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Smith, Watson & Company, LLP
Established 1973

If you have additional questions about accounting services, give us a call or e-mail us, we would be happy to answer any questions you have!

Questions:
Q: Why do I need a CPA?
Q: What makes a CPA different from an accountant?
Q: What should I look for when choosing a CPA?

Q: What do CPAs charge?
Q: How can I get the most value from my CPA's service?
Q: How can I learn more about CPA services?

Answers:
Q: Why do I need a CPA?
A: You may automatically think of tax and audit services when you think of Certified Public Accountants, but CPA's provide a broad range of other financial services. From building college funds to planning for retirement, CPA's can be relied on to guide you through your personal financial planning.




Q: What makes a CPA different from an accountant?
A: CPA's are distinguished from other accountants by stringent state licensing requirements. In addition to having a college degree, CPA's are required to pass a rigorous uniform national examination and must have extensive experience before being licensed. Nothing can match the combination of education and experience that a CPA can offer you.




Q: What should I look for when choosing a CPA?
A: Make sure your CPA is licensed, and check to see if he or she belongs to any professional associations. If your CPA belongs to the Massachusetts Society of Certified Public Accountants and the American Institute of Certified Public Accountants, then they are governed by a strict code of professional ethics. Don't underestimate the importance of being compatible with your CPA! If your needs are compatible with your CPA's personality and expertise, you will develop a valuable long-term relationship.




Q: What do CPAs charge?
A: CPAs normally base their fees on the time required to perform the services you request. There are no "fee schedules" common to the profession, so it's important to talk frankly with your CPA about fees. What you pay will depend on the type of service you require, the CPA's level of expertise, and complexity of the work involved.




Q: How can I get the most value from my CPA's service?
A: When you meet with your CPA, be prepared to discuss your plans and objectives. Ask specific questions, clearly explain what you expect from your CPA's service, and save yourself unnecessary fees by keeping good records. It's also important to keep your CPA up-to-date on changes in your personal and professional life. A recent marriage, the birth of a child, a career change or a generous bonus can all have a significant impact on your tax liability and personal financial goals.




Q: How can I learn more about CPA services?
A: The above questions and answers are from an article published in the Boston Globe, by the Massachusetts Society of Certified Public Accountants (MSCPA). You can contact the MSCPA for more information on CPAs and CPA services. MSCPA, 105 Chauncy Street, Boston, MA 02111.