How to Hire a Great Accountant
Whether you’re launching a startup or are several years into a thriving business, hiring an accountant can help you budget your money and prepare for tax season. Your first step is to decide which business duties you want to keep and which you’d like to turn over to a pro. Once you’ve made your choices, follow these tips to hire the right accountant for the job.
1. Pick an accountant who has dual interests: your business and your personal life. Your accountant should help you finance your business’ next major purchase as well as your son’s college education.
2. Ask if the accountant will work with you to create a personal finance plan as well as a business plan. This should be the first step an accountant takes when working with a new client. If they’re hesitant to sit down with you for planning, consider that a red flag.
3. Find out if they’re knowledgeable about insurance. Quality accountants will be able to help you out with various business insurance matters.
4. Talk to the accountant about how they handle bookkeeping. Will they take it over entirely? Can they teach you how to keep your own records? A lot of this boils down to your personal preference, but make sure the accountant is adept at keeping records and that they’re flexible enough to let you keep your own books if you want to. Either way, the account should have a system that will help you assess profitability, keep track of expenses, and monitor your budget.
5. The right accountant will offer two kinds of tax services: compliance and planning. Not only will they help you limit the tax burden on both your business and your personal finances, but they’ll also make sure that you’re following tax law.
6. Ask your banker or attorney for a recommendation – they usually have the “in” on who the great accountants are.
7. As your state’s Society of Certified Public Accountants for a referral.
Don’t rely solely on DIY accounting software. Yes, it’s great for monitoring your budget throughout the year, but it’s not a good replacement for an actual accountant. Every dollar counts – don’t take risks with your hard earned money by trying to handle your taxes yourself. Research accounting firms in Hawaii to make sure a pro is in charge of your finances.
Category: Business
