5 Questions to Ask Your Kelowna Accountant

What do you look for when choosing a new Kelowna accountant?

5 Questions to Ask When Looking For a New Kelowna Accountant

Do you feel like you should be saving more on your taxes? Maybe you’ve heard about tax loopholes before but you’re wondering why you haven’t been able to take advantage of any yet. Choosing the right Kelowna accountant can be tricky since you want to find someone who is qualified, but also understands your business strategy.

Here’s a list of 5 important questions you should ask your Kelowna accountant.

1. How will your practice help me develop my business?

You will see the most gains when you have an accountant who understands your company’s goals and can accommodate them in the accounting process. This requires you to have more clarity in your vision so that the rest of your team can have no confusion on where the company is headed and how it’s getting there.

2. What are your qualifications?

This is an obvious one but it is worthwhile to ensure they are fully qualified for the services you require. If dealing with a firm, ensure you know who is dealing with your account and make sure their skills match your needs. Businesses, especially small ones, cannot afford to make a mistake when it comes to accountants.  In Canada there are several types of accountants, they are CGA, CMA and CA. CA stands for Chartered Accountant and this is the highest designation for accountants.

3. Do you have references and may I speak with some of your existing clients?

Don’t be afraid to ask for references and give them a call to check up on your prospective accountant. If they do great work, they won’t hesitate to hand over a few references. You can use these same questions when speaking with each reference to make sure that they received the service you expect to get once you’ve hired them.

Choosing a the right Kelowna accountant is important.4. How aggressive are you with in your pursuit for greater tax savings for clients?

There are a lot of accountants that are rather conservative and are not willing to push the boundaries when it comes to taxes and dealing with Revenue Canada. You need to find an accountant that is willing to find you every (legal) tax break possible. Not only is this a quality you want in your accountant, it can easily result in the difference of thousands and even tens of thousands of dollars in tax savings.

5. Do you have any experience beyond accounting?

I can’t stress how crucial this is. If your Kelowna accountant only has experience crunching numbers then you can’t expect them to think like a business owner when doing your accounting. Accountants with business and corporate experience will likely be able to think more “outside of the box” than traditional accountants. It’s a major asset to have someone who has been where you are and understands it on a deep accounting level as well as on an entrepreneurial level.

An entrepreneur’s job is never done

Of course you will have other questions but these will help you realize whether or not an accountant’s style is going to resonate with your business very quickly. Make sure to meet with your accountant more than just one time a year so they can help you strategize your business growth and your tax planning and savings.

What skills and qualities are most important to you when seeking a new Kelowna accountant? Perhaps you have a good or bad experience? Let me know in the comments below.

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