Top 5 Questions to Ask When Hiring a Dental Accountant
If you’re in the dental industry and looking to hire a Certified Public Accountant (CPA) to manage your finances, asking the right questions is important. This article will provide insight into the questions you should ask a potential CPA to ensure they are the right fit for your business.
By understanding their qualifications, experience, and services, you can make a more informed decision when selecting a CPA to help manage your finances. Having the right CPA on board is essential for the success of any business, so it’s important to take the time to find one that is well-suited to your needs.
At first glance, accountants could all appear to be the same. The person you employ to assist you with your taxes must be careful as a dental business owner. The first step in finding a dental CPA is to ask the correct questions. Use these questions to direct your search if you’re looking for a CPA for the first time or thinking about switching accountants.
1. How Is a Dental CPA Necessary?
Consider why you require an accountant before contacting potential clients. Make a list of why hiring a financial expert is necessary for your company.
Are you seeking help with payroll? Tax preparation and planning? Suggestions on managing money? Or simply hiring someone to handle your dental bookkeeping duties? Several dental office management services will probably be required.
When you know exactly what you need, you can focus your search for a dental CPA candidate by only evaluating individuals with experience in the most critical areas.
2. Does the Accountant Have Prior Dental Office Experience?
It is essential to determine the CPA’s previous experience working with dentistry practices while researching a possible accountant. Like many other professions, dentistry has quirks, laws, and restrictions. Working with a dental CPA knowledgeable about the sector will help you make the most of any available tax benefits or deductions.
Every dental office has a different approach to tax preparation. You might, for instance, employ both full-time employees and contract workers, which necessitates using various filing forms. Or perhaps you invested in new office supplies or equipment to be eligible for tax breaks. An experienced dental CPA will understand how to take advantage of those.
Your company could lose thousands of dollars annually if you attempt to handle your taxes alone or if your present accountant for a dentist is not knowledgeable about the dental sector.
3. Is a CPA for Dentistry a Proactive Business Associate?
How a CPA interacts with you and your company throughout the year is a crucial indicator of their abilities. A dental CPA that views you as a partner will communicate with you regularly throughout the year, be accessible for inquiries, and be glad to assist you in making informed decisions.
Your CPA might not be your best business partner if they are only available during tax season, and you have to follow up with them to gather information.
A dental CPA can help you with more than just getting ready for April 15th. As decisions you make at any time during the year may impact your file, tax planning discussions should go on all year. So, hiring a proactive accountant might make it easier to design wise tactics and cut losses.
4. Have You Ever Held a Managerial Role?
There might be several locations for your practice. Or maybe you want to develop in the future. It’s critical to ascertain whether the dental CPA you’re thinking about has experience in this area.
You can get assistance starting a new practice or buying an office from a dental accountant with experience managing numerous clinics. They can act as your financial advisor in the dental sector as your company expands and assist you in making wise choices.
5. What Is the Procedure for Auditing?
Everyone dreads getting a letter about an IRS audit. You should always work with an accountant if you are the subject of an audit. Before considering employing a CPA, learn about their payment policies, auditing procedures, and what they would do to assist you with the audit.
Conclusion
When hiring a dental CPA, it is important to research and ask the right questions to ensure you make the best decision for your dental practice. Asking questions about their experience, specializations, fees, and services will help you determine if they are a good fit for your needs. Ultimately, you want to find a knowledgeable, reliable CPA with the resources to help your business succeed. With the right questions, you can be sure to make the proper decision in choosing the right dental accountant for you and your dental practice.
The Ash Dental CPA client’s office is a fantastic place to provide accounting support for dental CPAs. We can assist you with all facets of dental accounting, including buying, selling, and valuing dental practices. Contact us immediately to discuss further requirements for a dental startup with one of our practice management experts. For a dental accountant, get in touch with us!
