87: 10 Questions to Ask Your CPA Each Year

Welcome back to The Dental Boardroom Podcast with Wes Read CPA, CFP!

In today's episode, we're pivoting from last week's discussion about reviewing your own financial statements to a powerful new focus: the 10 critical questions you should be asking your CPA every year — not just at tax time.

Why is this so important?

Most CPAs are historians by training — they look backward. But if you learn to engage them correctly, you can push your CPA into a more analytical, forward-thinking advisor role that will transform your practice’s financial success and help you build lasting personal wealth.

Key Points:

• Why Timing Matters: Waiting until year-end to talk with your CPA can cost you tax-saving opportunities. Meet proactively in Q2 and Q4!
• CPA as Historian vs. Planner: Most CPAs are trained to look backward, but with the right questions, you can push them to think forward.
• Financial Integration: The greatest value comes when your business cash flow planning connects directly to your personal financial goals.
• Personal Financial Independence: Route business profits smartly—either spend on personal expenses or build your balance sheet (assets).
• Avoid Financial Leaks: Without good cash flow control in the practice, money will leak away before strengthening your personal net worth.
• Schedule Smart Meetings: Ideal times to meet your CPA are after tax season (May-June) and after October 15th.
• 3 Sections for CPA Questions:

1. Profit & Loss: Understand your goals-based break-even and if you're hitting it.
2. Taxes: Stay ahead of tax liabilities, deductions, and strategic opportunities.
3. Financial Planning: Align your practice cash flow with your long-term personal financial goals.

• Key Concept: "Goals-Based Break-Even" — how much you must collect monthly to fund your current lifestyle AND save for financial independence.

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