When it comes to selecting a certified public accountant, or CPA, there are numerous options for businesses. Selecting the right CPA can be quite a daunting task, but it is crucial to find one as they can provide all the necessary accounting advice at any stage of a business – from startup all the way to succession planning. Businesses want a CPA that is a good communicator, is able to strategize to maximize all finances, and can adjust and minimize risk. The right CPA is priceless to any business. But what are some of the key things businesses should look for in their CPA?
A good CPA will want to meet with the business more than just once a year to complete tax planning. They will want to meet at least quarterly to review any progress, offer advice on any estimated taxes, and provide enough information so businesses are not surprised by a large tax bill at the close of the fiscal year.
What about the integrity of the CPA? Find out their track record when it comes to business decisions that are morally and ethically sound. While businesses cannot find this out from the actual CPA, businesses can require references. Check up on the references and see what past clients have had to say. If the CPA does not want to release any information regarding references, it is time to look at another place for a CPA.
One of the most important qualities of any CPA is their organizational skills. Businesses need to be cautious if they walk into the office of the CPA and there are stacks of papers and folders everywhere, and everything just seems a bit out of place. If a CPA has an unorganized office, it is quite possible that most likely they will be unorganized when managing the accounts of the business. Again, contacting references is always a good way to determine the organizational habit of the CPA.
Think about the personality of the CPA. While businesses may not become best of friends with their CPA, they do not want someone who is a stick in a mud. A business needs to feel comfortable, not scared or nervous, when calling their CPA to ask about advice on major purchases or business deals. While CPAs do have a reputation of being conservative and not always the best communicators, individuals should not feel uncomfortable around them.
While the advent of the internet has made it easier to contact CPAs without being in close proximity to them geography-wise, it is none-the-less beneficial to find a CPA that is located nearby. If there is some last minute paperwork to deal with that requires a business owner to travel to the office of the CPA, they do not want to spend half the day traveling to and from. While outsourcing CPA work is very attractive to some businesses, it is not always in the best interest of the business to have their CPA located in a different country that does not have the same tax laws (even though they might be trained in them).
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