Whether starting a new venture or dealing with an IRS audit, you cannot expect to manage the financial affairs of your company in Columbia without professional help. Small & medium-scale businesses don’t usually have the resources to have a separate accounts department, and outsourcing is usually more feasible and affordable. We have enlisted five rational tips for selecting a CPA in Columbia, TN.
- Make a list: You need local accounting firms and must have a shortlist of at least four to five names. Talk to your fellow entrepreneurs, business owners, and professionals to know the CPAs they have worked with and get references. You can also find listings for Columbia through an online search.
- Meet the CPA: Even if you think a firm is the right fit for your business, you should meet the core team to know whether they have the required attitude. A good CPA will listen to your concerns and offer bespoke solutions.
- Look beyond tax preparation: Businesses often make the mistake of hiring a CPA right before the tax season. While professional assistance can help in filing taxes on time, you need a firm that can do more. CPAs can advise on retirement accounts, tax planning, expansions, cash flow, and much more.
- Check their clientele: You have to see the kind of clients that a firm deals with, and it is essential that the accounting team has experience in your industry. There are regulatory and compliance requirements, which are often specific to certain sectors.
- Consider the fee: Accounting services often charge clients differently. You could have someone to look into your financial reports before filing taxes, or a CPA could be responsible for the entire accounting & bookkeeping work all through the year. You may have to pay an hourly fee, a monthly amount, or an annual fee accordingly. Get an estimate in advance.
Other things to know
It is best to have a team that can offer solutions for all financial problems. Ask the CPA if they can help with IRS audits, dealing with notices, future investments, and other things related to accounting. Also, whether the firm is accessible and available to offer support, advice, and solutions on demand is worth considering. You don’t want to hire someone too busy to answer calls. Don’t forget to check the reviews of an accounting service online. You should also ask for references to know the CPA better.