What kind of relationship do you have with your accountant?

Are you close? So close to the point where you finish each other’s sandwiches? Are they a fraction away from knowing as much about you as your significant other does? Perhaps they are your significant other! Sounds crazy right? But as any Innovative CPA Group team member will tell you, “It happens”.

Maybe it’s nothing like that. Maybe they aren’t close at all and you have more of a, “Here’s my stuff, where’s my refund?”, kind of relationship. Quite possibly it’s the even more distant, “Here’s my stuff, whaddya mean I owe money?” type of bond.

For many, it’s somewhere in between. At whatever level the relationship operates, there are things you should always tell your accountant. (the fact that you were up watching Frozen until 1am even though your daughter had gone to sleep hours prior need not be one of them)

Here are 3 things to always share with your accountant:

  1. Your Goals
    Nothing is off limits here. However big, hairy and audacious they might be, we want to hear about them. As trusted business advisors, our success is measured by the success of our clients. And although success is subjective and means different things to different people, we believe achieving YOUR goal to always be a success. We want to help you get there.
  2. The Whole Picture
    YOUR success is not determined by your tax position, the state of your financial statements, or the size of your refund. It is only a piece of a much larger puzzle. While important to have your tax affairs in order, that alone will not suffice. An artist can paint the most beautiful work on the bottom corner of a canvas and no matter how beautiful it may be, it’s still not done. It is important you are honest about the current state of your affairs both inside and outside of your business so we can formulate a comprehensive game-plan to get you where you want to go. While it may be uncomfortable to share certain things with your accountant, please understand that the strength of the plan is dictated by the strength of the information. Don’t limit your possibilities by withholding key details! We may not have all the answers but can most likely get you in touch with other professionals who do.
  3. Your Expectations
    Have you heard the saying “People don’t like surprises unless it’s their birthday?” We know that’s not always true, but the point is this; business relationships thrive when clear expectations are set and understood by all parties involved. Don’t be afraid to convey the expectations you have for your accountant. They should share the expectations they have of you as well. Perhaps what you expect to pay for the level of services requested doesn’t line up with what they expect to be paid for the level of services performed. Discuss it anytime the expectations are not so clear. Aligning your expectations with those of your accountant fosters a fruitful business relationship.
    To be clear, it’s perfectly alright to be on a “talk to you next year” level with your accountant. For many, that’s all they need from their accountant. For those chasing big goals, you’re likely going to need help. Keep your accountant in the loop!

Contact Us

Whatever your need may be, we want to talk to you! Give one of our Innovative CPA Group professionals a call today at 203-489-0612 or contact us online.