As a new business owner, navigating the complexities of accounting and taxation can be daunting. While online accounting tools offer convenience, consulting with a Certified Public Accountant (CPA) is crucial to avoid potential IRS issues in the future. Knowing the right questions to ask an accountant can make a significant difference in managing your business finances effectively.
Here are key questions to ask when evaluating a business accountant’s services:
General Questions for Business Accountants
1. How often should we communicate, and what is the preferred method of communication?
2. What services do you provide, and how can you help develop my business?
3. Can you assist in creating an organized cash flow model and determining a break-even point?
4. Do you have experience in addressing specific accounting needs unique to my business?
5. What information do I need to provide for you to perform your duties efficiently?
Starting a New Business: Key Questions for Accountants
1. How should I structure my new business, and what are the tax implications of each structure?
2. What are the best funding options for my new company, and how can I evaluate them?
3. Can you provide projections based on expected income and expenses to assess the viability of my business?
4. What exit strategies should I consider, and how can I plan for future growth and investor capital?
Specific Business Operations and Taxation Questions
1. How should I organize my books, and which accounting system (cash basis or accrual basis) is suitable for my business?
2. Are there specific tax laws or incentives relevant to my business that I should be aware of?
3. Can you handle corporate taxes, personal income taxes, payroll taxes, and sales taxes for my business?
Viking Funding Can Assist Your Business
At Viking Funding, we understand the importance of financial stability for new businesses. We offer merchant funding opportunities with favorable terms to help aspiring entrepreneurs succeed. Call 754-812-9181 today or fill out an application form to explore how Viking Funding can support your new venture.
