Handling the taxation works along with doing business is tough. But when you have a professional by your side to help you with your financial affairs and tax works, it will feel easier. But you cannot just hire a random person to do your business taxes, right? You have to be sure that the person you are hiring for your accounting must have years of experience in taxes and an understanding of the latest tax laws and codes. Without that, no person can become a tax expert. If you are looking for an accounting firm in Sydney, there are many. But you still need to consider some facts beforehand to be sure that the team you are hiring is a good fit for your business taxation. Not every CPA firm is the same, even though they offer similar types of services. Ensure that you are making the right hire. Wondering how? Well, in this blog post, we will share 6 green flag signs that you must look for in an accounting team beforehand to be sure that they are the right fit.
What makes an accounting firm a good fit for your business tax works?
If you are looking for a good team to manage the finances and tax works of your business, then you must look for the following signs in the team before making a hire:
1… They are qualified as a tax agent:
Even though the accounting firm you are about to hire is not a certified public accountant (CPA), they should have the adequate qualification to practice accounting. Ask the team beforehand about their accounting degree and certifications and ensure that they are adequately qualified to perform your business taxes. Also, evaluate if they are appropriately trained and have relevant experience in using the tools and software you use for your business taxation.
2… They have relevant work experience in dealing with business taxes:
You cannot hire an accounting team who does not have relevant experience in business taxes or your industry. It is a must check thing to consider before hiring an accounting firm. Any CPA firm having adequate experience for years working with a similar type of business like you will easily understand your tax works without any issues. It will allow you to give more time to your business operation as the team is well versed with the tax codes and laws of your industry with their years of relevant experience.
3… They have been recommended by trusted contacts:
Experts suggest asking your known ones about referrals while looking for a CPA firm for your business is great. If you find the team you are about to hire is in their recommended names, then they indeed are a good team. If the referral has come from someone you trust and know, you can be sure about the firm. However, experts still suggest that an interview and expertise check should be done before hiring the team.
4… They have high ratings and positive client reviews:
It is one of the essential things you should check before hiring any accounting team. Most of the CPA firms display their client reviews on their websites under Customer Testimonials. Check this section at the earliest and ensure that you are hiring the right team. Any CPA firm with a high rating is indeed a good one, but the reviews from their former customers also matter. Look for their experience and check how satisfied they are with the team. Though all the reviews may not be positive, too many negative reviews are concerning.
5… They listen to your needs and update you accordingly:
One of the most common features of a good CPA firm is that they will listen to your requirements and work accordingly to fulfil those. They will communicate with you throughout the process and therefore update you about the work they are doing. If you find the team is not communicating well with you, it is a red flag and hiring that team will be a huge mistake. Do not settle for a team who only crunches the numbers for your taxes and reports. You need to hire an accountant who focuses on your business’s growth and goals.
6… They are up-to-date with the latest tax laws and codes:
It would be a terrible mistake if you do not consider the knowledge of the accounting firm about the updated tax laws. Tax laws and codes are dynamic. They change over time, and hence, it is a must for all professional accountants to be well aware of the latest tax laws and codes. Ask the team if they are up-to-date and then make the final decision.
Conclusion:
If you are looking for a good accounting firm in Sydney for the taxation and financial works of your business, make sure that the team is a good fit before hiring them. Otherwise, it would be a mistake. And we hope this blog post will help you find the ideal CPA firm for your business tax.
