Working with Your CPA, Attorney, or Tax Adviser
Most business owners have established relationships with professional advisers. After you find these advisers - tax attorney, enrolled agent, CPA, and general attorney - you will need to be able to work with them to keep your business running smoothly but minimize the dollars spent on adviser fees. These individuals may have been selected based on personal friendship or referrals from business sources. You may also have selected them to be on the Board of Directors of your corporation or in another official capacity. Here are some tips to help you work more effectively with these advisers:
- Select the Best Person
Select your advisers based on their knowledge and ability, not on personal relationships. Working with friends can be fun, but be sure that the person is giving you the best advice possible.
- Have a Preliminary "Scope of Work" Discussion
At the beginning of the relationship, discuss with each adviser how they want to handle issues and problems. Discuss general "rules of thumb" you can apply to situations that can minimize your need to call the adviser too often. For example, talk to your CPA about how to handle common transactions for your type of business. Also discuss the kinds of issues your adviser does not want to handle. Detmining which issues your CPA will be handling and which you should call your attorney about can be helpful.
- Be Prepared
Before your initial meeting and every other meeting with your adviser, be sure you know the purpose of the meeting and what you want to accomplish. Prepare a list of questions and go through them in the meeting. Don't save a question to ask later. Preparation will save you time and valuable billing dollars from your adviser.
- Be Proactive
If you think you see a problem heading your way, call the appropriate advisor and ask abbout it. Don't think you will save money by not calling. Heading off problems before they get bad saves you much more mooney than spending a lot of time dealing with them when they become a crisis.
- Head off Employee Problems
The proactive approach is especially important when working with an attorney in employee matters. If you have an employee who is causing problems, talk to your attorney to see what can be done and how.
- If the Relationship is not Working, Let it Go
If you start out working with an adviser and you find that you are avoiding calling him or her or you don't like this person, sever the relationship quickly. This is another reason not to work with family or friends; you don't need the personal relationship interfering with the busienss relationship. Go to the person's office or by phone state that you have decided not to continue the relationship. You don't have to give a reason; just be polite but firm. Another way to sever the relatoinship is to refrain from calling the person for advice. For example, if you decide to change CPAs, just start working with the new CPA at tax time. The other person will get the message.
