Recently I was faced with the daunting experience of choosing a new CPA for my dental practice. I have used the same CPA for many years and the news that they were retiring was a devastating blow. You don’t realise how much you rely on them and being able to trust your CPA can provide you with peace of mind on a daily basis.
As I went through this tedious process of looking at all the CPA’s and choosing the ones I felt were the perfect match based on my particular needs and requirements, I identified some key points that I found important and I hope it will help you in the future, should you ever be faced with this taxing task.
Specialise Dental Niche
The first thing you are going to want to do is concentrate on CPA’s that specialise in the dental niche. They are best equipped to help you manage your accounts and with their knowledge of the dental industry, they can provide you with the highest level of service and support.
Understand the Tax Rules
Next you are going to want to ensure that any dental CPA you are considering is competent when it comes to the tax laws relating to your particular practice. They should have a firm understanding of the tax laws in your area and country and be able to use that knowledge to help you manage your accounts effectively on a daily basis.
Knowledge and Experience
When it comes to a CPA for your dental practice, you want to ensure you choose a company with a good reputation combined with years of knowledge and experience working with the dental sector. I found that this helped me narrow down my search considerably, eliminating those that had only been in business for a few short years and removing those from my list that didn’t focus on the dental industry in the UK.
Superior Communication Skills
This may sound obvious, but even with my years of dental experience and certifications, I am not an accountant. This means that I had to find someone that can speak my language when it comes to accounting. Someone who was able to explain my finances to me in words that I understood. This was so important to help me keep my finger on the pulse at all times.
Willing to Work with In-House Bookkeeper
While I have my basic team working in the front of the practice, they have basic bookkeeping knowledge, but they don’t have the knowledge and experience of an accountant. I had to find someone who was willing to work with my existing team, providing them with documents as and when requested.
Doesn’t Make False Promises
I was amazed during my search how many CPA’s made me promises I knew to be false. The best one is “I will save you money on your taxes.” I have often wondered how they would achieve this. I know how much my practice makes each month and have a basic idea of how much taxes I pay each year, there is no way I could reduce these. This was a red flag for me. I would rather use someone who provides me with ethical and professional services that I can rely on and trust each and every day, enabling me to concentrate on my patients rather than worrying what they are doing to my good name in the back ground.
Make Themselves Available
The final point I want to advise that I feel is important when choosing a dental CPA is find someone who is responsible and available. When you pick up the phone to check on your tax return, or you send them an email, it’s nice to know you get a fast response.