Top Things Every CPA Brentwood Wish Every Client Understood

Do you get the feeling your accountant dreads you walking through the door? It’s not just a feeling- after you leave, they’re quietly mumbling a huge list of things they wish you would learn before you came back in.

Want to get an inside look at their brains? Here are some things a CPA Brentwood wish you knew before you visited them.

Ask Questions

Above and beyond anything else, your accountant wants you to understand what’s going on with your finances. They’re not there just to fix everything for you; they want you to take a real interest and know what you’re getting into.

It’s better to call them up if you have a question. No matter how insignificant the matter may seem. Something that seems silly or insignificant to you may make your accountant help you. So ask!

This is true mostly in the case of sales tax. Not asking questions and failing to understand your big picture situation can be hazardous to your business’s financial health.

Ask questions so no tax time bugaboos sneak up on your or your CPA.

Be Proactive

On top of understanding your money, you should take action when needed. Don’t just hand things off on your CPA Brentwood they’re there to aid you, not spoon-feed you. If you see a problem with your money or taxes you should be proactive and fix it.

Now, spending the time to review your business operations on an annual basis can be a time to create opportunities for tax savings or keep your compliance in check.

Moreover, if you discover you should have been paying or collecting sales tax in the past- the best thing to do is be proactive and take steps to get into compliance because the exposure will only get worse if you fail to act.

Many business owners simply panic when they realize they have had nexus in the state for a long while. But there are available to businesses that want to deal with their prior liabilities under favorable terms.

Understand Sales Tax Nexus

Nexus is an incredibly complex thing, and most business owners realize this. However, they may not realize just how complicated it is when it comes to differences between state to state.

While you may have pawned most of this off to your accountant for a reason, it’s important to know how it affects your business.

It is always better to allow your CPA Brentwood to research the specific state laws than to try to get a high-level generic answer that may not consider your specific facts and circumstances.

Set Realistic Time Limits

Remember, you’re not the only client your accountant has. Even if you were they still have a ton of work to do to keep the business on the up. Setting unrealistic time limits causes them stress, meaning you’re more likely to encounter errors.

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Created on Mar 5th 2020 03:58. Viewed 269 times.

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