With the federal tax filing deadline fast approaching, more business owners realize that filing their taxes alone is more complicated than it’s worth. Most entrepreneurs are out in search of tax preparers that can help them file their returns. As a strategic business consultant, a certified public accountant is best suited to advise on taxes and accounting matters.
Did you know that Oklahoma City’s sales tax rate is 4.13%, with the minimum combined sales tax rate value being 8.63%? A CPA must receive advanced training and pass rigorous state tests to show their competency in understanding taxes, accounting, and a range of business topics.
With over 658,267 actively licensed CPAs to choose from, it can be challenging to narrow down to the best match. Here are five key factors to keep in mind when picking out your certified public accountant.
The first step would be to analyze the business size and scope of your tax filings. If you sit behind your QuickBooks clueless about where to begin, that may be a clear sign that you need to hire a pro. Are you out in search of a CPA firm or an individual accountant? Setting your goals right from the start can help you find the right fit for your business.
You may need to find a certified public accountant that is fully licensed and with good standing with the state. Does the tax pro have valid PTIN for the year in question? This is a unique, valid identification number issued by the IRS to any individual preparing tax records for compensation. You can verify their certifications from your state board accountancy. Being a member of a reputable professional organization is a plus.
Another vital criterion to sift the best CPA from the rest is through analyzing their industry’s experience and specialty. Is the certified public accountant well versed in regulations in your industry and specific filing requirements? There are different licenses provided to tax professionals depending on their scope of work, including.
Analyze the complexity of your case a find the right fit for your business.
Most business owners remain confused about where their bookkeepers’ role ends and where the accountants’ kicks in. Bookkeeping deals mostly with data entry tasks that record your company’s incomes and expenses through financial software. A certified public accountant provides a detailed and strategic analysis of your financial data. Most CPA accounting firms will offer various services, including bookkeeping, accounting, tax filings, planning, and business consulting. Make sure you fit all your needs in your search criteria.
You may need to find a CPA in Tulsa, OK, that you can effectively reach out to any time you need financial advice. One of the best ways to analyze their service quality is by asking and checking out references. You can also ask for recommendations from other business owners within your industry. You can also scour online reviews as part of your homework.
Tax preparation may push you to find a CPA that matches your business ideals. Interested in finding a certified public accountant in Tulsa, OK? Reach out to Brown, Chism & Thompson. Our experts are ready to address any questions you may have about bookkeeping, accounting, or tax preparation.
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