Today DH & I met with a CPA / Pension Consultant to discuss his self-employed retirement plans. We got some really terrific guidance, and it was definitely worth the time and cost. This is something I've been wanting DH to do for a couple years, and I'm so glad he finally agreed to do it.
He was reluctant because back when he set up his business he did hire a CPA to "do his books" regularly but we relaized all she was doing was recycling the information he was inputting to QuickBooks, and when he did ask her for advice what she told him wasn't very helpful. Since then, he hasn't hired a CPA for anything.
The woman we met with today was an entirely different story ... As DH said, "She is as sharp as my pencil."
The difference between a so-so, inexpensive CPA and a sharp-as-tacks but more expensive one is night and day. Just because a professional's hourly rate is higher doesn't mean they will end up costing you more. A well-qualified professional will be able to get the work done in a fraction of the time and probably save you money on top of doing a better job.
Good Accountants Worth Their Weight In Gold
September 5th, 2007 at 06:21 am
September 5th, 2007 at 02:08 pm 1189001313
I think if you are a business owner a good CPA is crucial. Even if you only meet with them once every few years (though it may be cheaper in the long run to stick with one all the time). These days is harder, it is 100 times easier to become a CPA today than it was just 5 years ago. I hate to say it, but go with the older ones. (With more experience to boot). With the younger crowd you can get a CPA without knowing crap about accounting except what you memorized for a test. There is just no longer the experience factor.
September 5th, 2007 at 05:37 pm 1189013825