Why Should Business Owners Hire a CPA?

Certified Public Accountants or CPA's as they are more commonly called, can provide you with a number of advantages over other accounting professionals. Their education runs considerably deeper and they have to answer stricter licensing as well as meeting more stringent requirements where their expertise is concerned. Additionally, they must also adhere to a stricter code of professional ethics.

You need to remember first and foremost, that a CPA is not just a numbers cruncher. For all practical purposes they are personalized business and personal financial advisers and strategists. CPAs can help you with the following business and personal accounting and tax needs:

o estate planning
o investment advice
o financial and tax planning services
o retirement planning

Are there certain qualifications you should look for?

One word - "ABSOLUTELY!" First of all, ask them to prove that they are a licensed CPA. Ask them if they are local and licensed to practice in the state(accountants are licensed at the state level in the United States). Find out if they are members of certain professional organizations and how active they are in your local area. Most importantly, find out if their expertise and personality are compatible with your business and personal needs.

How to choose a CPA

Choosing a CPA is not as daunting a task as you might think. We offer you the following suggestions on decision-making criteria that you should always take into consideration:

What services do you need a CPA to perform?

First and foremost, you need to determine what you need that CPA to be capable of where your business and personal needs are concerned. CPAs all have to abide by local and state regulations and standards as well as being licensed to practice anywhere in the state. Unfortunately, not all of them offer a full line of services to accommodate the many business and personal accounting needs.

Interview several CPAs

It is critical that you don't just hire the first CPA that you talk to. Interview several to find out about their years of experience, if they are truly local, what their rates are, if they'll work around your schedule, etc. Make sure that you take your business and personal financial tax records to the interview. Make sure you get their rate sheet also.

What's included in their fees?

Make sure that you get the most bang for your buck. If they're charging a healthy fee, there better be a wealth of services that they offer for the money spent on them.


Jonathan Medows, CPA, MBA is the Managing Member of MEDOWS CPA, PLLC, a boutique New York CPA firm serving the needs of individuals, freelancers, self employed individuals & small businesses. To see how he can help you reduce your tax liability and keep you in tax compliance please visit his website: http://www.medowscpa.com
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