The top questions you should be asking your CPA

If you think that you don’t need to hire a CPA for your business, think again. Hiring a CPA is a necessity and is well worth the extra expenditure. A CPA can help save your business thousands of dollars and help you avoid potential problems with the IRS. A good business accountant can help to explain the different ways that you can structure your business and choose the one that’s right for your situation. If you happen to get audited by the IRS, your CPA can help guide you through the process.

There are some important questions to ask your CPA candidates to determine the best fit for both you and your business. Ask for a list of all of their services. Most CPA’s provide a range of services from helping with your monthly bookkeeping, to payroll processing and taxes, to audit and tax representation.

Obtain referrals from other clients as well as other business owners with whom you may network. You’ll want to know how much time potential candidates have spent in the field of business accounting and about the type of clients that they work with to ensure that the CPA you choose to hire has a good understanding about your type of business.

It’s important to find a CPA that’s available all year round vs just for tax season because issues that need to be addressed by your CPA are bound to arise during other times of the year.

And, it’s a good idea to hire a CPA who is friendly and outgoing and values teamwork because he or she will be working closely with you or other employees to make a positive contribution to the success of your business.

The right answers

Other questions to ask your CPA should cover the following:

  • What fees do you charge? Do you bill on an hourly or monthly basis?
  • Can you represent me in all of the states in which I do business?
  • What type of communication do you use with your clients?
  • Can you represent me in an IRS audit?
  • How often will you communicate with me about taxes and tax issues?
  • How often should we meet to discuss business taxes?

By asking the right questions of the CPA’s that you interview, you’ll end up with a lot of good information that will help you make the right decision when it comes to hiring a CPA for your business.

The right people

At GYL, we are client-focused and proactive.  We have put together a team of some of the top CPA’s in Orange County who have years of accounting and business experience that they put to work in order to provide you with the highest level of personalized service possible.

The GYL team is committed to going the extra mile to getting your questions answered about money management, long-term financial goals, tax planning opportunities, and other accounting practices.  

Schedule your free consultation today.