1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax - Business Fundamentals - Selecting the Right CPA for Your Business

1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax Selecting a CPA That Fits Understanding the role of the CPA is the first step to choosing a CPA that is the best fit for your business. Would you just grab the first person you saw on the street and give them access to you finances? Selecting a CPA is as important as choosing your bank. After all, aren't they going to be responsible for protecting your assets and ensuring you make a good return on your investment? CPAs are more than just individuals who prepare your taxes annually. They can advise you on a long list of other services, which may include advice on your accounting system, financial, retirement, estate and tax planning. CPAs are part of a business owner's professional team along with a banker and a lawyer.

1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax 10 Tips to Consider When Selecting a CPA 1.Ask for Recommendations - Your local Chamber of Commerce will tell you the names of CPAs who are members. When you attend any type of meeting, or meet other business owners, ask for CPA recommendations. 2.Know What You Want - Find out what area the CPA specializes in. Do you want someone who is good with property or investments, taxation or financing? If you're a business owner, pick a CPA who has 60% of their business coming from business owners like you. The CPA will be more apt to keep up with the laws regarding clients they deal with most often 3.Interview CPAs - Interview at least 3 CPAs. Don't rush this decision. Make sure you have the best CPA and bookkeeper for you and your business. Ask what type of services they do for their clients, how long they've been in business full time, and for references. Don't forget to ask to see their license. Ask them about the benefits of choosing them over another CPA.

1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax 10 Tips to Consider When Selecting a CPA Cont. 4.Corporation vs. Individual - Are you interested in hiring a corporation of CPAs or a CPA that has their own business? If you opt for the corporation, find out if you'll be dealing with one particular person, or will it be whoever answers the phone when you call. It's best to have one person to build a relationship with! 5.Find Out What They Expect of You - Some CPAs want you to set everything up to fit in with them. That's great just so long as you stay with them for life. Find out what you will have to do to satisfy their desire for ease and make sure it is the way you want to run your business. 6.Bring Your Records to the Interview - Bring a copy of at least one year's tax return when you interview a CPA. This way your prospective CPA can give you educated "guesstimates" as to what their services will cost you.

1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax 10 Tips to Consider When Selecting a CPA Cont. 7.Rates - Ask about their rates and what those rates include. If they have a rate chart, all the better! Also, ask what their hourly rate is and what the cost would be to answer questions during the year. 8.When do they work? - What are their hours of operation? Make sure that you can call them at hours that are convenient for you. 9.Record Keeping – If you want to save some money, ask how they want your paper files.... If you bring your files to them in shoeboxes (hey, many folks do), you will pay to have all that deciphered! You can save money if you separate the information the way the CPA suggests.

1415 M ain Street, S uite L l1  D allas, T exas O ffice  F ax 10 Tips to Consider When Selecting a CPA Cont. 10.Accounting Software/Programs - Ask what computer program they prefer you use for your record keeping and why they prefer that program. Many times, if you use the program they suggest, it can save you some money because they can use your data files. Some even have programs they'll set up especially for you!

Small Business Resources ACPAAO - CPA Associates International AICPA – American Institute of CPAs Arlington African American Chamber of Commerce Arlington Chamber of Commerce Arlington Hispanic Chamber of Commerce Black Contractors Association Dallas Black Chamber of Commerce Dallas Fort Worth Minority Business Council Dallas Hispanic Chamber of Commerce Fort Worth Hispanic Chamber of Commerce Fort Worth Metropolitan Black Chamber of Commerce Greater Dallas Asian American Chamber of Commerce & Asian Contractors Association Greater Dallas Chamber of Commerce Regional Hispanic Contractors Association Houston Minority Business Council National Association of Minority Contractors, Houston Chapter NAWIC – National Association of Women in Construction NMSDC – National Minority Business Development Council TAMACC – Texas Association of Mexican-American Chambers of Commerce US Pan Asian American Chamber of Commerce – Southwest Women’s Business Council - Southwest