Managing your business or personal finances can get complicated quickly, and it’s common for individuals and businesses to reach a point where they realize they need CPA help. Knowing it’s time to hire a CPA is great, but how do you actually go about getting CPA help?
Step One: Determine Your Needs
Before you start searching for a CPA, take some time to determine the scope of your needs. Are you looking for someone to help in an especially complicated tax year? Are you a business looking for help with bookkeeping and payroll? Are you facing an audit and looking for the support of a Certified Public Accountant?
Knowing what your needs are, and moreover what your goals are will help you find the RIGHT CPA, the one with expertise, services, and experiences that match your needs.
Step Two: Identify What’s Important to You in a CPA
While for some people, any accountant will do, most people prefer to work with someone who has expertise in their specific area of need. For example, if you’re an individual who owns multiple rental properties, you’ll probably want to look for a CPA who has real estate experience and can offer specific advice on your entity structure, tax options, how you order your financial ecosystem, and more.
You’ll also want to determine if location and/or virtual services matter. If you prefer a firm with an office you can visit in person, make sure you search locally. If you need virtual services, you can expand your search to find the best firm for your particular circumstance.
You may also want to consider whether you prefer to work with a more established CPA with a proven track record, or someone who is newer to the industry.
Step Three: Research and Ask for Referrals
One of the most common ways new clients come to us is through referrals. Recommendations from friends, family, and business associates who have experience with a CPA firm can be a great place to start. If you don’t have anyone to ask, you can look at professional organizations like the American Institute of Certified Public Accountants (AICPA) or the Texas State Board of Public Accountancy.
There are plenty of online directories, maps, and Google listings. In your research, make sure you verify that the firm you are looking into is certified, that they have reviews that offer specific feedback on services, and opt for a free consultation if available.
Step Four: Check Their Specializations and Expertise
CPA firms will often specialize in specific areas of accounting, and sometime offer industry expertise. If you’re a small business, you might want to consider looking for a firm that has experience working with small businesses and can assist in tax planning and accounting. Make sure you read client testimonials to check their ability to handle specific requirements.
Step Five: Set up a Consultation
Most firms will offer a free consultation, during which the CPA will ask questions about your accounting needs, goals, and expectations. Consultations are great because they help you get a sense of the firm’s communication style, their professionalism, and whether they feel like a good fit. During this consultation, be sure you’re prepared with any specific questions you have, and make sure to discuss fee structure, services, and terms of the agreement. Some CPAs work on retainers while others charge hourly rates, fixed fees, or a combination of both. Keep in mind that the goal isn’t to get the least expensive CPA, but rather to find the CPA that is the right fit and worth the investment.
You may want to consider consultations with a few firms, just to be sure you are making the right choice for you.
Step Six: Select Your CPA and Get Started
Once you’ve identified the firm you would like to work with, it’s time to get started. You and the CPA or firm representative will outline terms, scope of work, services to be provided, and the fee structure. Make sure everything is accurate and remember, it doesn’t hurt to ask if you’re unsure about something.
Once you’ve gotten started, the CPA will get to work. If they will be managing ongoing accounting there may be a handoff period, series of phone calls, or evaluations to ensure processes are set up correctly. If you’re getting tax help, you may be asked to upload documents to an online portal. No matter what you’re seeking CPA help for, the firm you choose will guide you smoothly through the process.
