A CPA Can Be Your MVP
Question:
I’m starting a new business and am in need of a CPA.
What should I consider when interviewing these professionals?
A: Great question as a good certified public accountant, or CPA, can provide valuable insights to address your finances and tax situation. Below are some tips to consider:
- Understand your specific tax and accounting needs. Know the scope of work you want your CPA to address as they typically conduct accounting, tax and audit work. Generally, the daily accounting is best handled by an experienced bookkeeper whereas the business evaluation and tax strategy is suited for a CPA.
- Shop local and ask about industry experience. There’s value in sitting down with your CPA in person to go over your personal needs and to ensure alignment with your business goals. Ask the CPA about their tenure and the experience they’ve accrued over the years that’s specific to your business.
- Availability. What you are paying for is tax advice; not just a tax preparer. Make sure your candidate has time to offer up tax advice that you can implement. A good CPA should ask lots of questions to understand your personal and business goals.
- Look beyond the resume: A CPA should be someone you feel comfortable with, trust and have confidence in. Ask for referrals and talk with people in the community who they value.
You can check off most of these items prior to your meeting — and a casual conversation with your potential CPA can speak volumes toward a strong working relationship.
About the Expert:
Dave Grotjahn is a business adviser with Central Oregon Community College’s Small Business Development Center (SBDC). He is a retired senior finance leader from Boeing Commercial Airplanes where he led investor relations, estimating & pricing and financial planning teams across many programs. He also supports Habitat for Humanity as a financial mentor, assisting clients in attaining home ownership.
The SBDC offers free, confidential professional business advising and a variety of low-cost courses to help entrepreneurs through the business lifecycle.
