Interviewing a CPA for Your Dental Practice: Key Questions

As a dental practice owner, you need a certified public accountant (CPA) who understands your business and can help you navigate financial complexities. Hiring a CPA is a crucial decision, which requires thorough consideration and evaluation. In this article, we will discuss seven critical questions that you should ask when interviewing a CPA for your dental practice.

What Is Your Experience Working with Dental Practices?

When selecting a CPA, you want someone who has experience working with dental practices. Ask the CPA how many dental practices they have worked with and for how long. You can also ask for references from other dental practice owners to learn about their experience working with the CPA. A CPA with experience working with dental practices will have a better understanding of the unique financial challenges and opportunities in the industry.

What Services Do You Offer?

CPAs offer a variety of services, including bookkeeping, tax preparation, financial planning, and consulting. It is essential to understand what services a CPA offers and how they can help your dental practice. For instance, if you need help with tax planning and preparation, you want a CPA who specializes in this area. On the other hand, if you need help with financial planning and forecasting, you want a CPA who has experience in this area.

What Are Your Fees?

CPAs charge different fees based on the services they offer and their level of experience. It is essential to understand how much a CPA charges for their services upfront to avoid any surprises later. Ask the CPA how they charge for their services – is it hourly, project-based, or a flat fee? Also, ask if they offer any discounts or payment plans.

How Do You Communicate with Your Clients?

Communication is crucial when working with a CPA. You want a CPA who is responsive, accessible, and easy to communicate with. Ask the CPA how they prefer to communicate with their clients – via phone, email, or in-person meetings. Also, ask how often they will communicate with you and how quickly they will respond to your inquiries.

How Do You Ensure Confidentiality?

As a dental practice owner, you deal with sensitive financial information that must remain confidential. When hiring a CPA, you want to ensure that your financial information is secure and protected. Ask the CPA how they ensure confidentiality and what measures they have in place to protect your financial information.

What Is Your Approach to Tax Planning and Preparation?

Tax planning and preparation are critical for dental practices, and you want a CPA who can help you minimize your tax liability and maximize your deductions. Ask the CPA about their approach to tax planning and preparation. For instance, do they take a proactive approach to tax planning or only focus on tax preparation? Do they stay up-to-date with the latest tax laws and regulations?

How Do You Stay Up-To-Date with Changes in the Industry?

The financial landscape is constantly changing, and it is essential to have a CPA who stays up-to-date with the latest industry trends and regulations. Ask the CPA how they stay current with changes in the industry. For example, do they attend industry conferences and seminars, read industry publications, or participate in professional development courses?

Conclusion

Hiring a CPA is a critical decision that can impact the financial health of your dental practice. Therefore, it is essential to ask the right questions and evaluate the CPA’s experience, services, fees, communication, confidentiality, tax planning, and industry knowledge. By doing your due diligence and selecting a qualified CPA, you can ensure that your dental practice is in capable hands and that your financial goals are met.

Looking for reliable and expert dental accounting services? Look no further than Ash Dental CPA! We specialize in providing top-notch accounting services for dentists, including buying, selling, and valuing dental practices. Contact us today to schedule a consultation and see how we can help your dental practice thrive!