What are your thoughts on the talent challenges in the industry?

Talent remains a significant challenge across the industry. There’s a noticeable gap between experienced professionals and the new generation entering the field. This generational divide highlights the importance of staying ahead with strong learning and development initiatives.

At Aprio, we’ve prioritized creating a healthy, inclusive culture to address these challenges. We’re heavily invested in Employee Resource Groups (ERGs) to foster community and belonging. For instance, I sponsor our Latinx and Hispanic heritage ERG, called SOMOS@Aprio, which provides team members with a sense of connection and support throughout the firm.

We also focus on flexible work schedules, mentorship programs, and professional growth opportunities. I mentor Latin women at the firm to help them thrive and feel seen. Building a strong sense of community and offering meaningful support is essential for retaining talent. You can’t simply pay your way to employee happiness. It’s about creating a workplace where people feel valued and inspired.

What advice would you give to companies looking to expand their operations into Latin America?

International taxation has two facets: inbound, referring to foreign investment into the United States, and outbound, referring to U.S. investment abroad. For outbound expansion — U.S. companies investing in Latin America — it is crucial to obtain the right advice. Tax systems in Latin America function very differently from those in the United States, making the expertise of a knowledgeable, local advisor indispensable.

A local advisor must collaborate closely with a U.S. advisor to guide clients effectively through the complexities of international tax compliance. At Aprio, we’ve built strong relationships with advisors in most Latin American countries, enabling us to provide seamless support for clients expanding into the region.

For inbound investment — foreign companies entering the United States — it’s just as crucial to follow the rules carefully. The U.S. tax system can be complex, and penalties for non-compliance can be severe. However, with the right guidance, navigating the system is entirely manageable. Trusting your advisor and playing by the rules is the key to success.

What are your top priorities for Aprio’s Latin American practice over the next few years?

We are incredibly excited about the future. The economic environment presents a wealth of opportunities, and I always say the best opportunities arise during challenging times.

Our focus is on expansion and growth. We’re prepared to serve clients with both inbound and outbound needs, leveraging our deep understanding of their languages, cultures, and unique situations. This connection fosters trust and makes clients feel valued. They feel they are more than just a number. For example, when a client knows we understand their home country and have even visited their city, it creates a bond that’s hard to replicate. This personalized approach is akin to visiting a doctor who knows your name and history before you even step into the room.