What distinguishes a Manhattan CPA from other accounting professionals is the lengthier education process that they endure and the stricter licensing regulations that are required. However, the key benefit to choosing a CPA for your accounting and tax needs is the fact that they can communicate with you in a manner that is understandable.
The biggest benefit to choosing a Manhattan CPA is the fact that they are very knowledgeable of the economics of the area and can relate better with clients compared to a CPA from out of the area. The problem is that there are so many CPA's to choose from in Manhattan, as well as New York City, that the selection process can become challenging and even frustrating.
How to choose the right CPA
Remember that assisting you with your business and personal taxes is not all that CPA's are skilled at doing. The ideal Manhattan CPA can assist you with a variety of tasks including the following:
o Accurate advice regarding your system of accounting
o Partnering with your professional team such as with your attorney and banker
o Planning advice for your estate, financial, retirement, and taxes
For the purposes of helping you with the decision-making process, the following is a list of suggestions on how to choose a Manhattan CPA:
Figure out what you need that CPA to do - although all Manhattan and NYC CPA's have to meet the same regulations and requirements here throughout the state of New York, they all offer different services when you are comparing one to another. Make a list of what your business and personal needs are before you start your search.
Get recommendations for local area CPAs - start by contacting your Manhattan Chamber of Commerce and inquire about CPA's that are members. Additionally, it's a wise idea to talk with other business owners as to the CPA's they use.
Apply the 60% rule - search for CPA's whose client base is comprised of at least 60% business owners such as yourself.
Begin the interviewing process - this is a must. Compile a list of 3-6
experienced Manhattan CPA that peak your interest and set up appointments and interviews with each one. Make sure that you bring at least your prior year's business and personal tax returns and other business financial documents. Inquire about their amount of experience and how long they have been in business, in addition to seeing their credentials. Additionally, obtain a rate sheet from them as well so you can compare them across the board with other CPA's.
Look for a CPA that will work around your schedule - find out if the CPA you are interviewing can accommodate your schedule. Remember, they need to work according to your schedule - not theirs.
Make your final decision - weigh all of the above criteria against one another in order to choose a Manhattan CPA. Take your time and don't rush into anything because you may regret that hasty decision down the road.
Jonathan Medows, CPA, MBA is the Managing Member of MEDOWS CPA, PLLC, a boutique New York CPA firm serving the needs of individuals, freelancers, self employed individuals & small businesses. To see how he can help you reduce your tax liability and keep you in tax compliance please visit his website:
Medowscpa.com
Occupation: CPA
Jonathan Medows, CPA, MBA is the Managing Member of MEDOWS CPA, PLLC, a boutique New York CPA firm serving the needs of individuals, freelancers, self employed individuals & small businesses.
To see how he can help you reduce your tax liability and keep you in tax compliance please visit his website: Medowscpa.com
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