July 29, 2019
Selecting a CPA firm is like choosing a mechanic — you want someone you trust implicitly. Both professions can save or cost you thousands of dollars.
Anyone can be a paid tax return preparer as long as they have an IRS Preparer Tax Identification Number (PTIN). They do not have to be a CPA or have any other designations. Keep in mind, tax return preparers have differing levels of skills, education and expertise.
If you really want to do your homework on prospective CPA firms, the IRS has a directory that allows you to search and filter. They also offer a great list of 10 tips for choosing a tax preparer.
You should interview potential accountants just like you would hire an employee. Have a list of questions when you meet, and make them tough. Here are a few ideas:
You want a CPA who is actively working for your business. After all, you’re paying their fees like you would an employee — so make them earn it!
A great CPA firm will sit down with a business owner at least quarterly — if not monthly — to review financials. This important time with an accountant allows business owners to develop a good framework for future decisions.
BOSS is the answer to your back office headaches. Our cloud-based solution enables you to hand complex accounting tasks over to us. We work the numbers while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.
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If you have retirement on your mind, the big question is this: Are you in a financial position to do so? While nothing replaces the advice of a seasoned advisor, you can take your first step to answering this question by applying a simple 5-step calculation.
It could be that QuickBooks is still the best choice for you. It’s an excellent product and many owners use it successfully.
But it’s definitely worth a conversation with your accountant. Ask what other solutions on the market might better align with your business structure.
If you’re not a fan of Black Friday chaos—you know…the crowds, the rush, the relentless search for a parking space—then ditch the onsite shopping this year while still enjoying the sweet deals.