There are currently more than 600,000 certified public accountants (also known as CPAs) working in the United States.
Are you considering hiring a CPA for your business? Clearly, there are plenty for you to choose from. They’re not all created equal, though.
If you’re looking to hire a qualified, experienced CPA to handle your business’s financial and taxation needs, keep reading.
Listed below are some of the most important qualities you ought to look for when you’re hiring a CPA firm for your business.
Why Hire a CPA Firm?
If you’re running a small business, or if you’re working with a tight budget, you might be wondering whether it’s a smart move for you to hire a CPA firm.
The short answer is that, yes, it is. Just about any business can benefit from working with a CPA.
The following are some of the greatest benefits you’ll experience:
Improved Finances
When you have a CPA on your site, you’ll also certainly see an improvement to your business finances.
CPAs can help you to make sure you’re handling your funds efficiently, and they’ll make sure that you’re not overspending in a particular area (or areas).
They can also help you to boost your business credit score and generally get your business into a better financial situation.
Save Time
CPAs are experts in accounting and taxation matters.
There’s no denying it — they can get things done much faster than you can. They’re also more likely to get things done correctly the first time around.
If you’ve been trying to handle your business’s accounting needs all on your own, you’re probably wasting a lot of time.
Why not let a professional handle these matters so you have more time to focus on other parts of your business?
Manage Complex Tasks
The country’s recent tax changes threw business owners and individuals for a loop.
If you’ve been struggling to keep up with these changes and are worried that you’re not handling your taxes correctly, a CPA will be your best friend.
CPAs can help you manage complicated matters and handle changes to tax laws and regulations with ease.
What to Look for in a CPA Firm
There are plenty of reasons to hire a CPA firm to help with your business’s tax and accounting needs. How do you know that you’re hiring the right firm, though?
The following are five essential qualities to look for in your CPA firm:
1. Credentials
One of the most important things you need to consider when you’re looking to hire a CPA firm is to consider the CPA’s credentials.
At the bare minimum, a CPA ought to have the following qualifications:
- Hold a bachelor’s degree
- Achieve a passing score on the Uniform CPA Exam
- Gain field experience while working under a licensed CPA’s supervision
Start by making sure the CPA you’re considering has met these requirements.
Don’t stop there, though. Think about other important qualifications, such as tech-savviness and experience working with business owners who are part of a specific industry.
2. Industry-Specific Knowledge and Experience
Speaking of specific industries, it’s best to find a CPA who has worked with other people who run businesses like yours.
If they have industry-specific knowledge and experience, they’re going to have an easier time providing you with business advice and making sure you get the most out of their services.
It’s okay if not all of their clients are business owners like you.
At the same time, though, it’s helpful if they at least have some experience handling accounting and taxation matters that are relevant to your business’s unique needs.
3. Financial Analysis Services
Ideally, the CPA you hire will offer financial analysis and budget analysis as part of their services.
A CPA who offers these services will review your business’s overall financial health.
Look for a CPA who will help you to understand key financial health indicators, including the following:
- Gross profit margin
- Net profit
- Aging accounts receivable
- Operating cash flow
- Working capital
- Debt-to-equity ratio
A CPA who offers financial analysis will provide you with relevant information and will help you to make the best financial decisions for your business.
4. Continuing Education
It’s important that your CPA has attained the necessary education and knowledge to pass their exam and receive their license. They need to prioritize continuing education, too, though.
Tax laws are changing all the time, and you need a CPA who makes it a priority to stay on top of those changes.
Steer clear of a CPA who doesn’t invest in regular continuing education courses.
This is a sign that they don’t take their job as seriously as they should. It’s also an indicator that they might not be able to provide your business with the accurate, up-to-date accounting advice it needs.
5. Easy Access
Finally, consider how easy it is for you to get in contact with the CPA firm you’re considering hiring.
You should be able to get in touch with your CPA very easily. They ought to respond to phone messages and emails right away, even during business seasons.
Ideally, they’ll get back to you the same day you reach out to them, if not the next day.
If you’re considering a particular CPA firm but they seem impossible to reach, that’s a big red flag. Look for one that responds to messages promptly and in a professional manner.
Hire a CPA Firm Today
Having a CPA on your side can help you save money, save time, and get clear answers to all your business tax and finance questions.
Now that you know more about the benefits of hiring a CPA firm and what to look for when you begin your search, you’ll have a much easier time finding a qualified professional to help you manage your business finances.
Are you ready to hire a CPA for your business? If so, contact us today for a free consultation.
We offer a wide range of accounting services throughout the country. We’re currently serving clients in Florida, New York, Maryland, Utah, and Washington, D.C.
There are currently more than 600,000 certified public accountants (also known as CPAs) working in the United States.
Are you considering hiring a CPA for your business? Clearly, there are plenty for you to choose from. They’re not all created equal, though.
If you’re looking to hire a qualified, experienced CPA to handle your business’s financial and taxation needs, keep reading.
Listed below are some of the most important qualities you ought to look for when you’re hiring a CPA firm for your business.
Why Hire a CPA Firm?
If you’re running a small business, or if you’re working with a tight budget, you might be wondering whether it’s a smart move for you to hire a CPA firm.
The short answer is that, yes, it is. Just about any business can benefit from working with a CPA.
The following are some of the greatest benefits you’ll experience:
Improved Finances
When you have a CPA on your site, you’ll also certainly see an improvement to your business finances.
CPAs can help you to make sure you’re handling your funds efficiently, and they’ll make sure that you’re not overspending in a particular area (or areas).
They can also help you to boost your business credit score and generally get your business into a better financial situation.
Save Time
CPAs are experts in accounting and taxation matters.
There’s no denying it — they can get things done much faster than you can. They’re also more likely to get things done correctly the first time around.
If you’ve been trying to handle your business’s accounting needs all on your own, you’re probably wasting a lot of time.
Why not let a professional handle these matters so you have more time to focus on other parts of your business?
Manage Complex Tasks
The country’s recent tax changes threw business owners and individuals for a loop.
If you’ve been struggling to keep up with these changes and are worried that you’re not handling your taxes correctly, a CPA will be your best friend.
CPAs can help you manage complicated matters and handle changes to tax laws and regulations with ease.
What to Look for in a CPA Firm
There are plenty of reasons to hire a CPA firm to help with your business’s tax and accounting needs. How do you know that you’re hiring the right firm, though?
The following are five essential qualities to look for in your CPA firm:
1. Credentials
One of the most important things you need to consider when you’re looking to hire a CPA firm is to consider the CPA’s credentials.
At the bare minimum, a CPA ought to have the following qualifications:
- Hold a bachelor’s degree
- Achieve a passing score on the Uniform CPA Exam
- Gain field experience while working under a licensed CPA’s supervision
Start by making sure the CPA you’re considering has met these requirements.
Don’t stop there, though. Think about other important qualifications, such as tech-savviness and experience working with business owners who are part of a specific industry.
2. Industry-Specific Knowledge and Experience
Speaking of specific industries, it’s best to find a CPA who has worked with other people who run businesses like yours.
If they have industry-specific knowledge and experience, they’re going to have an easier time providing you with business advice and making sure you get the most out of their services.
It’s okay if not all of their clients are business owners like you.
At the same time, though, it’s helpful if they at least have some experience handling accounting and taxation matters that are relevant to your business’s unique needs.
3. Financial Analysis Services
Ideally, the CPA you hire will offer financial analysis and budget analysis as part of their services.
A CPA who offers these services will review your business’s overall financial health.
Look for a CPA who will help you to understand key financial health indicators, including the following:
- Gross profit margin
- Net profit
- Aging accounts receivable
- Operating cash flow
- Working capital
- Debt-to-equity ratio
A CPA who offers financial analysis will provide you with relevant information and will help you to make the best financial decisions for your business.
4. Continuing Education
It’s important that your CPA has attained the necessary education and knowledge to pass their exam and receive their license. They need to prioritize continuing education, too, though.
Tax laws are changing all the time, and you need a CPA who makes it a priority to stay on top of those changes.
Steer clear of a CPA who doesn’t invest in regular continuing education courses.
This is a sign that they don’t take their job as seriously as they should. It’s also an indicator that they might not be able to provide your business with the accurate, up-to-date accounting advice it needs.
5. Easy Access
Finally, consider how easy it is for you to get in contact with the CPA firm you’re considering hiring.
You should be able to get in touch with your CPA very easily. They ought to respond to phone messages and emails right away, even during business seasons.
Ideally, they’ll get back to you the same day you reach out to them, if not the next day.
If you’re considering a particular CPA firm but they seem impossible to reach, that’s a big red flag. Look for one that responds to messages promptly and in a professional manner.
Hire a CPA Firm Today
Having a CPA on your side can help you save money, save time, and get clear answers to all your business tax and finance questions.
Now that you know more about the benefits of hiring a CPA firm and what to look for when you begin your search, you’ll have a much easier time finding a qualified professional to help you manage your business finances.
Are you ready to hire a CPA for your business? If so, contact us today for a free consultation.
We offer a wide range of accounting services throughout the country. We’re currently serving clients in Florida, New York, Maryland, Utah, and Washington, D.C.
