| Ok, so you are looking for a new or different CPA. | | | | OR, one lump sum for designated services |
| Maybe you had a great CPA in the past, maybe you | | | | (contracted)? |
| are just looking for someone new and different | | | | Do you require a retainer? Is the retainer applied to my |
| because you want to or your feeling as if you could | | | | balance or is additional money due? |
| do better if you switched. Whatever your reasons, | | | | Often people with a small business require the help of |
| there are a few things to keep in mind when you are | | | | a CPA who knows more than tax prep. They need a |
| choosing a new CPA. Tax filing season is upon us and | | | | person who is willing to also give them business advise. |
| ideally, your search has begun long before this time of | | | | Not just their business, but their lives in relation to their |
| the year. The bottom line is that the sooner you get | | | | business - vacations (for instance) that can be taken |
| started, the better, because good relationships have a | | | | as business trips. Those kinds of business owners |
| chance to develop before it's crunch time! | | | | need quarterly tax help, business projections, tax |
| Overwhelmed Accountants are hard pressed in March | | | | projections, and generally want a comptroller type of |
| or April to help a client who is completely new. if you | | | | accountant to watch over them. If you are that kind of |
| decide to show up at a CPA's office on April 1, hoping | | | | business person then another question you need to |
| to be put first in line for completion of your Schedule C | | | | ask is if that accountant is willing to work with you in |
| and your Corporate tax filing (plus your payroll and | | | | that capacity and what percentage of their client base |
| 1099/1096 filings) - think again. You are more than likely | | | | makes up those kinds of clients. For example, you'll |
| to be put at the end of the waiting list and will probably | | | | want to know if you can get the numbers you need |
| have to file an extension. | | | | for projections in time for your year-end meetings. |
| There are important issues that matter beyond your | | | | And some business owners want even more help yet |
| tax preparation. You will need (and want) to find a | | | | - they want a CPA who will also do their bookkeeping. |
| professional who understands - specifically - your type | | | | Watch out for this for the simple reason that a |
| of business and may understand your personal | | | | bookkeeper AND a CPA can work together and a |
| financial situation too. You'll also want someone you | | | | bookkeeper will - in general - charge less than a CPA |
| feel comfortable with. I have found that it is one of the | | | | to do the same work, plus you have the added bonus |
| most important choices you will make. You are trusting | | | | of two set of eyes cross-checking the work of the |
| someone else with the information that makes up your | | | | other, therefore your chances of theft are lowered. |
| business, your assets, and your problems. Complete | | | | Theft is big business these days. |
| confidentiality. | | | | Other questions you want to ask include: |
| Choose a CPA carefully. Most people start looking by | | | | If I am audited by the IRS will you handle the audit for |
| asking like-minded business owners for referrals, | | | | me? |
| especially if they are in the same industry. For instance, | | | | Do you provide correcting general journal entries to my |
| a restaurant owner is going to want an accountant | | | | bookkeeper at the end of the year when my taxes |
| with experience in restaurants and an auto repair | | | | are filed or do you charge extra for that? |
| business will want someone with experience in auto | | | | Do you do on-site visits for tax 'health checkups?' |
| repair... because their experience in that area is | | | | Coming from the side of the accountant you want to |
| important. | | | | hear them asking YOU these questions: |
| Once you have some names to call, make an | | | | What areas do you need help in? (Corporate taxes, |
| interview appointment with that person. Do not be shy | | | | individual taxes, business succession, estate planning, |
| when it comes to asking probing questions about a | | | | strategic planning are just a few of the things they |
| CPA's experience and background. They will be | | | | should be asking you about). |
| handling all of your issues regarding your financial | | | | The best question will be saved for last by any good |
| security. It's not out of the ordinary to ask these | | | | accountant: |
| questions. | | | | Why are you changing accountants? Have a good |
| Here are some good questions to ask - | | | | answer ready because if you answer this one with, "I |
| Has anyone ever sued you for malpractice? | | | | didn't want to pay them," you'll be told by the person |
| Have you ever been reported for malpractice? | | | | you are talking to that they aren't accepting any new |
| Do you have references? May I have three? | | | | clients right now. It's a small community and |
| When you call the references ask them: (1)How that | | | | accountants call each other. |
| accountant works with them and (2) Whether or not | | | | Finding a good CPA and bookkeeper can be scary, so |
| they are satisfied with the service they are getting. | | | | use these simple tips to get yourself started. |
| Do I pay by the hour as I go along? | | | | |