Small business owners, particularly in the early stages, are doing it all. You call the shots, set your own hours, hire your own help, and eliminate long, pointless meetings. But how much do you know about getting started — and achieving financial success?
Sometimes it can feel like an up-hill battle. There is so much to do, and learn, and not enough time to do it. Financial resources can be scarce and stretched thin. Sometimes spending a little can help you a lot, especially when it comes to hiring an experienced Certified Public Accountant (CPA) that specializes in small businesses.
Many small business owners don’t realize that CPAs do much more than crunch numbers and report on facts that have already happened in your financial statements. We provide advice, and educate our clients and help them improve their financial business results. Our value can often be quantified, measured, seen and/or felt by business owners in the following ways:
- A CPA can help you determine the most apt business structure and analyze your plan to see how financially compatible it is. A “numbers’ guy” can assist you on all financial decisions throughout the startup process and even save you money.
- A CPA keeps your accounting records current so you can determine if you need to begin quarterly reporting and payments.
- A CPA can help with your budget. If you want your business to survive and thrive, it is important to stick to the budget even at the initial stage. A CPA can analyze the budget, aid in making the changes and catch errors (if any) to ensure smooth financial operations.
- A CPA can help you make decisions, interpret the financial statements and offer suggestions to improve profitability, cash flow, and efficiency
- A CPA can help you minimize your income tax. Do you know what you can legally deduct on your tax return? Do you know how to use strategy to reduce your business tax bill? Tax Planning with a CPA includes education, evaluation, and action.
Accounting is vital to make small businesses thrive at a fast pace. Yes, you can use an accounting software but apart from handling the accounts on a basic level – it can only do so much for your business. This is where having an experienced CPA onboard can make all the difference.
We hope this post helps to provide some clarification on how a CPA can help your small business. If you need help managing any aspect of your business’s or nonprofit’s finances, we want to hear from you. Call us at (301) 913-0008 or email firstname.lastname@example.org to make an appointment.