Tuesday, January 17, 2017

How to find a great CPA

After moving my business several times, I've had a lot of experience looking for a CPA to help with my business and personal filing, and whenever I found a great one, it often took me a while before I was willing to move on and find another one in my new state after moving.  Hopefully sharing this wisdom will help speed up your search!

1. Start Searching Locally
The importance of having a CPA you can sit face to face with is very important if you ever need to work on a complicated tax situation or work through an audit together.  Likewise, the ability to enjoy working with your CPA is huge when it comes to something that may be stressful or difficult.  All of my favorite CPAs have a sense of humor and lightness about difficult tax situations that have helped ease my concerns, while still remaining professional and demonstrating that they will get the job done.  You only get to see this lighthearted but professional approach by meeting in person.
- Personal Referrals: 
The best places to begin your search are with personal recommendations from other small business owners.  Even better if they have a similar business model to you and can share what they love about working with their CPA and how long they've been with them.
- Local Chamber of Commerce Website:
Next best place to search is your local Chamber of Commerce website, where they will likely have a directory of CPAs looking for business.  The people who work for the Chamber can tell you if they know the CPA personally or anyone who has worked with them as well for additional referral information.
- Business Networking Group: 
Third best place to search is a local business networking group - BNI is one of the more famous ones, but ask around and see what is available in your area.  Rotary may be the second most common networking group for business owners, while it has more of a philanthropy mission than a networking one, it's a group of people who believe in giving back to the community.

2. Define Your Tax Situation
Being able to describe your tax situation will help you with the phone screening process before setting up a meeting.  For example, here are a few ways you may want to practice describing your tax situation over the phone before deciding who you'd like to meet with in person:
- Personal Tax Situation:
Married?  Single?  Dependents?  Live-in parents?  Investments?  Multiple homes?  Personal property in multiple countries?  Inheritance?  Haven't paid taxes in 10 years and may need a payment plan?  Need to figure out if it's better to file separately or jointly with spouse?
- Business Tax Situation:
LLC?  Sole-Proprietor?  Corp?  Employees?  Health Benefits?  Online business?  Out of country sales  to manage?  Import/export business?  State to state sales tax transactions?

3. Create a List of 3-5 Places to Call
If making phone calls is scary to you because you prefer email - I suggest practicing the questions you'll be asking on the phone and preparing your statement about your situation.  A phone call can really help you rule out a company you don't want to meet with.  Was it easy to get the answers you needed in a timely way?  Were they sloppy and unprofessional in how they managed your phone call?  Do they have an office with multiple people and an admin to help them manage their clients?  You don't get to learn these things when emailing- only when calling on the phone.
Things you need to ask:
- Do you have a Certified Public Accountant in your office?  Will they be handling the return, or will it be a tax preparer?  Who would I be meeting with for the first time?
- Do you have experience with clients in my situation?  (State the personal and business situations you have.)
- When can I come in and speak with someone in person?  What should I bring with me?  Is there any fee for an introductory meeting?  What would someone with my situation expect to pay for their tax filings?

4. Meet at Least Two Different CPAs
If you only meet with one, you'll have nothing to compare the experience to.  If you only have time to meet with two about your situation, than meet with two.  If you can meet with three or more, great!  The more info you have, the more you can find the right person to work with.  Remember that investing more time into this choice up front means that you're less likely to need to invest that time again later because you'll feel comfortable knowing you made the best choice for you and your situation.  A great CPA relationship can be one you can carry well into the future of your business, so it's worth every bit of time you invest up front to find someone you enjoy working with and feel you can trust.

Anne Ruthmann is a professional photographer in New York City. She has been a small business owner since 2004 working as a photographer in weddings, portraits, editorial, and now architecture and interiors. She spends any extra time she has helping others find smart solutions to business problems. Stay in touch on Instagram, Twitter or Facebook.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...