WHEN SHOULD YOU HIRE A PROFESSIONAL?

Here are three cases that indicate it’s time to hire a financial professional:

1. YOUR TAXES ARE COMPLICATED

If your taxes are too complicated to handle on your own, with multiple streams of income, foreign investment, multiple deductions, or other considerations, it’s time to hire an accountant. An accountant can save you hours and help you stay on top of important matters like payroll, tax deductions, and tax returns.

2. YOU SPEND TOO MUCH TIME IN ACCOUNTING

If you spend so much time worrying about accounting tasks that you’re unable to work to grow your business or keep existing customers happy, you’re doing your business a disservice. You can make more money in the long run if you leave your accounting to the professionals and focus on your growth prospects.

3. YOUR BUSINESS IS EXPERIENCING GROWTH

Doing the bookkeeping and/ or accounting yourself may be fine when your business is small, but if your business is growing, it might be time to enlist someone to help you. You can start by contacting an accountant to balance the books once a month and a CPA to handle your taxes. Then, as your accounting needs increase, bring someone on staff.