Whether you’re manufacturing high-tech parts, distributing food products, or building luxury homes, growing a business is all about relationships.
Building and growing your network is so important that “it’s not what you know, it’s who you know” ought to be the official motto of small/medium sized business owners and entrepreneurs everywhere.
But the importance placed on business relationships should also extend to those professionals advising you as you progress.
We believe that one of the most important professional relationships you can have in business is with your CPA. They should be on hand to provide you with advice regarding tax, growth, and planning. And they should definitely make sure you aren’t paying a cent more than you need to when the IRS comes calling.
So, how do you know if you have the right CPA? Here are a few things that might suggest it’s time to look elsewhere.
You’re Paying Too Much Tax
If you think you’re paying too much in tax, then there’s a good chance you are. Particularly if your relationship with your CPA extends to only one or two emails a year and an invoice.
When you aren’t being offered proactive tax planning advice throughout the year, then you aren’t truly taking advantage of the various initiatives and opportunities afforded to you from the government. This can only result in you paying more tax than you perhaps need to.
You Don’t Feel the Love
If you’re with a middle market firm and you’re being treated as a commodity, then you’re not going to feel the love. No-one wants to be treated as just another name and number. You need to have a personal connection with your CPA to really make the most of your business relationship.
We believe a strong working relationship with a CPA should involve trust and understanding. Your CPA should know what makes you and your business tick to help you make the most of your financial opportunities, all while steering your clear of any potential pitfalls.
You’re Not Being Advised Properly
If your CPA is a little wet behind the ears, then you won’t be getting the most out of your working relationship. Sure, they might be very technically proficient when it comes to preparing financial statements and completing tax returns, but could their lack of real-world business experience be hindering your own business?
A truly valuable adviser is one who has been there and done it. As your business grows, you’ll want someone in your corner who can spot both opportunities and threats from a mile off.
At Whittaker & Company, We Care
Some of these points may have you second-guessing your current situation. If so, we are ready to take your call. We’ve been around since 1999, so we know how to add value to your business with our expertise and experience.
We’ll make sure the transition is painless, and going forward you’ll enjoy either monthly or quarterly relationship meetings as we look to further understand you and your business.
At Whittaker, we value a consultative relationship over a transactional one. If you’re experiencing difficulties with your business, we can root out and treat the cause, not just the symptom.
Time to Make a Change
Contact us today and we’ll set the ball rolling. First, we will look over your current financial situation and historic statements, before benchmarking your business against your industry.
We can then pinpoint any issues we believe your business is encountering, before devising a plan of action to help you fix them and move forward with confidence.
If you believe you’ve outgrown your current CPA, contact us and one of our friendly advisers will be in touch with you.
Tax returns, financial statements, IRS communications and similar items are vital to address and process, but they should not be the focal point. Think of these as tasks to get to the real work, which is providing you the information you need and an interchange of ideas to move you forward. The goal is to help you implement your strategies and vision. This is what we do!