How to Hire a CPA: A Complete Guide

For many businesses, operating at a bare minimum is paramount. And as such, they’re always looking for ways to improve their bottom line. Reducing expenses is one of the ways to achieve this goal.

Often, companies looking to cut costs choose not to hire a professional to do their taxes. With the cost of hiring a Certified Public Accountant (CPA) ranging from $173 to $273, it seems like a bargain not to hire one.

Wrong move!

Hiring an accountant, even for small companies and businesses, should be treated as a bare necessity. And as such, knowing how to hire a CPA is paramount.

With the accounting industry full of “qualified professionals,” be careful who you hire. Your business or companies taxes are too valuable and sensitive to give to anyone claiming to be “the best” CPA.

Read along as we discuss various CPA hire tips.

Decide on a full-time or a Freelancer CPA

Depending on your firm’s size, you can choose between a full-time or freelance accountant.

With a big firm, hiring an in-house accountant would make more sense. With a full-time accountant, a company will stay on top of its finances. The accountant assesses the expenditure, necessary and discretionary budgets. Also, they’ll file the company’s taxes.

On the other hand, for a small company, it’s economical to hire a freelance accountant. The overall cost of hiring a freelance accountant is lower, as they hire them when they want to put their finances in order and file their taxes.

Opting to do your accounts to save on cost might end up costing you more. Hire a qualified accountant as they’re professionals and understand the tax code.

Consider a CPA Academic Qualifications and License

When hiring an accountant, you need to understand that CPA doesn’t only entail crunching numbers. This ensures you only get nothing but the very qualified for your company.

The accountant you’re considering should have all the relevant academic qualifications and has a license to practice in your state.

As an accountant for your company, they’ll have to interact with other employees; it’s of paramount importance that the accountant is able to fit in well, have a good rapport with the rest of the staff. This ensures your company runs seamlessly and all your accounting needs are fulfilled.

Know What You Need

It’s advisable you do a quick research and identify what your business needs are.

This way, when you are hiring, you look for an accountant that fulfills all your business needs. Account even for your future needs. This way, you ensure that you won’t have to hit the market searching for another accountant down the road.

Consider the CPA’s Industry Experience

It’s worth considering the level of experience of the potential CPA you’re looking to hire.

Hire a CPA with extensive experience in your field of business. This way, they’ll be very well equipped to handle any issues that might pop up. Also, this ensures that in the line of duty, the CPA won’t make rookie mistakes that might end up costing your company huge losses.

Ask For References and Testimonials

References will go a long way to making your search for a CPA easier. Consider asking for references from your social groups, agents, or your colleagues. Odds are they’ve had services from the ones they refer, and they were satisfied with their services and professionalism.

Prepare a list of the referred CPAs, compare and contrast their level of experience and qualifications.

Don’t underestimate the value of testimonials from previous clients. The best certified public accountant will have glowing testimonials. This shows that a CPA is a qualified, professional, and delivers high service standards.

With references and testimonials, select the best CPA candidate that fits well with your business needs.

Schedule an Interview

Keep in mind that you’re not only looking for a highly-rated CPA but also one who fits well with your company.

Set up a meeting with your potential CPA. An in-person meeting is highly recommended as face to face interview beats references and phone calls. This way, you can pick up on any cues that may help you understand the CPA better.

Consider the Cost of Hiring a CPA

As a company, you’re still interested in your bottom line. It’s recommended you research and find out the market cost of hiring a CPA. With this information, come up with a budget that will guide you.

Consider looking at several CPAs and their charges. Be very wary of any additional costs that might be cited. A reputable and professional CPA will be upfront and straight with their charges.

Settle on the candidate whose cost aligns well with your budget and still offers quality service. This way, you won’t go overboard and leave yourself in a financial crisis.

Set Expectations and Communicate With the CPA

Now that you know what you want and why you’re hiring a CPA, have expectations and communicate them clearly and precisely.

Setting deadlines, modes of communication, and meetings to discuss the progress are crucial. The best CPA like www.taxfyle.com/cpa-jobs will understand these expectations. Then, they’ll inform you if they’re realistic, and help you make new ones if necessary.

This ensures you’re on the same page, avoid disappointments and confrontations in the long run.

Learn How to Hire a CPA and Get a Qualified Professional

With the above-discussed tips on how to hire a CPA, you’re well equipped to get the best CPA. This will ensure your companies taxes and accounting needs are handled by a qualified professional.

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