Hello

I am right out of residency, going to start up a solo IM practice in Maryland. What is a good way to find an accountant who knows the ins and outs of working with physicians?

Are there any special degrees that accountants hold which makes them more qualified or tells me that they know the peculiarities of physician taxes?

When interviewing an accountant referred to me, what kinds of questions should I be asking to determine if this person is right for me, and is it OK to ask for doctor references?

What's the difference between a CPA, enrolled agent, and an accountant, and do I need more than one of these?

Any help would be appreciated!

Zip Code: manish500@hotmail.com

You're right that you want to find an accountant who is experienced dealing with the tax and accounting issues that affect you.

On our site, we have a directory of CPAs who provide tax and accounting services to many other young health care professionals. You can find that directory at www.mdtaxes.com/offices.html.

There is a big difference between CPAs, EAs, and accountants. CPAs need to pass a comprehensive exam as well as work in public accounting for a few years, before becoming a CPA. Enrolled Agents (EAs) only need to pass an exam on income taxes. As far as I know, there is no minimum education or experience requirement. And anyone can hold themselves out to be an accountant.

I think you're smart to interview a few CPA firms before making your decision. Ask them how many other practices they have as clients, what type services they provide to those clients, and an idea of what their fees will be. You should also ask for references, and give those references a call.

Good luck with your new practice!

Zip Code: cpa@mdtaxes.com