For small and medium sized businesses in Nashville, a good CPA can be very beneficial and save thousands especially for young growing companies in their infancy. Listed below are the factors to consider when choosing a good CPA in Nashville:
Experience: The length, the kind and the specific industry experience a Nashville CPA brings will have a direct impact on the value he/she brings on the table to a client. The profession gives exposure to many phases of accounting like Attestation, Tax compliance, Tax planning, Tax advisory and wealth management. Accounting for certain industries can be complex and time consuming such as Construction accounting, so it is important to know the experience level of the Nashville CPA in such industry. Similarly experience in tax compliance, tax planning and tax advisory for individuals, Partnerships and Corporations is vital in choosing a Nashville CPA for taxation needs.
Certifications: There are many certifications in the accounting profession like CMA (Certified Management Accountant), CIA (Certified Internal Auditor) and CPA ( Certified Public Accountant). Out of all the certifications a CPA examination is the most comprehensive one and it covers areas of financial reporting, taxation, auditing, and business law. More specialized certifications include ABV (Accredited Business Valuation Analyst and CVA (Certified Business Valuation Analyst) for business valuations.
Typically, large Nashville CPA firms have different professionals who specialize in each field and do not engage in any other phase of accounting. Smaller firms usually to cater to business with less than $10 Million in revenue and wear different hats depending on their workload. When looking for a good Nashville CPA, one should review the certifications applicable to the needs and choose someone that best meets the needs.
Memberships: The memberships of state and national professional organizations can offer a clue as the continuing education interests of the Nashville CPA. TSCPA (Tennessee Society of Certified Public Accountants) and AICPA (American Institute of Certified Public Accountants) offer valuable training and continuing education in attestation. NATP (National Association of Tax Practitioners) offers valuable training in tax compliance, tax advisory and tax planning.
Availability: Access in time of need can play big role in deciding the Nashville CPA you employ. Some Nashville CPA firms are available on Saturdays and even evenings. After engagement also the availability on as needed basis can be big factor, especially for tax audits.
Testimonials or references: Most of the successful Nashville CPA firms may not have a lot of testimonials on their website but in real can be very busy and fast paced practice. On the other hand, some firms have a big list of testimonials. The key for this is to see how recent and how diverse the testimonials are.