Choosing a good accountant is essential to the success of your new business.
A good accountant can help you with:
- Meeting your tax obligations properly
- Watching for unusual or improper financial transactions
- Avoiding tax audits
- Doing long-range financial planning for your business
- Tax planning
- Business consulting
- Personal finance advice
- Technology know-how
- Networking
Switching accountants is a cumbersome and costly task, making the process of finding a good accountant even more important.
Once you have decided what services you need, and defined the qualifications you are looking for, it is time to begin your search.
Obtain recommendations from people you know, especially business owners, bankers, insurance agents, your business’ trade association, etc. Consider joining a local service organization such as a rotary club to network and ask for reliable recommendations. Or, use an online service. Try to compile a brief list of potential accountants.
Do a thorough review of the accounting firm’s website, seeing if it has a secure client portal, financial guides, tax calculators, and other resources that will benefit you. Call the Better Business Bureau to check possible complaints against accountants that you are considering, check with your local or state professional licensing board to make sure that the accountants meet all licensing requirements.
Next, set up personal meetings with the accountants you are considering.
Be sure to ask if assistants will be handling most of your work, if they have experience with businesses similar to yours, and what kind of business advice they will be able to offer you. A good accountant should have business acumen in addition to being able to accurately crunch numbers. Ask the candidate for a few quick ideas on how your business could save money right now.
This initial meeting is a chance for you to interview the accountant and determine if they have the qualities that will sustain a long-lasting relationship with your business, and the personal meetings will be critical in choosing the right accountant.
Finally, get written estimates of hourly charges or fees for specific services. Rate and compare the remaining accountants, choosing the best one for your business and budget!
A few tips and tactics to consider:
- Don’t rush. Take the time to do a thorough search.
- Save money by doing some of the accounting functions yourself or by hiring a basic accountant instead of a CPA. (Just make sure your bank loans don’t require a CPA).
- Find someone who has experience working with your type of business.
- Call potential accountants a couple times with a question or two. Note how quickly yourccall is returned, how pleasant they are to work with, and how thorough their answerscare.
- Most importantly, make sure you are comfortable with your accountant!
For additional information, please email info@incplan.net.
This document has been prepared using the best available sources. However, tax laws and interpretations of tax laws are always changing. Inc. Plan (USA) cannot guarantee or warrant the accuracy of the information contained herein. In legal and accounting matters, seek the advice of an attorney or an accountant.
