Have you ever met anyone besides Uncle Sam who is excited for tax season or their preparation of them? The word taxes or worse yet, having to prepare them conjures up many negative thoughts.
As a small business owner, you may attempt to do this venture on your own to save money. Even with the latest accounting apps, it can still be quite confusing. Although it’s easy to overlook the importance of an accountant when it comes to your business, we all know taxes are not something we want to ever be incorrect. Both new and seasoned small business owners will admit that the right accountant can save your business thousands of dollars and help you avoid costly legal and tax mistakes.
When you decide you need assistance in preparing and filing your taxes, finding the right accountant will definitely be a huge advantage to your business. The next question is how do you find the right one? Every accountant has different specialties, interests, and qualifications.
There are certain questions you will need to ask to find the right small business accountant.
Are they certified?
A Certified Public Accountant (CPA) is an accountant who has undergone state licensure requirements, including a multi-day CPA exam as well as professional experience and ongoing educational requirements. Although accountants can complete basic accounting tasks and be highly skilled in their field, there are some distinct advantages to hiring a CPA.
A CPA is well-versed in the continuously changing tax law and, if specialized, industry-specific requirements — something important to small businesses. Additionally, a CPA will offer strategic advice to help move your business in the right direction. Most importantly, a CPA is the only one who would be eligible to represent you with the IRS, if the case ever arose.
While a CPA may cost a little more, but many small business owners find it to be well worth it.
What type of experience do they have?
You will want to find an accountant or CPA with the right experience to manage your business financials and handle your tax preparation. Review their specialties and try to find one that has experience in your type of business as well as the size of it.
Have they been recommended?
The first place most small business owners search for an accountant is the internet. This can be overwhelming as you will come up with a longer list. A better way to start your search is to ask fellow professionals and business owners for a recommendation.
Be sure to also ask your potential candidates for references and check their reviews.
Will they be available to you?
You will want to try and find out if your candidate will have open communication and be accessible. Good business relationships will allow for open communication which means being available to you or your employees.
Although this may be hard to determine before you decide to hire them, you will get a feel for their communication habits with the timeliness of their phone calls and email responses. The content and quality of conversation should also give you a feel that they are the right fit for your business.
Heemer-Klein specializes in your small business taxes and we know what information and advice to provide you with. Small Business LLC and the S Corporation election can be quite tricky when it comes to the conversion process. In fact, they are more complex than your personal tax returns. It is important for your business to ensure that your tax-saving strategies are optimized. Our business tax and accounting experts can provide you with the best possible outcome during tax season.
Call Heemer-Klein today at 586-209-3738 or reach out to us on the contact form on our website to discuss your business needs and schedule your free initial consultation!