Planning to Meet your CPA: Here are the top things to do

Before you meet your CPA, gather your documents and prepare your questions. Whether for taxes, business, or personal finance, being ready makes the meeting more helpful. Here’s how to prepare.

Handling money can be tough. When you meet your CPA, make sure you’re organized and clear about your needs. Have all the facts. This helps you know what to expect and how much it will cost. Make sure your records are current. This includes your balance sheet, profit and loss, and cash flow.

For US businesses, file Form 1099 to avoid penalties. Bring your sales tax return, business costs paid from your personal account, last year’s tax returns, Form W-2, payroll returns, mortgage interest, and home office costs.

It’s also smart to bring up any tax or accounting issues your business has. Let your accountant know early so they can help you better.

1. Get Your Documents Ready

Before the meeting, gather these documents:

Tax returns from past years
Income records (W-2, 1099, etc.)
Business papers (if you own a business)
Bank and investment records
Receipts for expenses
Real estate papers (e.g., mortgage)

These papers help your CPA give you the right advice. Before you meet your CPA, ensure these documents are ready to review.

2. Know What You Want

Think about your goals. What do you need help with? Write down your goals and any worries you have. Be clear on:

What to ask about
What you need advice on (taxes, investments, etc)
Any money issues (debts, high taxes)

When you meet your CPA, be clear about your goals and questions.

3. Be Ready to Talk About Your Money

Be ready to talk about your income, debts, savings, and spending. Your CPA will need to know:

Income (salary, freelance, business)
Expenses (living or business costs)
Debts (credit cards, loans)
Assets (property, savings)

When you meet your CPA, be honest about your finances so they can advise you.

4. Ask About Taxes

Taxes are a big reason to meet your CPA. Ask how to reduce your tax bill and find deductions. When you meet your CPA, ask about tax-saving strategies and deductions.

How can I lower my taxes?
Are there credits or deductions I can use?
What tax changes should I know about?
How can I plan for taxes in retirement?

5. Talk About Retirement

Before you meet your CPA, think about your long-term retirement goals.

Which retirement accounts are best?
How much to save each year?
The tax benefits of each retirement option

Planning to Meet your CPA: Here are the top things to do

6. Review Business Finances (If You Own a Business)

If you own a business, use this meeting to review your finances. Key topics:

Cash flow
Business tax tips
Deductions for business costs
Bookkeeping

7. Plan for Estate Planning

When you meet your CPA, ask about setting up a plan for your estate.

How to lower estate taxes
Setting up a trust
Passing on wealth to your heirs

8. Ask About Investments

If you want to grow your money, ask about investments. Your CPA can give tips on:

Investments that save on taxes
How to diversify your portfolio
Investments based on your risk level

9. Prepare for Major Life Changes

Make sure to meet your CPA after big life events like marriage or buying a house. Talk to your CPA about any big changes, like:

Marriage or divorce
Having a child
Starting or selling a business
Buying or selling a house

These can change your taxes, so plan ahead.

10. Understand the Fees

Before you meet your CPA, know how they charge and what to expect. Some CPAs charge by the hour, while others charge a flat rate. Questions to ask:

What are your rates?
Are there extra charges for certain services?
Do you offer ongoing packages?

Know the costs before the meeting ends.

Why Meeting With Your CPA Is Important

Meeting with your CPA is key to managing your money well. It gives you a chance to:

Understand Your Finances – Your CPA reviews your money status and helps you improve it.
Save on Taxes – They know the tax laws and can help lower your taxes.
Plan for the Future – Whether it’s saving for a home or retirement, they can guide you.
Make Smarter Choices – With a CPA’s help, you can make better money decisions.

The Role of Your CPA in Taxes

Meeting your CPA isn’t just about filling out forms. They help you by:

Finding Deductions – They can find ways to lower your tax bill.
Planning Ahead – They can help you plan for future tax costs.
Handling Complex Tax Issues – CPAs can guide you through tricky tax issues like audits.

How Your CPA Helps With Financial Planning

CPAs don’t just help with taxes—they also help you plan for the future, like:

Retirement Plans – They help you set up plans that lower taxes and protect your future.
Investment Advice – They show you how to invest in ways that save you money.
Estate Planning – They help set up a plan for passing on assets with less tax.

What to Expect During a CPA Meeting

When you meet your CPA, expect to review your finances and set up a plan for the year.

Review Finances – Talk about income, savings, and debts.
Discuss Goals – Share what you want to achieve.
Create a Plan – Set up a plan to reach goals and lower taxes.
Ongoing Support – You may need follow-up meetings.

Common Mistakes to Avoid When Meeting With Your CPA

When you meet your CPA, avoid skipping details or being unprepared.

Not Being Organized – Bring all your documents to save time.
Not Being Honest – Be open about your finances to get good advice.
Skipping Small Details – Every detail counts. Don’t leave things out.

When to Meet Your CPA

It’s important to meet your CPA at key moments in the year, like after life changes. Here are the times to meet:

Life Changes – Marriage, divorce, or having a child can change your taxes and plans.
Starting a Business – A CPA can help you choose the best setup for your business and guide you on taxes.
Investing in Property – Buying or selling real estate? Your CPA can help you avoid tax issues.
Tax Prep – Meeting early gives you time to plan and save.

How Often Should You Meet With Your CPA?

It’s smart to meet your CPA at least once a year, and more often if you own a business or have complex taxes.

Annually – A yearly meeting is key for taxes and planning.
Quarterly – If you run a business or invest a lot, meet every few months.
After Big Changes – If something big happens, like a new job or an inheritance, meet with your CPA right away.

How Technology Impacts CPA Meetings

Tech makes meetings easier. Here’s how:

Cloud Tools – Many CPAs use the cloud to store your data, making sharing easy.
Online Portals – Some CPAs let you upload documents and ask questions online.
Virtual Meetings – You can meet via video call if you can’t meet in person.

What to Do After Your Meeting With Your CPA

When you meet your CPA, review their recommendations and keep track of progress on your financial goals.

Review Action Items – Your CPA may give you things to do, like gathering more documents. Make sure to act on them.
Book Future Meetings – If your CPA suggests follow-ups, schedule them soon.
Track Your Progress – Keep checking your goals—whether it’s taxes, retirement, or business growth—and adjust as needed.

Meeting with your CPA is an investment in your money. They give advice, plan your taxes, and offer smart tips that work for you. Whether you need help for a tax season or ongoing support, working with your CPA is key to success.

At Meru Accounting, we take time to learn about your goals, both personal and business. Our team works with you to find answers that make your money easier and help you save on taxes. We give clear, simple advice, so you can focus on what matters most.

FAQs

How often should I meet with my CPA?
Once a year, before taxes. More if things change.
How do I know if I need a CPA?
If taxes are tricky or you run a business.
What should I bring?
Tax forms, income records, and papers.
Can a CPA help with financial planning?
Yes, they can help with taxes and retirement.
What happens in a meeting with a CPA?
You go over your finances and get advice.
Can a CPA help with estate planning?
Yes, they help with taxes and planning.
How much does it cost to meet with a CPA?
It depends. Some charge by time, others flat rate.