Tips for Hiring a CPA

So you have reached the point where you are ready to hire a Certified Public Accountant (CPA) to assist you with certain financial aspects of your life. The first thing you need to realize when you start searching for a CPA is that not all CPAs are equal. CPAs often have expertise in differing areas of accounting, and some are better than others in specific areas. There are certain steps that you can take and various traits to look for to make sure that you find a CPA that is good at what they do and also one that is a good fit for you and your specific situation.

1. Do your research

Ask family, friends and other professionals you work with if they work with a CPA and if they would recommend that CPA to you. Find out what types of experiences they have had with this CPA and if they would be able to help you with your specific needs. It’s also wise to conduct an internet search for CPAs in your area. Check out various firms’ websites and also check for complaints online or with the Better Business Bureau.

2. Meet with more than one CPA

Once you have narrowed your search down to two or three, make sure that you take the time to meet each potential CPA in person or at least talk on the phone with each individual before making any decisions.

3. Experience

Ask the CPA about their personal experience in dealing with the specific services that you are seeking. Also ask if they specialize in any specific areas. If they are young, ask about their education and experience but also ask about the level of experience of the firm’s staff in general. Depending on the services that you are looking for the CPA to provide, a younger CPA may be able to provide them to you at a fraction of the cost of a more senior member.

4. Comfort level

Make sure that you are comfortable communicating personal financial details to the CPA; you don’t want to withhold any details that the CPA may need to effectively help you. Also make sure that the CPA communicates with you in a way that you understand and feel comfortable with rather than speaking in technical industry jargon.

5. Cost

Ask what their fees are and how much the services you are seeking typically cost. Compare the costs of each CPA you meet and but don’t make a decision solely based on cost.

6. IRS assistance

Ask if the CPA will be willing to work with you if the IRS comes knocking at your door (the answer should be yes!).

7. Company capabilities

Ask how large the firm is and what their research and continuing education capabilities are. You want to make sure you are selecting a CPA who has the proper support structure to keep the CPA current on all changes in the laws and planning ideas.

CPAs are typically one of the most trusted advisors an individual will work with in their lives. Even though the process of hiring one may be a bit time consuming, performing a little due diligence up front can pay off greatly in the long run.

Wipfli Financial Advisors, LLC (“Wipfli Financial”) is an investment advisor registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940. Wipfli Financial is a proud affiliate of Wipfli LLP, a national accounting and consulting firm. Information pertaining to Wipfli Financial’s management, operations, services and fees is set forth in Wipfli Financial’s current Form ADV Part 2A brochure, copies of which are available upon request at no cost or at www.adviserinfo.sec.gov. Wipfli Financial does not provide tax, accounting or legal services. The views expressed by the author are the author’s alone and do not necessarily represent the views of Wipfli Financial or its affiliates. The information contained in any third-party resource cited herein is not owned or controlled by Wipfli Financial, and Wipfli Financial does not guarantee the accuracy or reliability of any information that may be found in such resources. Links to any third-party resource are provided as a courtesy for reference only and are not intended to be, and do not act as, an endorsement by Wipfli Financial of the third party or any of its content or use of its content. The standard information provided in this blog is for general purposes only and should not be construed as, or used as a substitute for, financial, investment or other professional advice. If you have questions regarding your financial situation, you should consult your financial planner, investment advisor, attorney or other professional.

Karl Schwartz

CPA, CFP® | Senior Financial Advisor

Karl Schwartz, CPA, CFP®, is a Senior Financial Advisor in Miami, FL, and in Media, PA. Karl specializes in comprehensive financial planning and investment management for high-net-worth individuals and families. He also focuses on planning matters related to same-sex couples and healthcare professionals and practices.