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Hiring a CPA for a Small Business

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The success of your business depends largely on how you handle your finances. So, as you start your small business, find a qualified and experienced accountant to help you collect, analyze, and report your business’s financial data. However, don’t just choose anyone who calls themselves an accountant, because not all accountants have what it takes to help you organize your finances.

You should hire a CPA (certified public accountant) because they’ll have a better understanding of the financial industry and can perform more advanced functions than an ordinary accountant. But what do certified public accountants do? It’s important to know how to differentiate between a CPA and an ordinary accountant.

Does Your Small Business Need a CPA?

Many owners of small businesses overlook the importance of having a professional accountant to handle their finances. They only consider the services of an accountant when filing their tax returns or during a financial crisis in their businesses.

Unfortunately, this prevents them from enjoying the numerous benefits of working with a professional accountant like a CPA. A CPA will help you to plan your taxes so that you can identify areas where you can save money on tax while ensuring that your business remains fully compliant with tax laws. They’ll also advise you on what you can do to get financing for your business.

A CPA will provide you with accurate financial projections for your saving objectives and advise you on the steps to take to address any financial challenges you may be facing in your business. They’ll listen to all your concerns and give you solutions that suit your needs.

A CPA designation is a mark of quality in the accounting industry because accountants looking to get this title must prove their unmatched level of expertise, experience, and knowledge about the most important aspects of the accounting profession. They must sit and pass the Uniform CPA Exam, which is administered by the American Institute of CPAs (AIPCA).

Even when an accountant has completed training and passed their Uniform CPA Exam, they won’t get the CPA designation until they get a license from the relevant licensing board. This shows you how rigorous this process is. So, you can expect your CPA to give you strategic advice on how to manage and grow your finances.

Moreover, a CPA will come to your aid whenever your finances hit a snag by helping you to figure out the most effective solutions. For instance, they’ll analyze and audit your financial books to identify any loose ends that need to be tightened to help you achieve your business objectives.

How to Hire a CPA for Your Small Business

Given the important roles that CPAs play in business, you need to take your CPA hiring process seriously. Know the qualities of a good CPA and learn to identify them easily in a potential candidate. Here are important considerations you need to make when hiring a CPA:

Level of Expertise and Experience

Although the CPA designation is given to accountants who have attained a certain level of training and experience, it’s important to choose CPAs with the highest level of proficiency and know-how because they have a proven track record of offering excellent services and handling complex accounting challenges effectively.

Make sure that they’re experienced in the areas of your specialization so that their services match your business needs–this makes it easier for you to create a perfect job description for CPAs. For most small businesses, the roles of a CPA may include audit preparations, bookkeeping, accounts payable, accounts receivable, tax preparation, payroll, budgeting, drafting financial statements, and planning and analyzing finances.


How much does a CPA charge per hour? Some CPAs charge hourly rates (around $37 on average) while others prefer monthly rates. Whichever option your CPA prefers, make sure you negotiate for a friendly rate that will allow you to save money without compromising the quality of services offered. You can stick to your budget for hiring a CPA by hiring affordable freelancers from a reputable job site like Guru.

Ability to Use the Latest Accounting Tools

Many startups are leveraging the latest technologies to reduce their operational costs, so your CPA should be familiar with all the accounting tools in your company. They should also advise you on the best accounting software to implement in your business. With these tips, you can easily find the right CPA for your small business!

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