When you’re running a business, your accounting needs are unique. In your search for the right CPA partner, it’s important to find a firm that understands how your business success affects your personal financial situation as the two are entwined.
At ARR & Co. we’ve been helping businesses and their owners navigate their accounting and financial well-being for 30+ years. The following advice comes from decades of serving clients running all types of businesses spanning a variety of industries.
An Active Listener Asking Comprehensive Questions
As with most business relationships, a great one is built upon good communication and interpersonal skills. When we initially talk with clients, it’s our role to ask comprehensive questions to understand the full situation and their needs. Then we listen. Carefully.
Accreditation, Licensed & Experience
You want deep experience in complex personal tax returns along with business accounting. It’s by looking at your full financial picture that a licensed and experienced accountant can provide you the most assistance. Accreditation ensures they have the training and tools to remain current with ever-changing tax law.
Relationships with Other Professionals
A seasoned business accountancy firm will have relationships with other professionals such as estate planners, financial advisors, attorneys, and actuaries for retirement planning. Managing your personal and business finances requires a holistic view and from time-to-time, you may need a specialist.
Revealing financial information and personal details may feel awkward at times. That’s why it’s important that you feel comfortable and confident with your Business CPA partner. Open communication, based on mutual trust and understanding, begins knowing that your personal information is held in confidence by your CPA.
If businesses hadn’t embraced the digital age before Covid-19, it’s now a fundamental requirement. Make sure when sharing information via technology that it uses encrypted protocols. For example, at ARR & Co we’ve used SmartVault, a portal where clients can upload and download files safely and securely, for over a decade. We’ve transformed our offices to be paperless without losing the personal touch of service.
Proactive vs. Reactive
A great CPA partner will be actively looking for solutions for you and your business even before you may be aware of an opportunity or emerging issue. Your CPA should respond to your immediate needs as well as seeking out ways to help you can minimize taxes, improve profitability, accurately forecast, and save for future events like capital expenditures or retirement planning.
A Support Team
One of the many benefits of working with an experienced Business CPA firm is the personalized support you receive from your primary contact as well as their team. Knowing there is always someone available to answer a question year round — especially if it’s urgent — is priceless.
On-Call Advisory Services
Should you lease or purchase a company vehicle? Is an S-Corporation or Limited Liability Corporation the best structure for your business? Should you create a SEP or other type of business-funded retirement account? These are just some of the questions we can answer for you. Benefit from our 30+ years of experience to get the answers to what you need exactly when you need them.