FAQs

Frequently Asked Questions

My CPA/Accountant does not respond to my questions. What should I do?

Please contact your accountant and check on them, the reason behind it. There can be several reasons, one of them can be the engagement you signed with them. Please check if that includes consulting service, and does it include response time. Please check with you CPA directly and if they have no good reason not to take your call, it's time to change your CPA for good.

I do not need all the advisory and consulting services - just need bookkeeping sorted out and do my taxes, do you help with that?

Yes, we are not specific on what type of service we do, but we are specific about the clients we work with. If we are a good fit, on mutual understanding we can tailor our services according to your needs. After all, we are here to help you to achieve your financial goals. If you are good with it, we are good.

I want to expand my business, sell it and retire in the next ten to fifteen years. How can you help?

Business is your expertise. Tax planning and business structuring is our expertise. We work with you to explore tax planning and saving opportunities. keep you away from unnecessary IRS notices and hassles. We provide you confidence and knowledge base by being on your side so you can fully concentrate on your business without worrying about your accounting, compliance and tax issues. We will work with you to structure your business in most tax effective ways, not only to save taxes while running your business but also to save when you sell it. We will plan together to put money in retirement funds, so that you can enjoy retirement earnings.

My business is expanding and my local CPA is not able to handle it. What should I do?

If you are out growing your accountant. It is time to find someone that fits your needs. Look for a referral from your friends or business partners who have similar types of business with about the same revenue. Referral is a good way to save time experimenting with a new accoutant. Another way is to find a CPA online via their website. Check them and get in touch and talk to them and find out if they are a good fit for you. Since, you will be working with them very closely, your value and vision should align with your accountant to go the long haul.

I am confused about what services I need and what will be the cost. How do I find it?

Contact a good CPA, and talk to them. They will figure out what you need based on your goals, values and visions. Each of us are very unique and there is no custom made advice for all at once. There is only one copy of you so each business is unique since it is run by a unique person. Business has the same values, vision and perspectives as the person behind it has. A good CPA will tell you exactly what you need, and the fee they charged. Listen to them very carefully if they are just trying to secure your business or they really mean to help you. 

I do not understand how CPAs charge. How do I make sure that I am paying a good price for the service?

Some CPAs charge on an hourly basis that ranges from $200 to $500 depending on the location, industry and complexity of the consulting or service. Some charge fixed prices on retainer basis for the year. Some have value based pricing models. Whatever the method they adopt, it is you who decide if you are getting value for your money. If you feel you have or will benefit from the service, that is worth it. If you feel you are not getting value out of it, definitely you are paying more than you should. It is not about the price you pay, but it is about the value you get and price is in your mind. You go to experts, they will charge more. You go to a regular tax preparer and they charge less. Take an example of a doctor, you go to a specialist to a private clinic, they charge you more even if you have a mild cold. If you are really sick but if you go to a community hospital, they charge you less. Therefore, it depends on where you want to go, and who you want to see.

Is it good to have a local CPA or it is ok to have someone remote?

It is always good to have a local CPA if you want to see them in person. However, if you are not going to meet them in person, and ok with online communication media like zoom meetings, it does not make a difference where the CPA is stationed. However, you must find out how familiar CPA is on state rules and regulations. Since you will be dealing with state rules throughout the years for regular business transactions than Federal rules most of the time.