The Benefits of Hiring a Small Business Accountant
Published on : Jan 12 2012
Owning a small business can mean the difference between financial freedom and financial disaster. Getting a professional small business accountant can help you to stay on track with your business’ financial development while foreseeing potential financial risks.
Running a successful small business requires making smart decisions. Unfortunately, many small business owners have wonderful talent and expertise in their trade but do not have the financial accounting knowledge necessary to make a business run smoothly. Having a professional small business accountant help you streamline your business is a priceless asset.
A small business accountant can help you with all aspects of business finance, no matter how great or small. If you are a new business owner, an accountant can provide you useful advice on strategic planning and the financial structure that will guide all your business operations. An accountant can also show you how to reach maximum and cost-effective efficiency in your regular business procedures and routines.
If your business manages several employees and has expenses like store rent and utility bills, office equipment or product inventory, an accountant will help standardize a payroll system, organize your budget so that you reach a specific profit goal, offer alternatives to expensive, costly procedures, and advise you in major purchases. Accountants can also give advice about loans and investments that are best for your business and goals.
For any small business, bookkeeping is essential. Bookkeeping records your sales and purchases, regular expenses, your bank balance and all other financial events related to your business. Without detailed and accurate records of your financial transactions, you lack the ability to budget soundly and foresee the possibility of future gains or losses. Improper bookkeeping can easily cost you a major financial crisis, so if you already have enough on your hands just trying to manage the day to day of your business, it is sensible to hire a bookkeeper or accountant to take care of the books.
Small business accountants can help make sure your business stays on top of things. The last thing you want is the Internal Revenue Service knocking at your door. Professional accountants are experienced in tax matters and in addition to providing advice on tax-related decisions, can do all of your taxes for you. You won’t have to worry about filling out the wrong forms, missing out on a tax privileges you knew nothing about, or making mathematical errors that raise the IRS’s brows.
With an experienced and professional small business accountant on your team, you can breathe easy knowing your financial affairs are being managed by an expert and in the meantime, can focus your attention on the other important matters of your business. A small business accountant will most definitely keep your life from falling apart by keeping the seams of your business together.
PASBA member accountants bring the collective resources of a nationwide network of Certified Public Accountants, Public Accountants, Enrolled Agents and other practitioners available to answer your tax and financial questions and streamline your business accounting, bookkeeping, and payroll operations. To find a trusted accountant in your area, visit www.SmallBizAccountants.com.
Please be advised that, based on current IRS rules and standards, any advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty that the IRS may assess related to this matter. Any information contained in this article, whether viewed or subsequently printed, cannot be relied upon as qualified tax and accounting advice. Any information contained in this article does not fall under the guidelines of IRS Circular 230.
Copyright Information 2011 Professional Association of Small Business Accountants