Hiring the right and best CPA is a very important decision because the right one can help you reduce your taxes and increase your cash flow. Every time you have to change CPAs is time that you have to take away from successfully running your business. Kiplinger conducted a study that had a number of CPAs prepare the same tax returns in Phoenix, AZ. In every case the tax refund or tax due was significantly different depending on the CPA firm preparation.
You contact your CPA for advice. Good advice can result in significant increases in you and your business cash flow. Bad advice can result in negative impact to you and your businesses cash flow. Communicating well with your CPA and being on the €same page€ as your CPA is very important. In this article, you will find valuable help in hiring the right one that is a €good fit€ for you.
You will know when you find a very good CPA that is a good fit for you when the right CPA for you:
1. Always looks for better ways to reduce your taxes, reduce your chances of IRS audit and has a proven history of improving business cash flow. Ask the CPA to give you examples of how he was able to achieve these benefits. Better yet, have him review and comment on the tax returns and financial statements prepared by the previous CPA firm.
2. Works with many businesses of the same size and industry as your business. Ask questions that demonstrate that he understands your business. Do not take the CPAs word for it that he is a specialist in your business industry (i.e. restaurants, law firms, dental offices, medical officers, service firms).
3. Focus on getting a positive return on a client's investment. A good one should save clients' money over and above his fees.
4. Asks questions and listens more than talking and understands your needs. When the CPA just talks about himself, you can expect that his interest will be self-centered instead of client centered.
5. Demonstrates a willingness to understand what is important to a prospective client like you. For example, a good one will find out when and when a client does not want to be contacted and for what reasons. For example, a doctor may not want to be contacted between 1-5 PM when he is performing surgery or meeting with patients.
6. Makes sure a client is not unpleasantly surprised by fees charged. For example, the client might think that a certain project will cost only $200 while he is thinking $1,200. A good one communicates and documents fees clearly in advance.
7. Will give you his cell phone and will be available evenings and weekends to answer your questions.
8. Can give you a list of tax and financial statements classes he and his staff have taken. When the he gives you this list, you should ask why he decided to invest time in these classes.
9. Is emotionally mature, is ethical and possesses sound judgment. Everyone makes a mistake because all humans make mistakes. The difference between a good and bad one is that a good one discloses when a mistake was made and takes the time to avoid making the same mistake again by analyzing how the mistake occurred.
10. Realizes that he must work over 40 hours per week because of the ethical responsibility to improve his education. Although only 80 hours every two years is required to renew his license, a good one
11. Invests in education without compensation in 160 hours of self-improvement in his specialization every two years.
12. 20 years or more experience will mean that he is serious about his profession and has most likely had experience with your specific situation.
Selecting the best CPA professional is critical to your success. Please make sure to take the time to review and act on these 12 useful points before hiring an accounting firm in Phoenix.
You contact your CPA for advice. Good advice can result in significant increases in you and your business cash flow. Bad advice can result in negative impact to you and your businesses cash flow. Communicating well with your CPA and being on the €same page€ as your CPA is very important. In this article, you will find valuable help in hiring the right one that is a €good fit€ for you.
You will know when you find a very good CPA that is a good fit for you when the right CPA for you:
1. Always looks for better ways to reduce your taxes, reduce your chances of IRS audit and has a proven history of improving business cash flow. Ask the CPA to give you examples of how he was able to achieve these benefits. Better yet, have him review and comment on the tax returns and financial statements prepared by the previous CPA firm.
2. Works with many businesses of the same size and industry as your business. Ask questions that demonstrate that he understands your business. Do not take the CPAs word for it that he is a specialist in your business industry (i.e. restaurants, law firms, dental offices, medical officers, service firms).
3. Focus on getting a positive return on a client's investment. A good one should save clients' money over and above his fees.
4. Asks questions and listens more than talking and understands your needs. When the CPA just talks about himself, you can expect that his interest will be self-centered instead of client centered.
5. Demonstrates a willingness to understand what is important to a prospective client like you. For example, a good one will find out when and when a client does not want to be contacted and for what reasons. For example, a doctor may not want to be contacted between 1-5 PM when he is performing surgery or meeting with patients.
6. Makes sure a client is not unpleasantly surprised by fees charged. For example, the client might think that a certain project will cost only $200 while he is thinking $1,200. A good one communicates and documents fees clearly in advance.
7. Will give you his cell phone and will be available evenings and weekends to answer your questions.
8. Can give you a list of tax and financial statements classes he and his staff have taken. When the he gives you this list, you should ask why he decided to invest time in these classes.
9. Is emotionally mature, is ethical and possesses sound judgment. Everyone makes a mistake because all humans make mistakes. The difference between a good and bad one is that a good one discloses when a mistake was made and takes the time to avoid making the same mistake again by analyzing how the mistake occurred.
10. Realizes that he must work over 40 hours per week because of the ethical responsibility to improve his education. Although only 80 hours every two years is required to renew his license, a good one
11. Invests in education without compensation in 160 hours of self-improvement in his specialization every two years.
12. 20 years or more experience will mean that he is serious about his profession and has most likely had experience with your specific situation.
Selecting the best CPA professional is critical to your success. Please make sure to take the time to review and act on these 12 useful points before hiring an accounting firm in Phoenix.
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