The Top 5 Questions You Should Ask When Hiring A Dental CPA
Working with a dental CPA is a fantastic way to get a better handle on your finances. As a dentist, you should be spending your time working with patients and expanding your practice, not poring through financial statements.
But how can you be sure that you hire the right dental CPA for your needs? In this blog from Tooth & Coin, we’ll take a look at a few of the top questions you should ask before you hire a dental CPA. Let’s get into the details!
1. How Much Experience Do You Have Working With Dentists?
First of all, you should seek out a CPA that works specifically with dentists. Like any other industry, dentistry has its own unique quirks. Things like payroll, tax write-offs and deductions, and financial planning look different for dentists than they do for some other businesses, even other types of medical businesses.
If you want to maximize tax deductions, get informed financial advice, and make sure you’re setting yourself up for success, it’s best to work with CPAs that specialize in dentistry, such as the team at Tooth & Coin.
2. Do You Provide Year-Round Services, Or Just Tax Preparation?
Ideally, you want a dental CPA who is a year-round partner. A CPA shouldn’t just help you at tax time, but should also provide profit advisory services, help you plan for retirement, understand the financial footing of your practice(s), and help you reach your personal and professional goals.
If a prospective CPA mostly focuses on tax preparation, that’s not quite good enough. You want a partner who will work with you all year, not just when it’s time to pay Uncle Sam every April.
3. Have You Worked With Multi-Practice Dentists?
As any dentist who has expanded into multiple practices will tell you, things get complicated quickly once you’re managing more than one location. Whether you’re thinking about expanding in the future or you’ve already taken over more than one practice, your dental CPA should understand the unique challenges (and opportunities) that come into play when you’re running more than one location or practice.
4. What Financial Software Suites Do You Have Experience Using?
A good dental CPA will have experience with most leading financial software and be able to accommodate the software suite that you’re using to manage your finances. But it’s still helpful to make sure that they are using user-friendly software that can produce simple expense reports and financial statements. These are very useful tools that will help you and your CPA understand the financial health of your practice at a glance.
5. How Do You Handle IRS Audits? Do You Have Audit Experience?
When running your business, you need to expect the best, but plan for the worst. Nobody wants to be audited by the IRS. But your dental CPA should be prepared for this situation, and offer the audit support services you need to get your finances in line and avoid penalties if you’re audited by the IRS.
Work With An Experienced Dental CPA Team – Contact Tooth & Coin Today!
At Tooth & Coin, we exclusively serve dentists throughout the United States. Our team of CPAs, accountants, and financial experts provides the support services you need to keep your finances in order, avoid paperwork and administrative burdens, and focus on growing your business.
So don’t settle for anything less. If you’re looking for expert dental CPAs, our team is here to help. Schedule a consultation online with Jonathan Vanhorn now to learn more, or give us a call at (877) 265-2121 to speak with our team now. We’re always here to help.