Is your accountant proactive? Proactivity — acting in advance of situations and taking initiative — is not always a characteristic business owners know they should look for in an accountant. If your accountant provides only the necessary services, though, you may not be getting all the service you need. Instead, here are five of the most valuable reasons to find a proactive accountant instead.
1. Proactive Accountants Check In With You
Do you check in with your accountant on a regular basis? If not, do they ever call you to see how business is going? If not, up to a year could go by without any financial advice on important business decisions. A proactive accountant, on the other hand, reaches out to clients and finds out what challenges they face and how the accountant may be able to offer help.
2. Proactive Accountants Watch Trends
Trends in tax rules, business law, the regulatory environment, or international trade change all the time. Your accountant should stay on top of what's about to come down the pike and advise clients accordingly. If Congress is working on a bill that will affect their clients, a proactive accountant may be on the phone with clients or devising strategies to take advantage of positives and minimize negatives.
3. Proactive Accountants Do Tax Planning
By the time you file taxes each spring, an entire year has gone by without the opportunity to make changes that could positively affect your tax bill. A proactive accountant has already brainstormed strategies to suggest to business owners and can give them useful information on changes they may want to or need to make while there's still time.
4. Proactive Accountants Limit Client Pools
Certainly, an accountant who helps clients throughout the year works longer and harder for these. This means the accountant's client list should be limited and targeted. The growth of concierge accounting services, which provide more services for a smaller set of clients, demonstrates that an overbooked accountant cannot provide the same level of service as a focused one.
5. Proactive Accountants Work With Others
Your accountant shouldn't operate in a silo, independent and unaware of your other financial or legal plans. With your permission, they might consult with your attorney about business entity choice, learn about the financial plan of a sole proprietor, or even talk with bankers about a small business loan. This team approach ensures more success in all areas.
Where to Find Proactive Accountants
Now that you know why proactive service from your accountant is a must, how can you find it? One of the best sources is the growing pool of concierge accounting services. These accountants build their businesses not on processing the most tax returns or serving the most clients but on finding ways to improve the way they serve each client. Learn more by meeting with a concierge accounting service in your state today.