FAQs

Do you believe I’m paying too much, too little, or just the right amount of tax?

Beyond simply preparing tax forms, an accountant should be involved in business planning throughout the year. Typically, a quarterly review should be scheduled to ensure books and records are in order. This also allows time to advise clients about their businesses so they function with peak tax efficiency.

Because most business owners pay too much in taxes, a proficient Firm will analyze the tax situation from the form of entity to all legal means to plan and minimize all taxes
paid.

Why should I use you?

Ask the question and just listen for the answer. You should feel like we really care about your success.

How are your fees calculated? Will you be charging me for every phone discussion?

To avoid friction later, it is essential to discuss the fee structure. Tax professionals may bill by the hour, form, overall return or some combination. After reviewing your previous returns and interviewing you, a tax professional should be able to give you a good-faith estimate of costs. If the firm uses a time-based system, discuss the hourly rate of the accountant and staff, overhead expense reimbursement (what is the cost of a fax?) and whether certain time is not billed.

Find out now whether a simple two-minute phone call or a one-page fax means an hour of billable time. If that’s the case, run for the door.

What Are Your Fees?

Ask how the firm bills clients and about billing options. Most firms bill on an hourly basis but firms will often have a monthly rate. Ask what’s included in a monthly rate. One firm might define it to be posting cash receipts and disbursements in accounting software while another might also include preparing monthly journal entries, balancing the bank statement, and printing a profit and loss report for you. Rates alone should not be the determining factor in hiring a firm; you just need to know what to expect.

Do You Have Experience With My Kind of Business?

Ask about the experience of this firm with your type of business. Not all business types are handled the same from an accounting and tax standpoint, and having a firm that understands your field is very helpful. For example, if you are a healthcare professional (chiropractor, acupuncturist, physical therapist, psychologist, or other), your Accountant should be knowledgeable about valuing equipment and accounting for patient receivables.