Choosing a Certified Public Accountant is vital in assuring your financial health. While choosing one based on price may seem like a prudent decision, you may end up getting less than you bargained for. This is a case where that old adage of, “you get what you pay for” has more meaning. It has been true since the beginning of time, it has never changed, it never will change, you will always get what you pay for. For example, the majority of Americans have to file taxes so that means there are many options out there. Now and again you may have even seen someone spinning a sign on a street corner near you. Their signs often promote “Free Tax Consultation.” I would recommend you take a serious look at these types of companies and really ask yourself if they are qualified to deliver the best tax services possible.
I have been a very outspoken proponent of CPAs and protecting our CPA brand in some of the previous podcasts. We have covered Why You Should Hire a CPA and How to Choose a CPA, but today I am going to talk about price and why you should not make the decision of a financial adviser based upon price alone. Do not get me wrong, the price is important. You definitely do not want to overpay, but you should not make price the central focus of your decision. I can tell you that there are a lot of options out there for tax preparation and even tax planning and consulting. There are hundreds of options here in here in Pinellas County alone not to mention the greater Tampa Bay Area. However, many people are unlicensed, unregulated preparers who are simply producing tax returns based solely on the information you hand them. There will be very little planning and very little consultation if any. There are also other semi-licensed preparers who may have some kind of advanced education or professional licensing of some kind, but again I would question the training and I would question the experience that they have.
On the other hand, Certified Public Accountants are highly regulated, highly trained, and highly educated. You can rest assured, anyone who has passed the CPA exam has definitely put in their fair share of time learning and developing their skills. The exam to get that CPA designation is one of the hardest, if not the hardest professional licenses to attain.
One thing I can tell you, a CPA is more than qualified to deliver that service and will have insights into the things that are important to you, the things that are going to affect your family and your business and your livelihood. CPA pricing can vary, so again I encourage you not to make the decision based on price alone. If you are price shopping and do not care who provides the service, you just want the lowest the lowest bidder, then I wish you the best of luck. Again, a CPA is a trusted partner that has the education, experience and the oversight to ensure that you re going to receive high-quality service, above board, and get you the answers that you need.
If you have any questions, comments, or ideas for future videos, please let us know.