Hiring an Accountant for Your Business
Posted On: 25/05/21 - 0

Hiring An Account For Your Business

Questions to Ask Before Hiring an Accountant

Hiring an accountant for your business isn’t a task that you should take lightly.

A lot goes into making this difficult decision such as instinct and gut feeling but we want to make the process easier for you. We have come up with 4 questions to ask before hiring an accountant for your small business.  Based on the answers you receive, you can better decide whether this accountant would be a good fit for you and your venture.

“What Are Your Fees For Service?”

Firstly, you may come across Edmonton’s best accountant, but you need to determine whether you can afford the service to begin with. You need to determine if you’re more comfortable paying the accountant an hourly fee or on a monthly basis.  Keep in mind that a monthly fee provides more comprehensive services. Ask what accounting services would be included in that monthly rate.

“What Services do You Provide?”

Accountants tend to offer a variety of services such as preparing your year-end financial statements, monthly bookkeeping,  payroll and G.S.T. returns as well as corporate tax returns. The best part about a wide spectrum of services is that you would have one accountant to process all of these tasks for a monthly service fee.  This makes things more affordable for you in the long run, and you know what the bill is each month.

“Are You Familiar with My Industry?”

Another worthwhile question to ask the accountant is if they are familiar with your area of business?  Do they understand your industry?   Have they or do they currently have clients in your industry?  This would show that they understand the business and the special needs of that business.  For example, in the salon industry, there are unique situations.  Some staff are considered employees, and some are considered self employed.  Tips, how do they report tips?  These are important  things to know and many industries have unique situations that need to be addressed.

“Let’s Talk About Taxes”

You may have all sorts of questions when you are talking about corporate taxes.  It’s important that you have an understanding of tax deductions and what qualifies as a business expense.  Partner with someone who has patience, vast knowledge and experience to explain this information to you so you really do know what is going on in your business.

At Padgett Business Services N.W., our services are tailored to suit the specific needs of your small business venture. We understand how different businesses have differing needs. It doesn’t matter if you’re running a fitness center or a dental practice; we have extensive experience in many industries. Contact us to learn more about what we can do for your business.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297