It goes without saying that choosing the rightfor your business can significantly help you grow. Accountants can either make things easier for you or make them more challenging, something which nobody wants. While most accountants are professionals, not all of them are good enough to be handling the finances of a business.
There have been many horror stories about bad accountants. To avoid creating one more story, you must recognize the red flags.
Warning signs of a bad accountant
- Be careful when you are being charged by the hour.
Accountants in Lake Mary, FL, offer various types of payment plans. Some charge by the hour, while some have specific rates for specific tasks. When you are being charged by the hour, you could end up with a huge bill before you know it. You cannot even ask them a quick question without worrying about being charged a huge amount. This can discourage you from asking the questions you need answers to. It is better to opt for a fixed fee package with no hidden charges.
- They are not discreet about their other clients.
One of the most important qualities of a good accountant is that they should keep their clients’ business and financial details discreet. After all, it is sensitive information and should not be public. It is a major red flag if your accountant does not show discretion towards their other clients’ details. It is not a problem if they share their clients’ stories with you to demonstrate their experiences. However, they should not be revealing the financial matters.
- They condone bad practice.
Nobody likes to pay taxes. After all, giving away a part of your hard-earned income is never easy. However, that does not mean it is okay to use illegal methods to underpay or not pay taxes at all. If your accountant suggests bad practices or schemes that sound too good to be true, be aware. Listening to them may put you in legal trouble, or they may scam you with a lot of money.
- They dodge questions or give incomplete answers.
The role of an accountant is very important to grow your business and stay right on track. A good accountant helps you learn new things every day and suggests ways to increase revenue. Qualified and experienced accountants will be able to answer your questions properly and even add some extra wisdom of their own. If your accountant is doing the opposite of that, it is a sign of inexperience and unprofessionalism.