Help me find a CPA
in progress
Kanav Jain (CEO, Andwise)
There are certainly physicians who don't need to hire a CPA, but most will find that it's helpful to have someone on their team who can handle the financial side of things. This is especially true for those who are running their own practice or who are in a partnership.
A hospital-employed physician might need a CPA if they have investments or side income, or are thinking about retirement
What are the most important factors to you?
This post was marked as
in progress
Adam Bloomfield MD FAAP
Unless you have very simple taxes to file, a CPA is a must. Most high earners need a CPA.
Criteria:
Tax Preparation offered? (Y/N) YES
Tax Strategy services offered? (Y/N) ABSOLUTELY
Quickbooks support offered? (Y/N) Only if needed on an individual basis
Bookkeeping services offered? (Y/N) If needed for practice
What online portal do they use?
Accessibility (evenings? weekends? text?) Should be available to you!
Physician/medical professional Focused? (Y/N) perhaps...
Pricing - you don't need to overspend!
Word of mouth is key!!! Ask around...see who serves the physicians in your community and who is trusted.
Joseph Saveika
Conservatism based on the the "more likely than not" model. I have been audited and it's not a whole lot of fun. Beyond that, anyone who follows the heuristic rules being laid out as we set up Andwise will be in need of a CPA within a few years.
Kanav Jain (CEO, Andwise)
Criteria:
Tax Preparation offered? (Y/N)
Tax Strategy services offered? (Y/N)
Quickbooks support offered? (Y/N)
Bookkeeping services offered? (Y/N)
What online portal do they use?
Accessibility (evenings? weekends? text?)
Physician/medical professional Focused? (Y/N)
Pricing
This post was marked as
to do
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Aalap Shah
Should we compile a list of CPAs here? Can we access and edit a shared spreadsheet via feedback.andwise.net?
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Varun Verma, MD
Yeah there are always facebook posts asking for CPA recommendations. Many CPAs found locally by word of mouth recs usually more useful to doctors
rather than big accounting firms.
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Aditya Nellore
I really like this idea. I've had a difficult time finding a CPA these last few months. They've come across as very predatory to me, quoting exorbitant monthly fees as soon as they see the MD next to my name. Many I've talked to also make extremely vague promises which are difficult to verify without trusted reviews.
I think you mentioned this before, but having a database of "verified" CPAs with reviews only from doctors would go a long way. During one of my rotations back in medical school, the chief resident had a CPA that she and many other residents at that specific hospital worked with come in for a talk about physician financial planning, and just having the backing of others in my situation was helpful
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Lisa VK
Aditya Nellore: I second this. A financial professional who is ethical and won't see an MD client as a personal ATM is worth their weight in gold, but finding that needle in a haystack can take a very long time, so recommendations from fellow physicians are priceless.