sub-contracting and taxes - an accountant can help!

Questions To Ask When Hiring An Accountant For Your Small Business

by Wallace Hanson

When you run a small business, the difference between losing money and being profitable can be extremely minor. As such, it's important to hire the right accountant to look after your books instead of attempt to do it on your own with accounting software. The more expenses that the account can write off on your behalf, for example, the more money you'll end up keeping at the each of each business quarter. Given the importance of the accounting process, it's valuable to hire the right person for the job. Get some recommendations from other small business owners that you trust and call some accountants to discuss your needs. During this conversation, be sure to ask these questions.

How Much Have You Worked With Businesses The Size Of Mine?

The term "small business" can be loosely applied to businesses of a variety of different sizes, from those with several employees and a physical store to those run by one individual out of his or her home. As such, it's important that you can ascertain each accountant's experience in helping businesses of your exact size. For example, accounting for a business with a staff will involve lots of payroll considerations; if you have people working for you, you'll want an accountant who has helped other businesses in the same situation.

How Can You Save Me Money?

One of the main goals of hiring an accountant is to help you save money, so don't be shy about asking this question during your initial conversations. While the account might not be able to provide complete answers until seeing your bookkeeping, he or she should have some ideas (based on experience with other clients) of how to write more things off, qualify for tax credits and, in general, save you money. It's likely that the accountant will ask you some questions about your bookkeeping practices, so it's a good idea to have some documents in front of you when you make this call and ask this question.

Are You Comfortable With Being Audited?

For any small business owner, being audited by the IRS is a real concern. It's ideal to hire an accountant whose clients have been audited in the past — randomly, not because of any accounting wrongdoing — so that this professional will feel comfortable with the process. You don't want to hire someone who hasn't been audited, as he or she could be unfamiliar with the best ways to handle this challenging situation. Contact a business, such as Don Lamb CPA Inc P.S., for more information.