Things You Should Know Before Hiring an Accountant

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Money is the lifeblood of a business. Without it, you won’t have a business, to begin with. So it goes without saying that when it comes to your business’ finances, you want to feel confident that it is in good hands. And who better to leave it to than the hands of an accountant, right? Well, yes. But before you decide to acquire accounting services in Kearny, NJ, there are things that you need to know to make sure you hire the right one for the purposes you have in mind.

A good accountant is vital to the success of your business, but hiring the wrong one can also be detrimental to it. You and your accountant need to be in sync, especially when it comes to your business goals. After all, you have to work together to achieve those goals. But if your accountant is pointing you in the wrong directions or does not understand your vision, it’s time to look for accounting services somewhere else in Kearny, NJ.

Here are some things you should find out before settling on which accountant to hire:

  1. Is the accountant fit for the job?

Many accounting firms specialize in specific industries but that does not mean they can just take on any client from an industry they are not used to. For example, the accountant you hired to do your taxes might not be the right fit for your corporate taxes. The accountant you hired for business advice during your startup may not also be able to continuously give you the right advice when you hit a hot streak. So if you plan to hire an accountant, you should ask them whether they work with bigger or smaller businesses and whether they can keep up with the business as it grows. 

Ask them whether they are familiar with the industry of your business. That way, you can make sure that they know the laws and intricacies in your particular type of business.

  1. What services do they offer or not offer?

Most accountants will offer tax services which include auditing, tax return preparation, and responding to audits. But you should be sure to ask whether they are qualified to represent you to the IRS, like a lawyer would, should you be audited.

Some accountants offer additional services such as:

      • Bookkeeping
      • Overseeing Financial Transactions
      • Explaining Financial Transactions
      • Business Valuations
      • Due Diligence
      • Managing Business Investments
      • Compiling Investor Reports or Annual Statements

If all the services you need are already there, then there’s no need to look for a different accountant for your other business needs. But you might also want to find a different accountant offering more of the services you need if the ones on the list are not what you need.

  1. Do they have global expertise?

If you are conducting business internationally, you need an accountant with global expertise. This way, you won’t have trouble with international tax codes and the like. You will also need someone who knows how to do transactions in multiple countries.

  1.  What are their fees?

Not all accountants charge the same way. Some accountants charge by the hour, and some may offer you a flat, project-based fee. If you want, you may ask to see some sample client invoices to help you better understand how the accountant’s fees work.

Looking for the right accountant takes time, but once you finally do, it will be well worth your efforts. Now, if you are looking for one in Kearny, why not choose Nicholas J. Coco, CPA. He is an accountant offering tax services and various accounting services in Kearny, NJ. As a trusted accountant in the area, you can rely on him to provide you with the accounting services you need.

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