As a small business owner, having an accountant on hand is incredibly important – not only for the sake of making sure your taxes are paid on time, but also for the sake of making sure your payroll taxes are paid and that you are making the necessary write offs. If you don’t have an accountant, your small business may be swimming up stream. In order to hire a CPA, or certified public accountant, that you can trust, you need to make sure that you follow a number of critical steps. If you don’t go by the books, it will be difficult to find the right accountant or you may hire a CPA that isn’t right for your business. The last thing you want is to keep paying for the wrong accountant. Here are five CPA hiring tips for small business owners.
- Make sure that you get recommendations from other small business owners – for instance, a fellow business owner may recommend The Shealy Group or another CPA firm. When it comes down to it, getting recommendations will also cut down the amount of time it will take to go through extensive background checks, which can not only be time consuming, but also expensive.
- Make sure that you know what you want in a certified public accountant – do you want a firm to work on all aspects of your business’ financial requirements, or do you want a single accountant to work on your yearly tax returns. If you are a really small business, you may need less and thus may not need to spend as much capital on a CPA. However, if you are a on boundary between a small business and a medium business, you may need more from your CPA or accounting firm.
- Make sure that you are organized – it will be a lot easier for an accountant to get to work if you are organized. If you are worried about your bottom line and you are contracting out your accounting needs, you want to avoid paying for someone else to clean up your mess, because this can start to get pricey. Ideally, you want to have all your books organized and you want your paperwork to be filed – you want an accountant to immediately start working on the important stuff.
- Make sure that you meet with different accountants face to face – even if you are hiring a satellite CPA or accounting firm, you want to have a video conference. You will be able to know right away if you want to work with an accountant after having a meeting. You can think of this meeting like the final hiring meeting – if the accountant does not exactly meet your standards, you may want to move on.
- Make sure that your accountant has a list of your deductions – one of the most crucial reasons why you want to hire an accountant is for the sake of writing off certain expenses. These expenses may have to do with your business or its overhead. In the end, you can wind up saving a lot of money by having your CPA calculate all these write-offs.