Why Do People Change Accountants?July 8, 2019

You may not realize it, but a reliable accountant is one of the most important people in your life. Having an expert whom you can trust with your finances and, in turn, your future, enables you to make better decisions around taxes, assets, investments and business. It can take time to find this trusted advisor, particularly in the following cases.

Feeling Lost in a Large Firm

Many people will go to the first big-name accounting firm they see. They’ll feel great after an initial meeting with a partner in the firm, only to find themselves being constantly handed down from one accountant to the next thereafter. During the shuffle, the fees tend to rise each year and the service begins to feel impersonal. The lack of continuity makes you feel like just another client in their book.

Needing More from a Small Firm

To the contrary, there are many firms that offer extremely personalized service, but simply don’t have the depth of service and expertise you require. Their advice is limited, leaving you with more questions than answers. When this happens with a firm you know and love, it could be that you have simply outgrown their capabilities. Consider asking them to refer you to someone who can expand on their service offerings. You might be able to retain them and add a second resource to your team.

Current CPA Retiring or Passed Away

It’s not always a matter of replacing someone who’s not living up to expectations. If you work with your CPA for long enough, it will eventually come time for them to retire. They should give you ample notice prior; if or when that happens, be proactive in hiring a new accountant—and again, ask for a referral—rather than waiting until the last minute.

It’s sad to consider, but there is also the possibility that your CPA could pass away unexpectedly. This is an extremely unfortunate situation all around, and one that may make it difficult for you to obtain transitional records for a new accountant. If your CPA was a sole practitioner, you may never be able to access the records, which is why it’s always recommended that you keep your own personal records of tax returns and other important financial documents.

New Business Venture

Starting a new business? Congratulations on taking the leap! One of the first things you’ll want to do is enlist a small business accountant. If your personal accountant is able to help you get started, great. That said, your business will eventually require highly involved accounting controls beyond taxes, including bookkeeping, budgeting, payroll and more. Outsourced business accounting is usually the most cost-effective choice for securing these services without having to hire someone full-time.

Looking for Specialized Knowledge

It can be complicated when someone requires a greater depth and breadth of knowledge than their current accountant is able to provide. Selling a business, receiving an inheritance, planning for retirement, or a major change in taxpayer status are just a few examples. For business owners, you may also consider hiring an accountant who specializes in your industry, such as accounting for construction companies, homeowners’ associations, credit unions or restaurants.

Are you looking for an accountant who is a trusted advisor and will work to truly understand your goals and deliver the services you need? Curchin is the mid-sized accounting firm that’s large on experience. See why we’ve been a mainstay in New Jersey for more than 60 years.