Comments on: My Experience Selecting a CPA http://www.productivity501.com/my-experience-selecting-a-cpa/370/ Pieces of the productivity puzzle. Thu, 09 Feb 2012 01:55:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Nichelle Stephenshttp://www.productivity501.com/my-experience-selecting-a-cpa/370/comment-page-1/#comment-10922 Nichelle Stephens Sun, 11 Nov 2007 23:45:29 +0000 http://www.productivity501.com/my-experience-selecting-a-cpa/370/#comment-10922 You make a good point, but tax attorneys are way more expensive. Even cheaper is using Turbo Tax just to get an idea of your taxable income and then reveiewing your expenses to see what is deductible on your Schedule C. I am a bookkeeper, not a CPA, but I often know more about what can be deductible than my client's CPA. You make a good point, but tax attorneys are way more expensive.
Even cheaper is using Turbo Tax just to get an idea of your taxable income and then reveiewing your expenses to see what is deductible on your Schedule C. I am a bookkeeper, not a CPA, but I often know more about what can be deductible than my client’s CPA.

]]> By: Melissahttp://www.productivity501.com/my-experience-selecting-a-cpa/370/comment-page-1/#comment-10592 Melissa Thu, 08 Nov 2007 19:41:22 +0000 http://www.productivity501.com/my-experience-selecting-a-cpa/370/#comment-10592 www.fairtax.org http://www.fairtax.org

]]> By: Mark Sheadhttp://www.productivity501.com/my-experience-selecting-a-cpa/370/comment-page-1/#comment-10395 Mark Shead Tue, 06 Nov 2007 14:57:50 +0000 http://www.productivity501.com/my-experience-selecting-a-cpa/370/#comment-10395 @Tammy - Thanks for the advice. I actually followed most of what you suggested. I called the larger accounting firms and asked who specialized in my industry with my size of business. Granted, I am in a very small town so people probably tend to be generalists at everything. I imagine some of them do accounting work in exchange for tomatoes and chicken eggs. :) @Tammy – Thanks for the advice. I actually followed most of what you suggested. I called the larger accounting firms and asked who specialized in my industry with my size of business. Granted, I am in a very small town so people probably tend to be generalists at everything. I imagine some of them do accounting work in exchange for tomatoes and chicken eggs. :)

]]> By: Tammyhttp://www.productivity501.com/my-experience-selecting-a-cpa/370/comment-page-1/#comment-10302 Tammy Mon, 05 Nov 2007 13:56:05 +0000 http://www.productivity501.com/my-experience-selecting-a-cpa/370/#comment-10302 What an ordeal. I have to admit, I find your experience frustrating as well, especially since I work for a CPA firm. I'm not yet a CPA, but hopefully by the end of next year I will have passed the exam(s). It is true, you really do need to know if you want a tax preparer or a CPA. There is a major difference. In response to your dillema, however, and assuming you choose to find a CPA, may I suggest the following: First look for a firm that specializes, or at least focuses in your industry. Second, if they will not consult with you for free (no advice, only consultation) don't bother, unless you are asking for and leaving with tax advice, your appointment should not cost you. Third, prior to your meeting with the CPA, and if you plan to pay for advice, give them a list of questions you have, that you would like answers for. If, after you have taken these steps, you still get the run around, find another CPA. While CPAs do have resources that can be used for researching specific topics, these resources still require knowledge, time, and patience. I have a complete Internal Revenue Code setting here at my desk, it has over 9,558 pages (8 point font). The last code section is numbered 9832, which does not include any of the numerous subsections in each code. That's a lot of laws to have in memory, for anyone. Any CPA that knows everything there is to know about your industry, will be well experienced, and if you're lucky, $100 may cover 30 minutes, not an hour! Hope this helps. What an ordeal. I have to admit, I find your experience frustrating as well, especially since I work for a CPA firm. I’m not yet a CPA, but hopefully by the end of next year I will have passed the exam(s).

It is true, you really do need to know if you want a tax preparer or a CPA. There is a major difference.

In response to your dillema, however, and assuming you choose to find a CPA, may I suggest the following:

First look for a firm that specializes, or at least focuses in your industry.

Second, if they will not consult with you for free (no advice, only consultation) don’t bother, unless you are asking for and leaving with tax advice, your appointment should not cost you.

Third, prior to your meeting with the CPA, and if you plan to pay for advice, give them a list of questions you have, that you would like answers for. If, after you have taken these steps, you still get the run around, find another CPA.

While CPAs do have resources that can be used for researching specific topics, these resources still require knowledge, time, and patience. I have a complete Internal Revenue Code setting here at my desk, it has over 9,558 pages (8 point font). The last code section is numbered 9832, which does not include any of the numerous subsections in each code. That’s a lot of laws to have in memory, for anyone. Any CPA that knows everything there is to know about your industry, will be well experienced, and if you’re lucky, $100 may cover 30 minutes, not an hour!

Hope this helps.

]]> By: Lisehttp://www.productivity501.com/my-experience-selecting-a-cpa/370/comment-page-1/#comment-10018 Lise Fri, 02 Nov 2007 13:06:35 +0000 http://www.productivity501.com/my-experience-selecting-a-cpa/370/#comment-10018 As I recall, only a teeny-tiny proportion of a CPA's training has to do with tax law. The people who are going to know the most about taxes, honestly, are dedicated tax preparers. I may just say this because my mother is one - she started out taking an H&R Block tax course and now has ~30 years of experience under her belt - but she can answer just about any question you may have about taxes. As I recall, only a teeny-tiny proportion of a CPA’s training has to do with tax law. The people who are going to know the most about taxes, honestly, are dedicated tax preparers. I may just say this because my mother is one – she started out taking an H&R Block tax course and now has ~30 years of experience under her belt – but she can answer just about any question you may have about taxes.

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