An accounting firm that helps with the bookkeeping is a crucial part of managing your day-to-day cash flow. A qualified CPA will give excellent advice on accounting methods that will keep you in legal compliance with the current regulations and help with tax planning strategies to reduce the tax burden for your company. Tostrud & Temp, S.C., is your best choice for business accounting in La Crosse, WI, and they’re here to offer great advice about hiring and working with an accountant.
5 Crucial Questions to Ask When Hiring an Accounting Firm
1. Are You Open Year-Round?
Some accounting firms are open only during tax season and close down for the rest of the year. While this may be adequate for those needing to file simple personal tax returns, it’s insufficient when operating a small business. It’s much better for a small business to have an ongoing relationship with an accounting firm to keep track of income and make smart financial decisions all year long.
2. What Is Your Track Record With the IRS?
Helping defend you if you are audited by the IRS is a crucial part of your tax accountant’s responsibilities. If a tax accountant has never had any of their clients audited by the IRS, then perhaps their tax accounting methods are too conservative, and this could result in you paying higher taxes than legally necessary. On the other hand, if the number of clients' audits is very high for a firm, it may indicate the tax accounting is too aggressive.
3. What Type of Accounting Software Do You Recommend?
It’s important that the tax accountant uses the same software that the business owner uses. This allows for seamless record-keeping that makes daily bookkeeping accurate and efficient.
4. How Do You Charge for Your Services?
Some accountants charge an hourly fee while others have a set amount charged for certain services. Understanding the fees structure is important for your business budget planning, so be sure to ask this up front.
5. Will You Do the Work Yourself?
Some accountants outsource the work to others. That’s fine as long as you’re aware of who is doing the work and their level of competence. You don’t want any surprises, so work these details out in advance.
Picking a good accounting firm is vital for a business that wants to save on taxes and run smoothly. To make an appointment and discuss your business accounting needs, call Tostrud & Temp, S.C., in La Crosse, WI, at (608) 784-8060 or visit their website for more information.