Relying on online tools to handle accounts of your small business is a costly mistake. If you need an expert guidance, hiring an accountant is a smart decision.
You need to spend an extra penny to hire a trained and professional accountant to handle accounts for your business. But, believe us, this will be the smartest decision for the growth of your business.
Hiring an accountant is not a burdensome task, but choosing the right one for your business is very difficult.
Why to Hire an Accountant?
An experienced accountant can suggest you deeply with far-reaching applications. They can also advise you on how to save money on your tax return. But, getting an accountant is not as easy as Googling ‘accountant’ and selecting one.
You have to check a lot, chat with them and ask them several questions to choose the right one for your business. Before taking the decision, check out the 8 questions you should ask before hiring an accountant for your business financials.
- Do you have any experience working with a small business similar to mine?
Ask accountant about his experience in your type of business. All businesses have different issues and challenges. So, it is advisable to choose an accountant who is knowledgeable and expertise in dealing with the various issues of your industry. To test your account, ask them questions that are specifically related to your industry.
- What kind of accountant you are and what services do you provide?
All accountants are not the same and are not one-size fits all. Some pursue more education than others will offer a wide range of service than others. The one who has a degree is more experienced and knowledgeable than the one who prepares returns on a seasonal basis.
Most Certified Professional Accountants (CPA’s) offer a wide range of services than other accountants like monthly bookkeeping, taxes and audit representation etc. So, if you are looking for the one with multiple knowledge, a CPA is better than the accountant.
- How much do you charge?
A simple but the most important question to ask your accountant is how much their services are going to cost you. Some will charge on an hourly basis and some will charge on a monthly rate. Make sure you are well aware and clear about everything that is included in monthly billing option and the services meets your needs or not.
- What value you can add to my business to help it grow?
An accountant can add much value to your business than simply completing your annual tax returns. They are able to help you grow your business and can advise you with how to structure your company, provide assistance in running payroll as your business grows. Accountants now act as a strategic partner of businesses hence forming an alliance that helps reach the business to a new height.
- How often should we meet to discuss my taxes?
Face to face meetings with your accountant is the best way to communicate and discuss your business plan and tax-related issues. Clear and effective communication is the key to a successful client-owner relationship. Try to meet early meet with your accountant, you are not the only client of your accountant, so it’s best to quickly set the meeting with your accountant and clarify all your issues. This will help in reducing disappointment from both the sides.
- Can you represent me if I am audited by the IRS?
No one wants to get audited. But if you are the one who got audited by IRS, you must have proper representation. CPA’s are qualified enough to represent you during a tax audit. If you are thinking to go with the accountant, ask him how much tax audits they have participated in and how many of them were successful. You may never get audited, but having an experienced and knowledgeable person on your side will be a plus.
- Can you provide references with other clients?
When you are going to hire someone to handle your taxes, accounts, then it is advisable to check their references from their previous employer. An accountant is an essential member of the staff who remotely works for your company or business. Accountants will have a list of people whom you can contact who would be able to attest for their performance.
- What is the best way to contact you?
All accountants have their own preferred way of dealing with the clients. Most professionals use email or Skype services to be in contact with their clients. With various ways to communicate, you must know the best way to be in contact with your accountant. Are they available on Email, Phone call, teleconferencing or what are the options to contact your accountant? You should always be in touch with your accountant for your business.
A good communication is a key to getting the most out of your relationship with your accountant.
Whether you are a small business owner or in need of an accountant to handle your taxes, getting is the right one is a critical decision. Use these eight questions to hire the best accountant so you can feel that your business finances are in the right hands. Take your time and find the best match for your needs.
Aarif Habeeb is a content writer and an SEO expert in Jaipur. He is a Founder of an IT startup DigitalMarketingCrab – A Digital Marketing Company in Jaipur. He is responsible for brand-building via content and social media for his agency. His success lies within his originality and hands on experience in editing and writing. Aarif lives in Jaipur and loves his early morning filter coffee, dessert gazing and reading newspapers. Follow him on Twitter and LinkedIn.