Hiring a CPA or tax accountant for you construction business is as critical as hiring a supervisor on the job site. Not all CPA’s or tax preparers understand construction and when they don’t your books could be in as much of a mess as your job site would be if you hired a supervisor with no experience!
In that perfect world, your company wouldn’t need a CPA. We would all just pack up our adding machines, green eyeshades, and armbands and move on to other professions.
But, that isn’t going to happen, is it?
In fact, the regulatory environment is headed in the other direction. States are looking for revenue, there are three or four new federal tax acts each year, and GAAP is going global. These current and future changes will make the role of your company’s CPA more important – not less.
But, that role can vary widely, even among contractors of similar size. This article provides a framework as well as specific tools you can use to ensure that the CPA you select is the right fit for your company.
The person or firm proposing services to you will present themselves in the best light possible. So, once you have narrowed the field on the type of CPA you need, how do you decide which one will be the best fit for your company?
Let’s assume you have properly identified the type of CPA your company needs and have decided to interview three prospects. Each one will show up at your office, pants pressed and shoes shined, ready to tell you how they are not only the best firm for you, but that they have the industry knowledge to be efficient, effective advisers to your company.
You will listen to their pitches, page ahead to see the fee schedules, and check references. But, at the end of that process, how will you really know which is the best CPA for your company?
Download this 8-page article from the Construction Financial Management Association (CFMA).