If you own a small business, then you're well aware of all the work that's involved with it. It's ideal to rely on assistance in some areas if at all possible. One way that you can get additional help with your company is by hiring a certified public accountant (CPA) to assist you. This can take the financial work off of your shoulders and give you time to focus on other things. By knowing the many ways this professional can help you, this may motivate you to get started.
Complete daily transactions
It's important to deposit all of the money that's coming in from your customers and clients. These are referred to as the accounts receivables. This will allow you to make the profits you need for your business to be successful.
Additionally, you may have vendors that you rely on for supplies or services that assist in keeping your business running efficiently. You will need to pay these people regularly to maintain a good relationship, and this is referred to as accounts payable. The CPA you hire to help you can keep both of these things done for you on a daily basis.
File your taxes
As a small business owner, you may opt to pay your taxes quarterly. There are certain forms that must be filled out for you to do so and your CPA will know what these are and when to complete these.
Additionally, you will need to file your taxes with the Internal Revenue Service, and the CPA you select can do this for you, as well. There are a number of tax deductions that may be allowed for you to take that only this professional will know about, and this can save you money.
Provide advice
The CPA can provide useful information that can help in the operation of your business. This may include things you should do to assist you in making more money, such as expanding certain parts of your company or closing others down.
Keep in mind that your CPA has completed the necessary training in what does help make a company profitable and is in business, as well.
The benefits of being able to rely on this type of professional are numerous and may help you have less stress on a regular basis. Be sure to contact a CPA firm, such as Amos Maney & Payne CPA's LLC, to get the help you need today.
Share29 January 2016
Accounting is the absolute most important element of running a business. If you mess up the bookkeeping even the slightest bit, the entire business could be in trouble. I know how costly a small bookkeeping error can be. About three years ago, I made a seemingly small mistake in the financial records for my business and the next year when I filed my taxes, things were very bad for me. What would have required a small tax payment had suddenly turned into a big tax bill and quite a headache. Since then, I have worked with an accountant and things have been better.