On this episode of the Funny Money Show, Ashley Altum assures all of us that asking your CPA, Bookkeeper, Accountant, CFO, or whatever title is helping you with your finances, is in fact the smartest move for you and your business. In fact, they hold the key to all of your success! Okay…that might be an exaggeration, but an accountant is so much more than just someone who does your taxes. Listen to the full episode below to find out the questions you should be asking your CPA. Listen here for the FULL EPISODE
So what exactly SHOULD you be asking? If you’re anything like me, Colleen Lotz, co-host of The Funny Money Show, then you would have no clue the ways your CPA can truly help your business. Here is a list of questions you can and should ask:
- If you have an in-house accountant, what is his/her schedule? When will he/she work on certain tasks? This is a great starting point so you know specific information
- If you use a virtual firm or outsource your accounting, how often will you be able to talk to them? What is the best way to get in touch with each other? This conversation sets expectations of when you will be communicating and how
- How can my accountant help me on an ongoing basis?
- Can you help me grow my business by putting together sales projections?
- Can you help me figure out my cash flow? If you need a refresher in cash flow, we got you right HERE
- What do we need to do now to prepare for the end of the year?
- Can we buy any new assets? Can we afford assets, for tax purposes, should we buy now or later?
Other AMAZING things your account can do for you:
- Plan your budget and help you with your vision
- Assist in negotiating prices
- Can tell you if you can/need to hire employees
- Will tell you if you are able to spend money on marketing/advertising
- Can tell you how much your business is worth
- If you have a 10-year plan (or any amount of plan for that matter) your accountant can help you achieve that goal
- Can tell you how much you need to sell in order to stay in the green and break even
Basically, your accountant is your lifeline to your business’ success! I had NO idea how important having an accountant truly is, but thankfully I have this podcast to show me the way and point me in the right direction. If you need assistance heading down the right path AKA hiring the perfect accountant, please contact Ashley Altum with Profit Matters to get you on track!