For this you need to find an accountant that's financially literate. And no, just because they're qualified as an accountant doesn't mean that they know how to reduce your tax expense. There are many ways in which a top accountant can minimize your tax burden, so it’s worth taking the time to find one.
Hints and Tips:
- Don't hire the first accountant you call... do some serious interviewing and shopping around.
- Ask business associates, family and friends who they use and why.
- Get references from other clients (if confidentially issues allow it) and check their track record.
- Ask a prospective accountant the tough questions... don’t be intimidated.
- If you don't like the service you are getting now, it's worth the hassle to leave. A good accountant can save you a fortune.
Negotiate Fixed not Variable Expenses:
If you use a particular service on a regular basis then you should consider arranging a fixed rate.
For example, if a business needs to have its computers serviced 4 times a month, and the fee was $120 per service, it would be worthwhile arranging to pay a retainer of $160 per month and $60 per service. This can be applied to any regular service you use.
Hints and Tips:
- Lock in suppliers you use on a regular basis. This ensures continuity of service and price predictability.
- Emphasize your 'lifetime value' to them and negotiate from there.
- Get as many quotes as possible; this gives you a much better bargaining position.
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