Things to keep in mind when selecting a small business CPA firm

When you are looking to hire a Certified Public Assistant (CPA) firm for your small business you need to research a lot. It is always better to have a CPA firm rather than having an accountant. But you can be confused on who would be a better choice for you?

Here are a few things you need to consider when you want to select a CPA firm for your business:

Does the CPA firm specialize in small businesses?

A small business CPA firm is very likely to understand and address the challenges which you face in your business. They can easily tackle the challenges and problems which small business faces. The firm is also being efficient in serving your needs as its services, processes and operations are built to cater small businesses.

Does the firm has any clients in your industry?

A CPA firm which is serving small businesses in your industry is likely to be more familiar with the principles of accounting and tax laws. This will help you as he has more knowledge of your industry rather than someone who has clients in all industries. Having an industry experience makes the advisor an effective one and better decision maker.

Does the CPA firm offer services which you currently need or which you can need in the future?

As your business grows, you will need a firm which provides more than just accounting, tax and payroll services. You need a firm which can help you in making decisions for your business, will help you as a part-time CFO and also serve as a personal financial planner. Hire one who is a good fit for your present needs but also has the capability to serve you as you grow.

Who will actually serve your account?

A typical CPA firm has accounting staff from the most junior accountant to the senior firm partner. Their ranks are basically dependent on the expertise and the experience they have. You need to ask your firm about who will work on your engagement.

What fees will the firm charge?

Depending on the nature and scope of your engagement, the firm may quote you rates either on an hourly basis or on a flat fee. You can ask them questions about the services which they offer and why are they charging a particular fee for a particular service. You can also ask them if you can do anything to lower the fees.

Keeping the tips in mind will help you select a perfect small business CPA.

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