How to Find the Right CPA for Your Therapy Practice: Key Questions to Ask

As a mental health therapist, managing your practice's finances can be overwhelming, especially when it comes to taxes, bookkeeping, and other financial obligations. A Certified Public Accountant (CPA) can be an invaluable resource, helping you navigate these challenges. But finding the right CPA for your business needs is crucial. Here’s how you can ensure you choose wisely, along with key questions to ask during your search.

1. Assessing Expertise: Look for Longevity and Good Reviews

You want a CPA who knows what they’re doing, but assessing expertise can be tricky. One of the best indicators of competency is longevity in the field. A CPA with years of experience has likely encountered a wide variety of financial situations and is more equipped to handle the unique challenges of your therapy practice.

In addition to experience, seek out reviews and testimonials. Ask for referrals from fellow therapists or other small business owners. Look for someone who has built a solid reputation over the years, with clients who can vouch for their reliability and knowledge.

Questions to ask:

• How long have you been practicing as a CPA?

• Do you have experience working with mental health professionals or similar small businesses?

• Can you provide references or client testimonials?

2. Communication is Key: Find Someone Who Explains Things Clearly

A CPA should not only be knowledgeable but also capable of explaining complex financial concepts in a way that you can understand. As a therapist, you deal with intricate issues every day, but financial jargon can be a whole different challenge. You need a CPA who can break down information without talking over your head, ensuring you fully grasp the financial aspects of your practice.

During your initial meetings, pay attention to how the CPA communicates. Do they take the time to explain things? Are they patient with your questions? Their ability to communicate clearly is just as important as their technical skills.

Questions to ask:

• How do you typically explain complex financial matters to your clients?

• Can you provide an example of how you would explain a common tax issue relevant to my practice?

• How do you ensure that your clients fully understand their financial situation?

3. Availability and Responsiveness: Know Their Customer Policy

CPAs are notorious for being difficult to chase down, especially during tax season. It’s essential to know how responsive your CPA will be when you need them. Ask about their customer policy—how long does it take them to get back to you during normal times? What about during the busy tax season?

Establishing clear expectations around communication will save you a lot of frustration down the line. You don’t want to be left in the dark when a financial issue arises, especially one that could impact your practice.

Questions to ask:

• What is your typical response time during the year and during tax season?

• Do you have a customer service policy that outlines how quickly you respond to client inquiries?

• How do you prioritize client communication during your busiest times?

4. Understand the Fee Structure: What Will It Really Cost?

Fees can vary significantly from one CPA to another, so it’s crucial to understand their pricing structure upfront. Beyond the cost of filing your taxes, there may be additional charges for services throughout the year, such as bookkeeping, financial consultations, or even quick phone calls.

Ask your CPA how they charge for different services, and get a clear picture of what to expect. This will help you avoid any unpleasant surprises when the bill arrives.

Questions to ask:

• What is your fee structure for tax filing, and what other services do you offer?

• Are there additional charges for services like bookkeeping or financial consulting?

• How do you charge for communication, such as phone calls or emails?

5. Team vs. Solo Practitioner: Who’s Really Handling Your Account?

Some CPAs work alone, while others are part of a larger firm. In many cases, the CPA you meet initially may only review your taxes or consult on complex issues, while most of the work is done by associates or junior staff members. It’s important to know who will be handling your account and whether you’ll be in direct communication with them.

Ask about the levels of experience within the team and how much involvement the CPA will have in your account. You want to be sure that the people working on your finances are competent and that you have direct access to someone who can answer your questions.

Questions to ask:

• Do you work alone, or do you have a team?

• Who will be handling the majority of my account, and what are their qualifications?

• Will I have direct communication with your associates, or will all communication go through you?

Conclusion

Choosing the right CPA for your therapy practice is a decision that can have a significant impact on your business. By asking the right questions and taking the time to understand their expertise, communication style, responsiveness, fees, and team structure, you can find a CPA who will be a valuable partner in managing your practice's financial health. Remember, the goal is to find someone who not only has the technical skills but also aligns with your needs and communication style, ensuring a smooth and productive working relationship.