financial advisor

How Much Should Your Accountant Charge for Servicing a Small Business?

If you’ve decided that hiring an accountant for your small business is right for you, you are ready to take the next steps. You’ll want to find a business accountant who you can trust and afford to represent your business. If you’re like most, your company is your baby. You’ve poured your life (and life savings) into it and have built it from the ground up. It has become a part of you and you’re not willing to let just anyone step in to handle such sensitive and important affairs as accounting is. By learning more about the process and what to look for, you’ll be much more qualified to find a business accountant.

The Bureau of Labor Statistics states that the average rate for an accountant in the United States is around $40 per hour. What you get out of those hours, however, is what will determine if your certified public accountant is an asset or a liability.

Other factors should be considered too when figuring the cost of your accounting such as:

• Extra fees incurred for such things as travel and special hardware.

• The tasks the professional is going to perform.

• How often tasks will be done and how long they will take.

For instance, you may have the best accountant in the world, but it takes him or her three times the average time to do the work, you’ll be losing money. It is imperative to consider all things.

When weighing things out to decide whether to hire a local professional or not, you probably figured the money of hiring an accountant versus the potential loss of revenue you’d likely incur if you didn’t hire one. Now, it’s time to find the accountant that will earn his or her keep and be a vital contributor to your company.

When looking to hire an accountant, search online for “small business accountant near me.” You’ll probably be swarmed with accountants so you’ll want to sift through them to find the one that’s right for you.

• Be sure your accountant is local.

• Look for reviews and recommendations.

• Check for complaints.

• Be sure that you look for information about the service on third-party sites.

• Look for stability through the length of business.

• Look on professionalism, knowledge, experience, reliability & responsiveness.

Once you have narrowed your search, meet with more than one service so you can compare. Ask the representative all the questions you can think of and have them tell you about themselves and their services in detail. Find out any hidden costs too.

Are you sure the “small business accountant near me” search checked your local area? Beware of going through the process only to find the service isn’t really near you.

Find out exactly what the accounting service entails. A certified public accountant may offer services for:

• Tax planning and tax advice.

• Set up of accounting systems and bookkeeping.

• Tax preparation and filing.

• Creation of a personalized financial plan.

• Providing business advice.

• Auditing the books for your business.

• Small business payroll management.

• QuickBooks setup and support.

• Free accounting consultation and business formation advice.

Make sure that the service you elect to hire will be performing the tasks that your business requires and a few perks as well. The ultimate cost of an accountant is greatly determined by what is put into the job.

Finding a business certified public accountant can be complex. But following the suggestions above will save you time and trouble and will help ensure you make the best decision because a reliable accountant is one of the biggest assets you can add to your business.