Ask These Five Questions to Your Prospective CPA Firm

Selecting a CPA firm for your business can be a tough call. After all, you are hiring someone to manage your accounts and financials, and it is important to have a certain level of trust and transparency. The first obvious step is to make a list of the known CPA firms in your area. You need to find firms that have worked with clients that have similar business as yours. Of course, you need to take an appointment, because a few questions must be asked in person. Here is a list of the questions you should ask while looking for a CPA firm.

1. Will you talk about your previous and current clients? As a prospective client, you have every right to know about the experience of the concerned CPA firm, and what can be a better way to judge that aspect than knowing their clients? CPA firms don’t shy away from discussing their work, and you can also get client references on request.

2. How do you charge? If you are looking for an accounting service that deals with tax preparation for small businesses, you need to know if you can afford them in the first place. Some firms like to have a fixed yearly charge, while others may charge a monthly price. It all depends and is determined by the work they do for you. However, do not settle for a service, just because they are offering an insane discount. When it comes to tax preparation and accounting, nothing matters more than experience.

3. What do you provide? CPA firms do a lot more than clients know. Apart from tax preparation, IRS representation and accounting, they might be involved in complicated audit matters and even business consulting. Again, every company is different, so you cannot really compare firms in this regard. However, as a rule of thumb, choose a firm that has a big team that can deal with most financial matters related to your business.

4. What’s your approach to the work? Accounting and tax preparation are complicated matters, and every other firm may have a different approach to the job. You need to know if they are available to take up the work because many CPA firms are just too busy to answer your queries. You need to know how they are managing their work and the guiding philosophy of their business in general.

5. Are you available throughout the year? If you are relying on the accounting firm for a number of things, you must have the assurance that they are available all through the year. They must offer inputs on investment matters and financial decisions so that your business can avoid some of the common accounting mistakes. Also, they must be around to take and suggest inputs on the entire accounting process, so as to ensure transparency.

Check online now to know more on CPA firms, and once you have found the right service, do take a moment to understand the terms and conditions of their services.