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Have You Asked Your Business Accountant These 4 Questions Yet?

September 28, 2020

As we move into fall, our business accounting experts are used to answering the most common questions from our clients.

The 5 Questions You Should Ask:

Our team recommends asking your business accountant the following questions to get the most out of your relationship with them:

How and how often should we communicate? When it comes to managing your business’s finances, open and honest communication with your accountant is your only option. You should ask them not only which communication medium they prefer (text messaging, phone, email, etc.) but also how often they would like to touch base with you inside and outside of tax season.

How can you help me during tax season? Your business accountant knows which documents you need to be getting together throughout the year and how you can best allocate your resources to avoid the heaviest tax burden. Therefore, you should ask them what you may do to help them prepare, and also which tax credits and deductions to claim in order to maximize write-offs.

Are you qualified to represent my business in an audit? All CPA’s, such as our professionals at Frank W. Kapitza & Associates, are qualified to represent businesses under audit by the IRS. When it comes to other types of accountants, it varies by individual, so this is an important question to ask if you are not working with a CPA.

With which types of businesses do you normally practice? Every business is different. Therefore, it’s important that your accountant has experience working with your specific type of business. Handling accounting for a church is not going to be the same as for a law firm, for example. You need to make sure your accountant is knowledgeable about the types of accounts your business handles, and preferably has experience in your area.

The business accountants at Frank W. Kapitza & Associates have worked with various types of businesses to handle present and future preparations, deductions, audits and more. Contact us today at (973)-276-0650 or frank@frankkapitza.com so we may assist you!