Questions to ask a CPA

“I set up a meeting with a CPA. What should I be asking them?”

Many times, we don’t know what we don’t know when it comes to taxes, or interacting with various financial professionals for that matter.

Accountants, also known as Certified Public Accountants or Enrolled Agents, are an important part of your financial team (once you start building one). They can help keep you in compliance (avoiding trouble with the IRS and state), help reduce your taxable income through tax planning (pay less in taxes!), and file your taxes for you.

If you decide to meet with one, here are some great questions to ask before hiring them:

1. Are you taking on new clients?

   This may sound silly if they’ve agreed to meet with you - of course they’re taking on new clients! But if you’re calling around, save yourself some energy and ask this question first.

2. On average, how long does it take you to respond to clients when they reach out (via email or phone) with a question?
   This is great information for you so your expectations are accurate once you begin working with the accountant. If you’re hoping for responses within a few days, and the accountant usually takes more than a week, they may not be the best fit for you. However, it’s important to remember that any accountant during tax season (April & October) will take longer to get a response from, and time sensitive questions should be asked in advance of or after those deadlines.

3. What services do they offer?
   Accountants work in many different areas, like small business consulting, tax planning, tax preparation, corporate auditing, or audit assistance (IRS / State), compliance support, and payroll support. Some accountants offer many services, and some only offer niche services. Some accountants do not offer filing taxes for you at all! So find out what they offer and be clear what you’re looking for.

4. What types of clients do you typically work with?

   Even if they offer what you’re looking for, do they have a lot of experience with it? It’s best to hire someone who is well-versed in the service(s) you’re looking for.

5. What is your fee structure?
   Decide what kind of services you’re looking for, yet be open to what the accountant offers & why. If you’re looking for someone to prepare & file your taxes, that may be a smaller fee. Tax prep + year-round tax planning will be a higher fee. Some accountants only offer certain packages, so you if their offer is more (or less) than you need, ask for what you want, or contact another CPA if their services aren’t quite what you’re looking for.

Are you looking for a referral for a great accountant? Contact me at cortney@nwmoneycoaching.com and I’m happy to give you some trusted names.