No matter how small your business is, it’s never to early to get an accountant.
An Accountant is trained to help you with your business growth and development. Many people have a friend or family member they trust to give them financial and tax advice. However, this advice is usually general and not tailored to unique situation; and sometimes outdated.
Your accountant is someone you want to know does their best to stay informed on the latest tax laws and financial strategies. A good accountant stays up-to-date on all the financial, tax and industry matters that might affect your business to make sure you are getting the best advice.
Below are more reasons your business needs and accountant. If you don’t currently have one or are looking to reevaluate your current accountant, please consider giving us the honor and contact us for a free consultation.
An account is going to provide much support to your business. Mainly your going to get savings:
Not only is it a good business practice to make sure you keep good records of your business’s financial transaction, it is required by many organizations such as the Internal Revenue Service (IRS). Your accountant can help you free up some of that time by handling the bookkeeping for you. The time saved will help you better run your business.
IRS forms and tax filings can be confusing. You are better off hiring a professional to make sure it is done timely and properly. As mentioned earlier your time would be better spent seeing to other business offers than those you can conveniently outsource.
Your accountant should be able to provide a good tax strategy to help reduce your tax burden. Tax Planning is one of the main features small business owners look for in a tax accountant. Tax planning is not something you should wait tax time to consult with your accountant about. If you have not discussed your tax strategy already, please Contact Us.
Incorrectly filing a form with the IRS and state government can be costly. Your accountant is there to help with the accurate and timely filing of such forms.
The preparation of your business’s financial statements comes with a detailed review of your business history. This will help with cost tracking, budgeting, and possibly find any accidental or unnecessary expenditures; thus, saving you an unforeseeable amount.
Peace of mind is one of those things you cannot put a price tag on. This is one of the biggest benefits your accountant can provide to you. The peace of mind in knowing your business has a plan and doesn’t have to worry about the IRS coming to jeopardize the hard work and profits you have.
Dealing with the IRS can be one of the most challenging things a small business owner can go through. Your accountant should be there to handle this for you. If he/she knows what they are doing they should be able to prevent most communications and audits with the IRS or come to an agreeable arrangement.
No employee likes being paid late. And your accountant can help run your payroll to make sure employees are paid timely and tax payments and forms are made timely.
Tip: W2s aren’t the only payroll form you are required to file. If you didn’t know this, please Contact Us and we can help provide payroll services.
We hope you found this information useful and if you don’t have an accountant please consider getting one today. We would be glad to provide our services to you anywhere in the United States. Make sure to Like our Facebook page and follow us on Twitter for more tips to help grow your business.
At BMA Taxes, we've been serving the accounting needs of Orlando, FL and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.
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