What To Look For When Hiring An Accountant

January 25, 2021

“The hardest thing in the world to understand is the income tax.” – Albert Einstein

Taxes are a necessary part of any business, which is why the right accountant and/or CPA is so important. Sure, you can take care of your business’s financials and taxes, but can you ensure that you are filing them correctly or getting the breaks you deserve? An accountant and/or CPA not only provides help with tax minimization, but they stay apprised of the latest tax laws.

A few things accountants/CPA’s can help you with:

  • filing compliance documents
  • creating inventory strategies
  • organizing stock allocation
  • making lease-or-buy decisions
  • responding to audits
  • preparing annual statements
  • optimizing key business metrics

So what should you look for in an account/CPA? Here are the top three things we recommend looking for when hiring an accountant/CPA:

Hire a CPA (Certified Public Accountant) not just an accountant

CPA’s are different from accountants, as they are recognized by the government as someone who is credible and an expert in the field. As an expert in their field, they have a deep understanding of the tax laws in their state and are able to act as a taxpayer or company representative in discussion with IRS Revenue Officers or Counsel (if needed and/or audited by the IRS). You’re going to want someone who can act on your behalf if you are ever audited by the IRS.

Make sure they are members of associations

This may not sound like an important thing, but hiring a CPA that is a member of associations makes a difference. When a CPA is a member of an association(s), they are ensuring that they stay up-to-date on the latest IRS / tax changes. It also provides them with a way of getting tips and up-to-date information regarding education requirements for the accounting industry.

Setup periodic appointments to plan and strategize

A CPA isn’t going to want to just meet with you at the end of a fiscal year, they are going to want to setup a few meeting times during the year to access where you are financially. By planning and strategizing based on where you are financially in your business, you are able to make adjustments to the reserve you are setting aside to pay quarterly and yearly taxes.

Here are a few additional questions you can ask in order to make sure you are hiring the right CPA:

  1. What kinds of suggestions have you made for other clients that have helped them make better financial decisions?
  2. What kinds of challenging business situations have you helped business owners turn around?
  3. What basic steps do you take in order to ensure that a business owner is less likely to be audited?

By looking for these requirements and asking the right questions, you’ll be on your way to finding the right CPA for your lawn and landscaping business!

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