How to engage a CPA for your small business

May 5, 2020 / /

You’ve got the best idea and the skills required for a small business. You’ve set it all up, but the looming pile of financial statements slowly start growing, and you’re at a point that you start to realize the value of having a CPA for your amazing small business. But how do you go about selecting the right one for your small business needs? 

Understanding when you need to hire a CPA is immensely beneficial, and you should know the criteria to select the right accountant for your small business. 

Every small business is different. Depending on the volume of financial transactions your business generates, you can choose to hire a full-time CPA or a CPA on a part time basis. It is key to understand where your business stands in terms of cash flow and its overall financial situation to determine which type of accountant would suit.

Hiring a full-time CPA can be too costly, and many small businesses which require some help often use a CPA on a part time basis. Sometimes, you may require special help with your accounting needs, such as during tax time or if you need some input when developing the financial plan for your business. For such events, it is highly recommended to get specialised CPAs, such as tax accountants. Most mid to top-tier accounting firms charge by the hour. Engaging a specialized accountant from these firms for a short duration is a great solution for such accounting needs. 

You can find a CPA via’s directory of CPA’s in every state. 

Throughout your search, it is useful to understand how much experience a CPA has in your area of business. This will allow you to more clearly chose the best CPA for your small business. 

In addition to understanding your potential CPA’s industry expertise, it is also useful to know how qualified your CPA is. Your CPA would have had an undergraduate degree and completes continuous learning modules to achieve their licence. For more specialised CPAs, they would have completed additional certificates, such as Accredited in Business Valuation (ABV), Certified Valuation Analyst (CVA), and Personal Financial Specialist (PFS), among others.

When looking through the profiles of potential CPAs, review the services they provide. This will allow you to match their unique offerings to your exact business needs. Also review the FAQ page on for great questions to ask potential CPA’s when interviewing them.

Once you have selected the CPA of your choice, chose the communication platform and establish the cadence of communication. Ask your selected CPA how they bill for their services and whether they require a retainer up front.

It takes a few steps, but it is worth the effort, since a CPA can truly transform the finances and operations of your small business.

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