When business owners or executives consider hiring a professional accountant, one of the first questions is about cost. While the answer will always depend on the services you need and the person you hire, there are ways you can maximize your investment and improve your business. The Whyte & Associates team in Rancho Cucamonga has helped countless clients with their tax and accounting needs. They provide five tips to get the most from your relationship.
- Build a relationship. By working with
the same professional each year, he or she can become familiar with
your business and will be in a better position to identify discrepancies
and make suggestions.
- Get organized. In most cases,
accountants charge by the hour. If you compile the information they
need, present it clearly, and ensure that all documentation is in place,
it will lessen the time your accountant needs to spend on your case and
will limit the amount of additional work for both of you.
- Don’t lie. Lying to your accountant
is like lying to your physician – it only hurts you. Understand that
your information is private, but that your CPA needs to have a clear
picture about all income and expenses to file proper tax returns or help
you make future decisions.
- Don’t assume. Don’t assume that you
understand tax rules and regulations. These change frequently, can be
complex, and can have serious consequences. Remember that you’re paying
an accountant for expertise in this area, so ask questions.
- Consult your accountant before you make decisions.
There are many ways an accountant can help you protect your bottom
line. Talk to your CPA about big purchases or divestitures so you
understand how the decision could affect you at tax time.
For more information, call Whyte & Associates at (909) 575-0080.
