An accountant can give you peace of mind that your taxes are done correctly, provide thorough tax planning to maximize deducitons, and will provide necessary support should you be audited. Whether you’re starting a new business or adding new ventures to your current business model, hiring an accountant for taxes can reduce the stress of tax season for your small business. If you’re starting a business in California, for example, a local accountant can assist you with navigating state-specific regulations, tax obligations, and financial planning.

Why you should hire a CPA

This variation depends on factors such as location, experience, and specialization. Clearly defining what’s needed and what’s nice to have ensures you attract candidates who can truly contribute to your team’s success. This approach also prevents recruiting pitfalls, like being swayed by impressive resumes that lack core skills. For more guidance on aligning candidate skills with job roles, explore our skill mapping resource. The Brex business account consists of Checking, a commercial demand deposit account offered by Column N.A. (“Column”), member FDIC, and Treasury and hire accountants Vault, which are cash management services offered by Brex Treasury LLC (“Brex Treasury”), member FINRA/SIPC, an affiliate of Brex.

Service-specific terms apply, including but not limited to our Brex Card Program Terms, Rewards Terms and Travel Terms. Offers contingent on using Brex services are subject to qualifying for those services. It’s also important that you make yourself available to answer any questions from your new accountant and that they have the proper resources to do their job effectively. As a successful small business owner, you’re likely always looking out for the next big step for your business. The financial expertise mazeThe problem arises when one is in a position to choose the right accountant, especially when the market has many to offer. If you are running your business as a sole proprietorship, for example, your business needs are simple and you can probably tackle your own books.

Keywords to Look for in Accountant Resumes

Check out our skills assessment tools to help you identify the right candidate for your needs. Before making a final decision, thoroughly check the candidate’s references. Contact previous employers, clients, or colleagues to gain insights into the candidate’s work ethic, reliability, and overall performance. References provide valuable information that may not be apparent from a resume or interview alone. Asking specific questions about the accountant’s accuracy, responsiveness, and ability to meet deadlines can help you make an informed hiring decision.

  • Although, as your company grows, it may be more difficult for you to keep up with the accounting demands.
  • First, determine how you plan on measuring your accountant’s success, and ensure you’re both on the same page.
  • Consider the size of your company, the complexity of your financial transactions, and the specific services you require from an accountant.
  • Additionally, ensure you comply with relevant financial regulations, such as IRS reporting requirements for U.S. businesses or IFRS standards for international operations.
  • If you don’t care as much about hiring an individual accountant for your business, you may look for an accounting firm to handle your accounting needs instead.
  • They prepare financial statements for external stakeholders like shareholders and investors, complying with standards like GAAP or IFRS.

Accountant Interview Questions

According to the US Bureau of Labor Statistics, the median salary for accountants was $77,250 as of 2021. Resume screening is a necessary step in the hiring process to ensure you focus your time and interviews on candidates who genuinely fit the role. With numerous applicants, identifying the right match can save you both time and resources.

In fact, 89% of small businesses say they’re more successful when they have a trusted advisor like an accountant or bookkeeper. If you still need help after tax season, live bookkeeping services can ensure that your financial statements are always kept up to date. If you are operating a small business with multiple employees, consider opting for a business accountant or CPA that can handle more complex financial planning.

  • If your business is not generating enough cash flow to meet your professional goals or you are ready to start a new venture entirely, selling your business might be the right move.
  • But before you start your search, it’s essential to understand what an accountant does, and whether your business truly needs one.
  • Accounting software can continue to help your small business well after tax season by helping with daily bookkeeping tasks, tracking expenses and inputting payroll data.
  • Meanwhile, in the Philippines, the salary range is between 247,034 PHP and 924,390 PHP, with a median of 477,866 PHP annually.
  • A CPA or business accountant will ensure you meet all of the application requirements and set your business up for a successful application process.
  • Ultimately, it’s up to you to know when to hire an accountant for your small business or yourself.

Hire the Right Accountants for Your Team

Find the best interview questions to assess bookkeeping candidates’ skills and knowledge. Learn how to hire the best accountant for your company with our step-by-step guide. Discover key skills, interview strategies, and assessment techniques for recruiters and hiring managers.

This frees you up to focus on the higher leverage tasks of running and managing your business. If you’re fully committed to hiring a full-time accountant instead of using outsourced accounting, we can still help. They prepare financial statements for external stakeholders like shareholders and investors, complying with standards like GAAP or IFRS. Their work is based on historical data, reflecting the company’s past performance.

An accountant can help you wrangle all of the receipts and reports to create a successful tax return. Tax audits happen when the IRS wants to review your or your business’s tax return to ensure that the data is accurate. Although this process can induce anxiety, a CPA can help streamline the process. Accountants can help you with everything from daily bookkeeping to representing you in a tax audit (if they have the proper accreditation). They are well-versed in the complexities of starting a business and can help you catch problems early on.

But for those needing accounting services and without a preference for an individual, an accounting firm is worth considering. You likely know if you need a full-time accountant or part-time help once you complete the first step. And, depending on your financial situation, you might only be able to afford a part-time accountant. For example, if you’re new to an industry and struggling to make your business model work, an accountant with relevant industry experience may have knowledge and insights to help you.