**How to Choose the Right CPA for Your Small Business: Insights from a Veteran Accountant**
As a small business owner, financial planning and accounting can be a daunting task. Choosing the right CPA to work with is crucial to ensure your business’s financial health and compliance with tax laws. In a recent podcast episode, CPA Beth Pitt shared her unique approach to providing advisory services to small business owners and valuable insights on selecting the right CPA.
According to Beth, finding a CPA with experience and expertise in your industry and of your size is crucial. Communication is also key – look for someone who you can communicate well with and feel comfortable disclosing personal and business information. Asking for references and referrals from existing clients or connections can also be helpful.
Beth’s approach to advisory services involves planning throughout the year to help clients navigate changes in tax laws and other operational challenges. This approach allows for more communication and support for clients, without the anxiety of unexpected bills or time tracking. Regular evaluation of profitability and marketing strategies is also crucial to ensure a win-win situation for both the client and the business.
While accounting software like QuickBooks can be useful, it is not a replacement for the quality of work and personal relationship with an accountant or bookkeeper. Keeping expenses separate and not claiming personal expenses as deductions is also important to avoid audit by the IRS.
Overall, choosing the right CPA can make a significant difference in your business’s financial health and success. Take the time to find someone with experience, communication skills, and expertise in your industry. Don’t neglect financial planning and evaluation throughout the year. And remember, a good CPA is not just a tax preparer but also a strategic advisor for your business.