Five Questions to Help You Choose a CPA Firm in Las Vegas
Choosing a CPA firm in Las Vegas can be difficult. CPA firms vary in size, services offered, and price. With so many variables to consider, it can be easy to get overwhelmed when choosing the right Las Vegas CPA firm for your business needs. To make this process easier for you, we’ve created four questions that will help you determine which CPA firm in Las Vegas is best suited for your company’s particular needs.
What are the CPA Firm’s Services?
First and foremost, what are CPA Firm’s Services? CPA firms typically offer tax preparation, bookkeeping, and auditing services. CPAs typically offers the core service along with consulting for small business owners like you!
How to hire a CPA?
Hiring a CPA is much similar to hiring a lawyer or a doctor. There are specific roles they have, and not all CPA’s can do the same thing. Many industries have specialists and CPAs are no exemption from that rule. So based on what you are looking for, you should do your research and find the CPA that has the knowledge and experience in exactly what need.
The difference between hiring an excellent CPA and a mediocre one depends on asking the correct questions. Many CPAs will fix your tax returns and do little more unless you explicitly ask for it. At times, the extra fees for additional services—like business advice or tax planning— can appear surprisingly expensive and high.
So, before you sign off on your CPA firm in Las Vegas, make sure to ask them some questions to find out if they are the right fit for you.
Do you carry a Preparer Tax Identification Number (PTIN)?
This should be your first question. You want to make sure that your CPA is certified to do the things you need. Anyone who is in charge of preparing your tax returns must be in possession of a PTIN to submit to the IRS. Without a PTIN, tax accountants actually cannot submit the prepared tax return, and pretending to be able to do so can harm your company.
If needed, are you available year round, and what are your working hours?
Knowing when you can get in touch with your CPA is very important. As your company’s circumstances may change, you might need to reach out to your CPA on a monthly, weekly, and also on even daily basis. Look for a small CPA firm in Las Vegas that will be available to answer all your questions, and be available to flexibly work with you. Also, make sure that you don’t get billed at a high rate per hour every time you call them on the phone or send them an email. Make this clear with them from the very start. Remember, you are not just hiring a Las Vegas CPA firm to prepare your taxes, you are also hiring them to get the benefit of their expertise and knowledge.
What will you do if I get audited by the IRS?
Being audited by the IRS is not uncommon, and it can also be very time-consuming. This is an excellent question to ask because there are many CPAs out there who only provide tax returns, but don’t give any ongoing support. In this case, you’ll want someone who is ready to represent you and stand by you in front of the Tax Court or IRS.
A good trick that can help you stay in your budget zone is to look for a CPA firm in Las Vegas that offers protection for tax auditing that is included in their service agreement. This way, if you do get audited, you’ll be guarded without having to spend an hourly rate.
Also, a key element is to find out how much experience your CPA has in handling IRS issues. Feel free to ask them about previously dealt cases that they successfully settled.
How much do you charge, and what are your rates?
Like any other service you hire, this is an imperative question to ask before hiring a CPA firm.
This is because various CPAs are not clear on providing a precise price for their services. As an example, you might run into many CPAs who will say that the cost of your return will be a certain rate and will be done on a certain timeline. But, they will often get overwhelmed in the meantime with a present tax season and get behind schedule. This in turn can cause many activities to become prolonged on the date previously agreed upon, and you should discuss this situation beforehand. In most cases, Your CPA will add on all of those billable hours you forgot about and any additional work they were not expecting to finish the return.
5. How Has The CPA Worked With And Benefited Business Owners Like Me?
Past experience will determine if this CPA will fit your business’s needs or not. Always make sure that that your CPA can cover the industry you are in and can provide you with feasible results. From an accounting and tax standpoint, not all business types are treated the same, and having a CPA firm in LAs Vegas that specializes in your area can save you time.
To sum up
Be careful. Selecting the wrong CPA firm can damage your business and bring pain to you financially and emotionally. In the end, your CPA should be experienced and knowledgeable about your line of work, in order to give you the protection you need. As a business owner, hiring a good Las Vegas CPA firm is important for making sure that your finances are in order and that all of your taxes are paid on time, so make sure you invest sufficient time in searching for the right fit.
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