Running your own small business typically means you play many different roles in the business. Often, small business owners will even try to handle their own taxes at first in an attempt to keep costs low. There are some great software available that can help someone with no accounting experience or education to do a decent job of managing taxes and money for a small business, but eventually, there comes a point when it is better to turn everything over to a professional.
Knowing when the right time to hire and accounting firm and what to look for can be a challenge. The right accountant can be key, not only in handling taxes, but also for long-term planning, business planning, and personal taxes. You will want to find an accounting firm with the right experience that you can trust for the best financial future of your business.
Determine What You Need
A good first step in choosing the right accounting firm is to decide what is that you really need help with. Some small businesses have so few financial transactions that it does not make sense to hire a full-time or even part-time accountant. On the other hand, being able to have access to an experienced CPA, who could provide financial review and planning on a more regular basis could make a big difference.
Ask for Recommendations
In many cases, you may be much closer to finding an accountant who is a good fit for your situation than you know. Start by networking with friends, family, and colleagues. Find out which tax professionals they turn to when they are in need of accounting advice. It never hurts to consult with others who work in your same field. When you do ask, be sure to ask specific questions such as how they have helped save them money. This will help you narrow down your choices. Your future accountant might just end up being a simple introduction away.
What Questions to Ask
Once you do come in contact with accounting firms, be sure you are ready with some questions as you interview them. Here are few suggestions of questions you might want to ask:
- How have you helped others in my line of work?
- What creative business advice can you offer me?
- Which strategies do you have in place to ensure you are on the forefront of technology?
- What other clients do you handle now or have handled in the past?
- How active are you in your local business community?
Some businesses may grow to a point where it becomes more feasible to hire an inside accountant as an employee. For many small businesses, however, this is not an option. They simply need an outside accounting firm, such as Hacker Accounting, to help them when they need it.
If you are trying to decide if you need the help of an experienced and business savvy accounting firm, feel free to give Hacker Accounting a call at 602-375-5251. We are happy to answer any questions you have and give you an idea of how we can help your business.