Accountants are trained professionals who can assist individuals and businesses with a variety of accounting needs from tax preparation to payroll. If you are looking to work with a new accountant in some capacity, you’re going to have some questions for them. Here are just a few questions you might ask an accountant prior to hiring them or once you start working together.
- Can I reduce my tax liability? Accountants understand tax law and how to reduce your tax liability legally. They can help you find tax credits and incentives you qualify for as well as suggest other strategies for reducing your tax liability. Beyond that, accountants also make the process of filing your tax returns much easier for you and offer you peace of mind that they are going to be accurate.
- How should I structure my small business? If you are thinking of starting your own business, one of the most important considerations is what type of entity you should use. An accountant may be able to help you understand whether a C corporation, S corporation, LLC, sole proprietorship, or partnership is right for you.
- Are you a CPA? A CPA, or Certified Public Accountant, is a professional designation given by state boards of accountancy. CPAs earn this special license after meeting education and experience requirements and passing the CPA exam. CPAs have a higher level of expertise than accountants and can represent taxpayers in audits.
- What services do you offer? Accountants usually offer a wide variety of services, like bookkeeping, tax services, payroll services, financial reporting, and more. Find out what your accountant offers and whether their services will meet your needs.
