How to Select an Accountant

Selecting an accountant isn't always easy. Think all you have to do is open up the yellow book and select one? Let me ask you this: would you go to a proctologist for an earache? There are many types of accountants out there, just as there are many types of doctors and lawyers. Here are some tips in selecting the right accountant for you.

Financial Planners

There are some CPA's that specialize in financial planning. These professionals will help you set your house hold budget and meet saving goals. They will help you choose the right retirement savings and college savings vehicle, and will look over your financial data and tell you where you can trim the fat.

Look for a professional that is either a CPA or a CFP. Not all CFP's are CPAs. Before you hire someone, look to your state's board of public accountancy to ensure that the professional you select has never been subject to disciplinary action.

Tax Planners

If you have a handle on your household, but just need help with the tax man, you need a tax planning CPA. These professionals will help put you in a tax-advantageous situation. They will make sure you are receiving all the proper tax credits, and will guide you in making transactions that will help you in your particular situation. They will tell you what you need to have withheld from your paycheck, and will provide support in the event of an iRS audit.

The best tax planners are CPAs. However not all CPAs are great tax planners. Gather references before selecting a tax planner that is right for you.

Business Advisors

Are you a small business owner? A CPA who is well versed in business issues could take the place of an in-house controller or CFO. There are many CPAs out there who provide outsourced accounting support, and will act on your behalf to speak with bankers, lenders, investors, and external auditors.

Auditors

Auditors are not evil. When people think of Auditors, they think of the IRS. This is not so. Sometimes, lenders require an annual audit. Other times, some businesses may want to go public. In these events, auditors provide crucial services. Due to quality control, it's highly unlikely that a lone CPA will be able to act as your auditor. Look to a small, medium, or large sized firm based on the size of your company and the industry that you operate in.