What Should I Ask A CPA Before I Hire Them?

Posted on June 8, 2023 by Oozle Media

When it comes to managing your finances, particularly in the complex world of taxes and accounting, seeking the assistance of a CPA can make a world of difference. A CPA not only provides expertise and guidance but also ensures compliance with tax laws and maximizes your financial potential. However, finding the right CPA for your needs requires careful consideration.

To help you make an informed decision, we’re giving you some questions to ask a CPA before hiring them.

1. How long have you been providing bookkeeping services to businesses, and what experience do you have with salons and spas specifically?

This question is crucial because it gives you an idea of the CPA firm’s level of experience and familiarity with your specific industry. Look for specific examples of the CPA firm’s experience working with businesses similar to yours. The firm should have a deep understanding of the challenges faced by salons and spas, such as managing inventory and payroll, and have experience providing solutions to these challenges.

2. Can you provide references from other salon and spa businesses you have worked with in the past, and can you share some of the successes you have helped them achieve?

By asking this question, you can assess the CPA firm’s track record of success with other businesses in your industry. It is crucial to collaborate with a firm that has a proven history of assisting businesses similar to yours in attaining their financial objectives.

3. What software programs do you use for bookkeeping, and are you familiar with the software that we currently use for our business?

This question helps ensure that the CPA firm uses software that is compatible with your business’s existing system. You want to work with a firm that is familiar with your software and can seamlessly integrate with your current processes.

4. How do you ensure the security of our financial data, and what measures do you have in place to prevent unauthorized access or data breaches?

This question is important because it helps ensure that your financial data is safe and secure. Look for a CPA firm that takes confidentiality seriously. They should have policies and procedures in place to protect your sensitive financial information.

5. What types of bookkeeping services do you offer, and are there any that are particularly well-suited to a salon and spa business?

Asking this question helps ensure that the CPA firm offers services that are tailored to your business’s unique needs. You want to work with a firm that offers services that are well-suited to your industry and business model.

6. How do you communicate with clients, and what is your availability for questions or concerns?

This question is important because it helps ensure that the CPA firm has clear communication protocols in place and is responsive to your needs. You want to work with a firm that is accessible and responsive to your questions and concerns. Ask how they prefer to communicate with clients, whether it’s by phone, email, or in person.

7. How often will we receive financial reports and statements, and what information will be included in these reports?

You want to receive regular and comprehensive financial reports that give you a clear picture of your business’s financial health. Working with a firm that provides regular reports that are tailored to your business’s specific needs is crucial.

8. What is your fee structure for bookkeeping services, and how do you bill clients for your work?

This question is important because it helps ensure that you understand the cost of the CPA firm’s services and how they bill for their work. You want to work with a firm that has transparent and reasonable fees that fit within your budget.  A good CPA firm will be upfront about their fees and how they charge for their services. Ask if they charge hourly or if they have a flat fee. Be sure to ask if there are any additional fees or charges that may arise.

9. Can you provide guidance and advice on tax planning and preparation, and are these services included in your bookkeeping package?

This question helps ensure that you will receive comprehensive financial services that go beyond bookkeeping. You want to work with a firm that provides guidance on tax planning and preparation to help you save money and minimize your tax liability.

10. What happens if we have a problem or issue with our bookkeeping, and how will you work with us to resolve it?

This question can help ensure that you understand the CPA firm’s process for handling problems or issues that arise. You want to work with a firm that is responsive and proactive in addressing issues and resolving problems.

You want a CPA firm that can respond quickly to urgent issues. They should have a system in place to prioritize urgent issues and respond to them promptly.

11. How do you ensure accuracy in your work?

Look for a CPA firm that has a thorough review process. They should have a system in place to catch errors and ensure that your bookkeeping and financial statements are accurate.

12. How do you stay up to date with changes in tax laws and regulations?

A CPA firm should be committed to ongoing education and staying up to date with changes in tax laws and regulations. They should have a process in place for keeping up with changes and adjusting their services accordingly.

Let Us Help You

Remember, the decision to hire a CPA is an investment in your financial success. Taking the time to ask the right questions and conduct thorough research will empower you to make an informed decision and establish a long-lasting partnership.

So, don’t hesitate to reach out, ask those questions, and embark on a fruitful collaboration that will ensure your financial stability and growth. We can’t wait to hear from you.