Finding the Best : Selecting the right CPA can make a huge difference for you and your organization in more ways than just the obvious one keeping more of your money in your pocket and not Uncle Sam’s.
Avoid costly audits. Make sure your tax planning is sound and accurate, Don’t cut corners on your tax accounting services, they will save you money in the long run. A professional tax service will likely ensure you have a good financial tax liability analysis done. This makes smart business sense, and will help you make smart business decisions based on solid accounting principles.
Although it will be tempting to hire the cheapest professional tax service you can find; instead hire the best to suit your budget. You will want capable, seasoned tax accountants that keep up with constantly changing legislation to ensure your businesses best interests are represented. A good tax accounting service will save you a great deal of many of the course of the years.
Here are a few tips to consider when choosing a small business CPA for our business:
*Seek advice from with other companies that have similar but are not in direct competition with you. Ask if they are happy with their tax and accounting advice, and what factors they think are most significant.
*One very important question to ask is how the firm handles client audits. Do they cover the expense of an audit, or is passed on as an additional cost to you. If it comes with an additional charge, get a clear picture of these fees. Ask the firm just how many audits they have dealt with and what were the final results If not, what is their fee schedule for this service? How many they have performed? What is their success rate? How many of their customers have gone to prison? Kidding here!
*Try and get a concept of what vertical business markets they perhaps serve. A large wholesale distributor business is going to have different tax advice needs than say a dog groomer or a Realtor.
*Timeliness and organization. Ask your prospective tax planning specialist how early they need to receive all your documents and receipts in order to file your forms without the need for an extension. How do they prefer to receive these documents from you. If you show up with a shoebox full of receipts, you will probably have that a tax professional will take a good deal longer to go through all the paperwork than if you provided them a well organized set of documents.
*Education – Ask about their continuing education process. Tax laws change often and keeping abreast of these changes and how they will impact your business is extremely important. This is an important question to ask If you want to make sure your accountants make sure you take advantage of every write-off available to you.