The constant changes made on tax laws by Legislators leaves an average citizen with perplexity regarding financial decisions such as selling a property etc.

Accounting firms are usually up to date with these new tax laws, offering financial counsel and helping small businesses and business owners establish financial goals and grow budgets.

Here we will look at the basic things to look out when hiring an accounting firm. 

Certification

Tax preparers may be hired and trained by tax preparation firms to aid the public file income taxes. However, these firms only provide peripheral advice to small businesses.

With your growing accounting needs, you’ll need an accounting firm that hires skilled public accountants, or CPAs.

Advice

While some accounting firms may readily advise on when to buy and equipment and how to make financial records, others draft the required reports, offering little feedback.

Your experience and financial knowledge determine the level of advice that you need, if you aren’t well experienced, choose an accounting firm that offers in-depth financial guidance.

Level of Service

For full bookkeeping services, choose an accounting firm that hires bookkeepers to see to the daily client transactions.

An accounting firm that does not hire bookkeepers will likely charge more for a CPA to handle routine bookkeeping tasks.

Availability

While some clients are happy to meet once a year with their accounting firm for tax filing, others may prefer to meet more regularly to get timely answers to their business questions. It’s for your interest to find out how reachable your accounting firm is.

Goal Setting

Some accounting firms help clients in setting goals and tracking their financial progress which is particularly helpful for new business owners.

Always endeavour to find out your prospective accounting firm’s goal-setting policy if you are required to pay an extra charge for the service. 

Recommendation

An accounting firm that is widely recommended is certainly worth a try, so do online research on the firm, read reviews, seek friends and business associates’ suggestion.

Personal Connection

It doesn’t make sense hiring an accounting firm that you won’t feel comfortable to discuss your finances with. If they can’t relate to you in terms you understand, you won’t get your desired service. An accounting firm that you can personally connect with is what you need.

QBO helps you understand your business financial status and you can visit them here: goqbo.com.