While free bookkeeping and accounting tools are readily available, they aren’t always the best way to keep track of your small business’ finances. A single mistake could result in significant losses, or you could miss major tax deductions worth thousands of dollars every year. Hiring a skilled accountant is the most reliable way to ensure your business is financially healthy. Before making a final hiring decision, ask the following questions of your prospective accountant.

4 Questions to Ask Before Hiring an Accountant

How Often Should We Meet?

Building a strong working relationship with an accountant is one of the most valuable investments you can make. Of course, you’ll want to sit down with them during tax season, but you should also meet periodically throughout the year to review your finances and make sure everything is on track.

What Tax Strategies Do You Recommend?

The timing of planned purchases and other seemingly minor decisions can have a major impact on your tax liability at the end of the year. Your accountant should be able to develop a long-term strategy to minimize your expenses by taking advantage of all the deductions and write-offs you’re entitled to.

How Can I Manage My Expenses?

Effectively managing your business and taking advantage of opportunities requires an in-depth understanding of your own finances and where your money goes. Your accountant can develop a cash flow model that will teach you how to channel your resources for maximum profit.

Am I Making a Profit?

Running a business is complicated, and it can be difficult to tell where you will break even. Accountants will weigh a variety of factors to determine the point at which you start turning a profit, which can help you decide where you should invest.

Since 1985, Erie & Associates, P.C. has provided businesses throughout Texarkana, TX, with high-quality advice and a comprehensive range of valuable services. Whether you’re just starting a company or have been in business for years, you can rely on their team to handle many aspects of your finances—so you can focus on what you do best. Visit their website to browse their wide range of services, or call (903) 792-6651 to speak with an accountant today.