One of the best ways to help you select a high quality accountant for your small business is to first determine what you need from your accountant.
Questions you should ask yourself:
1. Is your business a new business? If so do you need help determining the correct business structure? Sole proprietorship, partnership or corporation?
2. Do you need tax and accounting assistance with your business, personally or both?
3. Do you want to use an accounting system or would you rather your accountant handle the bookkeeping aspects of your business?
4. Do you have any employees? If so do you need help with payroll? Is it more effective to outsource the payroll function?
5. Do you understand the tax filing requirements? Are you able to complete the tax filling yourself? Would you like your accountant to review or prepare your tax fillings?
6. Do you have a solid business knowledge or would you like to rely on your accountant for business guidance and advice, leaving you more time to do the things you love about your business?
7. Do you know the tax laws related to expense deductions, car mileage, office in house, or paying family members?
8. Do you know what kind of retirement strategies to employ to ensure you and your employees will be looked after in the future?
9. Once you have asked yourself these questions and have taken time to reflect think of a few other questions that you would like your accountant to help you with and post them below.
Once you have completed the above steps it is now time to move onto questions for your prospective accountant.