Choosing the Right CPA (or Tax Advisor) For You & Your Business

What do you look for in a CPA? Start right here...

Certified Professional Accountants (CPAs) are more than
just individuals who do your yearly taxes. They can advise
you on a long list of other services, which may include
advice on your accounting system, financial, retirement,
estate and tax planning. CPAs are part of a business
owner's professional team along with a banker and lawyer.
Here are some suggestions on choosing the right one for you
and your business.

Ask for recommendations
Your local Chamber of Commerce will tell you the names of
CPAs who are members. Also, when you attend any type of
meeting, or meet other business owners, ask for CPA
recommendations from them.

Use the 60% rule
Pick a CPA who has 60% of his or her business coming from
business owners such as yourself. A CPA is more apt to keep
up with the laws specific to clients they deal with most
often. If your business is incorporated, make sure that the
person specializes in corporate accounting, including
financial statements and audits.

Interview CPAs
Ask what type of services they do for their clients, how
long they've been in business full time, and for
references. Don't forget to ask to see their license. Ask
them about the benefits of choosing them over another CPA.

Rates
Ask about their rates and what those rates include. If they
have a rate chart, all the better. Also, ask what their
hourly rate is and what the cost would be to answer
questions during the year.

Ask about record keeping
Ask what computer program they prefer you use for your
record keeping and why they prefer that program. Many
times, if you use the program they suggest, it can save you
some money because they can use your data files. Some even
have programs they'll set up especially for you.

Bring your records to the interview
Bring a copy of last year's tax return when you interview a
CPA. This way your prospective CPA can give you educated
estimates as to what their services will cost you.

How to file
If you want to save some money, ask how they want your
paper files. If you bring your files to them in shoeboxes -
hey, many folks do - you will pay to have all that material
organized and deciphered! You can save money if you
separate the information the way the CPA suggests.

Corporation vs. individual
Are you interested in hiring a corporation of CPAs or a CPA
that has his or her own business? If you opt for the
corporation, find out if you'll be dealing with one
particular person, or will it be whoever answers the phone
when you call. It's best to build a relationship with one
person.

When do they work?
What are their hours of operation? Make sure that you can
call them at hours that are convenient for you.

Making a decision
Interview at least three CPAs. Don't rush this decision.
Make sure you have the best CPA and bookkeeper for you and
your business!

(c) 2007 Maria Marsala


Choosing the Right CPA (or Tax Advisor) For You & Your Business - To learn more about this author, visit Maria Marsala's Website.

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