There are numerous instances where a Certified Public Accountant (CPA) can help your small business. From tax preparation, advisory, submitting your quarterly estimated taxes to the IRS, and even bookkeeping services, a CPA can take on the difficult financial tasks that tie you up and slow you down. But not every CPA and CPA firm is the same, and finding the right one for your business can be a challenge.
If you've been evaluating various CPAs for your business, you know how difficult the search can be. And that's before cost is factored in! Use this guide to help you determine how much a CPA costs, along with other helpful information that will help you zero in on the CPA that's right for you.
How Much Does A CPA Cost?
What you'll pay for CPA services will depend on numerous factors, with no single factor as important as your business needs. Whether you only need a CPA for a couple of hours a month or more regularly, learn more about CPA billing scenarios here.
Common Challenges When Hiring A CPA
You might encounter common challenges while searching for the right CPA for your small business. These include:
How Much Can A CPA Save Your Small Business?
While refund amounts vary, your CPA's goal should be to minimize your business's tax burden. Once you're established, the annual savings can be substantial. For example, 1-800Accountant saves the small businesses we work with over $12,000 on average annually, allowing them to reinvest that money back into their businesses.
Areas where your prospective CPA can save money for your business include:
While saving money is a primary reason you would use a CPA, there are also intangible benefits. Most small business owners will attempt to address financial tasks initially on their own, which can be time-consuming even if you know what you're doing. Great CPAs save time that you can devote to building your business while also giving you peace of mind knowing those important tasks are handled properly.
What Services Can A CPA Provide?
Some CPAs are generalists, while others specialize in certain areas of accounting. When it comes to services for your small business, your prospective CPA should be able to address the following tasks.
Tax Preparation: CPA vs. Tax Preparer
A tax preparer and CPA can prepare and submit your business taxes on your behalf. But which is right for your situation? A CPA typically has more expertise and education than a tax preparer but is also more expensive for the financial services they provide, such as preparing and submitting your business tax return. A tax preparer might be the better choice if your business taxes aren't overly complex.
| CPA | Tax Preparer | |
| Rigorous training | ✔ | |
| Distinct education | ✔ | |
| Expertise | ✔ | ✔ |
| Certifications | ✔ | ✔ |
| Manageable salary | ✔ |
How To Hire The Right CPA For Your Small Business
Understanding your costs is an important step in the process of finding a CPA. Now, it's time to speak with professionals who specialize in your state and industry. Talk to the tax professionals at 1-800Accountant, the leading virtual accounting firm for American small businesses.
Whether you need business tax preparation services, tax advisory, or any of our professional accounting services, we have affordable flat-rate pricing solutions to help your business stay compliant. Schedule a quick consultation – usually 30 minutes or less – to learn more.
This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. 1-800Accountant assumes no liability for actions taken in reliance upon the information contained herein.
