Business Owner

5 Questions Every Business Owner Should Ask Their CPA

By
January 5, 2026

Running a business pulls you in many directions. You watch cash flow, manage staff, and try to keep customers steady. In the middle of that strain, your accountant can feel distant. That silence costs you money and sleep. You deserve clear answers. You also deserve a CPA who does more than file tax forms. A strong CPA relationship starts with the right questions. These questions uncover risks, tax savings, and blind spots that hurt your bottom line. They also show you if your current support is enough. If you work with a CPA in Mt Kisco, NY or anywhere else, the same truth applies. You need useful guidance, not vague talk. This blog gives you five direct questions to ask. Each one helps you test if your CPA protects your business, your family, and your future income.

1. How healthy is my cash flow right now?

Profit can look fine while cash runs short. That is how many steady businesses fail. Your CPA should walk you through your cash flow in plain words.

Ask for three clear things.

  • A simple cash flow report for the past year
  • A forecast for the next three to six months
  • Specific steps to close any cash gaps

Then ask your CPA to explain what might choke your cash.

  • Slow paying customers
  • High debt payments
  • Inventory that does not move

The Federal Reserve offers small business data that shows cash flow strain is one of the most common causes of business trouble. You can see this pattern in the Federal Reserve small business reports. Use that knowledge as pressure. Your CPA should not guess. Your CPA should show you numbers and a plan.

2. What tax credits and deductions am I missing?

Many owners leave money on the table. The tax code changes often. You cannot track every change. Your CPA must do that for you.

Ask your CPA to list, in writing.

  • Every credit and deduction you claim now
  • Every credit and deduction you might claim next year
  • What records you must keep to support each one

Then ask this hard question. If another CPA reviewed my last three returns, what savings might they find. A confident CPA will welcome that question.

You can study general guidance on small business tax from the IRS. Start with the IRS guide on small businesses and self employed taxpayers at IRS Small Business and Self Employed. Use that guide as a cross check against what your CPA explains.

3. How should I pay myself and my family?

How you take money out of the business affects tax, retirement, and family safety. Your CPA should help you choose a clear pay plan.

Ask your CPA to compare three common methods.

  • Wages through payroll
  • Owner draws
  • Distributions from an S corporation or partnership

Then request a simple table that shows the differences. For example.

Pay method Tax impact Cash flow impact Record keeping need

 
Wages through payroll Income and payroll tax. Clear W-2 record. Regular hit to cash each pay period. Payroll reports and filings.
Owner draws Tax on profit. No payroll tax on draws. Flexible timing. Risk of draining cash. Simple draw log from equity.
Distributions from S corp Wage part plus profit part. Mixed tax rules. Planned payments tied to profit. Minutes, payroll, and equity records.

Next ask how your spouse or children fit into this picture. If family members work in the business, your CPA should explain the tax and retirement effects of putting them on payroll. The answer should be clear and short. You should walk away knowing exactly how to pay yourself this year.

4. What risks keep you up at night about my business?

Your CPA sees patterns that you miss. Late payments. Thin margins. Messy records. You need to hear what worries your CPA.

Ask this question and then stay quiet. Let your CPA talk. Then request three things.

  • A short list of the top three risks
  • The dollar impact if each risk hits
  • One action you can take this month for each risk

Common risks include.

  • Poor separation between business and personal spending
  • Unfiled payroll or sales tax returns
  • Weak backup of accounting records

The U.S. Small Business Administration shares guidance on risk planning and record keeping through its learning center at SBA Manage Your Business. Use that resource with your CPA to shape a clear risk checklist that fits your size and type of work.

5. What is your plan for me over the next 12 months?

You should not talk to your CPA only at tax time. A strong relationship uses a simple yearly plan.

Ask your CPA to lay out the next year in plain steps.

  • When you will meet
  • What reports you will review
  • What decisions you will tackle

Then ask how your CPA will track progress. Some use short checklists. Others use simple scorecards with three or four numbers such as revenue, profit, cash, and debt. The method does not matter. The regular contact does.

You can request a short written summary after each meeting. That summary should state the three key points and the three actions you own. Clear notes help you stay focused when daily stress returns.

How to start this talk with your CPA

You might feel uneasy about raising these questions. That feeling is normal. You still need to push through it. Your business and your family depend on your courage.

Use this simple script.

  • Schedule a meeting that is not near a tax deadline
  • Share these five questions in advance
  • Ask for honest answers and clear next steps

If your CPA resists, gives vague replies, or rushes you, that is a warning sign. You deserve support that matches your effort. Your time, your staff, and your customers are worth that respect.

When you ask sharp questions, you claim control. You move from fear and guesswork to straight talk and clear numbers. That shift protects your business, steadies your home life, and gives you room to breathe again.