DFW Small Business Owners, Are You Choosing The Right Tax Professional for You?

People with small businesses usually depend a lot on their accountants for advice.

When you have a qualified accountant on your team, stuff like maintaining your books, planning for taxes, and meeting important deadlines all become much easier. (Are You Choosing the Best Ft. Worth Tax Professional for You?)

These tips below will help you find the right accountant for your small business. 

How To Select The Best Accountant For You

1. Make finding an accountant one of the very first things that you do when starting your business. Working with an accountant during the startup phase is the best way to ensure that your company is in compliance in terms of taxes. Your accountant can also help you manage any expenses related to getting your company up and running.

2. Choose someone who is qualified. In order to become members of these organizations, accountants have to prove that they are qualified.

3. Look for an accountant who is familiar with your industry. An accountant who has experience working with other small businesses in fields similar to your own can usually do a better job of providing you with knowledgeable advice. For instance, if you are a freelancer, you should avoid hiring a general accountant. Instead, look for someone who specializes in situations like yours. 

Fees, Fees, Fees

4. Evaluate the fees. When hiring an accountant, take a look at the specific fees that they charge and how those fees are calculated. Some companies charge a flat rate on a monthly or annual basis. Find out if there are any start-up fees or fees if you close your account. Discuss extra charges for services that aren’t included in the typical workload of the accountant.

5. Consider the services that the company offers. All accountants offer standard services like managing payroll, handling annual accounts for limited companies. Look at some of the specialized services that they offer, as well. For instance, will they help you with your self-assessment returns or do they offer financial planning services? 

Compare the offers you receive

6. Compare multiple accountants before deciding who to hire. Reaching out to more than one firm gives you a chance to get a sense of how each company treats its clients. When you first contact them, pay attention to how they treat you. These initial meetings, calls, or discussions will allow you to get a sense of which accounting firm is the best fit for your needs.

7. Think about going with a small accounting firm. Often, small companies are better equipped to work with small businesses than larger accounting firms since they are more agile.

8. Ask the accountant for references before agreeing to work with them.

9. Based on our past experience, some of the most common issues that come up with accountants have to do with communication. Whether that means that the accountant and the client aren’t communicating effectively or the accountant doesn’t have a consistent channel to the IRS, the results are less than desirable.

Going with a company that uses the latest technology is a good way to avoid communication problems. Companies that operate at least partially online usually are technologically aware enough to keep up with modern-day communication methods.

10. Have a trusted accountant on hand if you decide to sell your company. Activities like selling a company or purchasing a new business always require the advice and input of a knowledgeable accountant.

If you want to find a really great accountant, try talking to other small business owners that you know. Personal recommendations from business owners that you trust are one of the best ways to find a good accounting firm. 

Call Scott A. Kunkel, CPA PC today in North Richland Hills at 817-498-1040 to have a chat about ways to save money on your taxes.

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Source: Business Matters