In a recent interview, top CPA Pauline Ho, head accountant at Laus Consulting Services LLC in Orlando, FL, revealed the important questions to ask before hiring an accountant or CPA. —
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When asked for a comment, she said, “Having a seasoned CPA or accountant working for your business is a great asset as they help with taxes, cost-cutting measures, as well as provide advice on the general financial health of your business. Here are some important questions to ask before hiring someone.”
It’s vital to be upfront and ask about fee structures.
"Many companies that provide accounting services bill on an hourly basis, however, many also offer monthly rates. Make sure to ask which types of services are included in monthly rates, as it might differ from CPA. While you shouldn't choose an accountant or CPA solely based on their rates, this will help in setting your expectations," she said.
Ho was quick to add that it’s also important to know exactly which services are provided. Common services offered by CPAs and accounting firms include monthly bookkeeping, representation during a tax audit, and payroll processing and taxes, among other services.
Another important question to ask a CPA or accountant is if they have unlimited representation rights if their clients are audited by the IRS.
When asked to elaborate, she said, "Enrolled agents, tax attorneys, and CPAs have unlimited representation rights to act on behalf of their clients when dealing with the IRS on audits, appeals, and payment/collection issues. Some accountants don't have these unlimited rights, so be sure to ask. While the IRS might not ever audit you, it's good to hire someone who could fully represent you if the need arises."
Before deciding on hiring a CPA or accountant, it's also good practice to ask about their experience level.
“In particular, you should be asking if they have experience with your type of business, since your business will have particular accounting needs. So, for instance, if you have a healthcare practice, then your CPA or accountant should have previous experience in valuing medical equipment and dealing with patient receivables,” she added.
When looking to hire a CPA, it’s crucial to learn how often they discuss business taxes with their clients.
"The biggest benefit of having a CPA for your business is the expertise tax consultation you get. You'll want to meet a couple of times a year to talk about your business's taxes, so you know that there won’t be any surprises with your taxes. Keep in mind that many firms recommend sitting down to discuss taxes every quarter. It’s worth it to pay a bit more to have regular meetings to avoid potential tax issues,” she said.
For more information please visit
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
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Release ID: 88986248