Business Questions for a CPA

 Getting Started

New business owners are often times on top of the world with excitement… and that’s good! At this point, it seems there’s a new adventure around every corner and networking takes on a whole new meaning. There’s a lot of work to be done, such as marketing your business, maintaining the books (like with Xero), hiring employees, signing up for health insurance, holding important meetings, attending helpful seminars, conducting research, and on and on it goes. It can be easy to put off one of the most important attributes of a healthy business: cash flow and finances. Check out these essential questions every entrepreneur should be asking their CPA.

By what means do you communicate?

Before forming a business relationship with a CPA, it’s good to know how they prefer to communicate. Email, Skype, or other online platforms are common these days. However, there are still some firms out there who feel more comfortable dealing in person and on the phone for security purposes. If your CPA is even a state away from you, that could put a real strain on the health of your business. Be sure to plan these type of connections first.

What type of experience do you have?

This is always a good question to ask if you are a serious and dedicated business owner. Knowing that your CPA has successfully helped, maintained, and guided-along a business similar or identical to your industry will make for a better nights sleep. You’ll know you’re in the hands of not only an experienced professional, but one who has seen the same trials and tribulations of a trade such as yours.

Will you represent me through an audit?

Nobody likes the hear the word “audit,” but the truth is, anyone can get audited at any given time! It’s important to make sure your CPA will feel comfortable sitting in the “hot-seat” and answering important financial questions with a keen mind and solid communication skills. It’s also worth asking if your CPA is able to do this across state lines.

How do you keep up with changing laws and tax codes?

Passing the official CPA test is only the beginning of the CPA practice. A dedicated and educated CPA will be sure to remain that way throughout his or her career. Laws and tax codes change yearly, so making sure your CPA is actively staying in touch with IRS related websites and other significant sources like your state’s Tax and Accounting boards is crucial. Also, ask how often your CPA updates their accounting software, as it gets new additions and a number of changes annually.  

If you’re in search of a dedicated and educated CPA, you’re in the right place. Check out thedigitalCPA website for all the information you’ll need to feel comfortable and confident that you’ll get the very best with us!