Financial Advisor or An Accountant?
Most businesses need professional guidance when it comes to their finances at some stage, and even smaller businesses with fewer employees can benefit from the expert knowledge provided by financial advisors and accountants. But how do you know if you need the services of one, or the other, or both?
Let’s look at the roles of each professional respectively, so that you can better determine which one might best suit your needs:
Times when you might benefit from the help of a financial advisor
If any of the following circumstances apply to you, then you might benefit from the help of a financial advisor:
● Your financial situation is complicated
Whether you have a lot of debt, investment income or any other factors that make your financial situation a little complex, then seeking help from a financial advisor could help you make sense of it all and come up with a more refined plan and budget.
● You’re focused on investing or reducing debt
If you need expert help with selecting an investment strategy, individual securities or finding a workable plan to reduce your overall debt, then you would almost certainly benefit from professional help in the form of a financial advisor.
It’s important to note, however, that accountants can also help you reduce your tax burden, and therefore your debt, making working with both parties, beneficial under many circumstances. Times when you might benefit from the help of an accountant
Remember that working with an accountant doesn’t have to mean hiring one in-house; there are many amazingly cost-effective outsourced accounting solutions available nowadays, that can save you the costs typically associated with hiring professional help in-house.
If any of the following circumstances apply to you, then you might benefit from the help of an accountant:
● You need help growing your business With their expertise and experience, a good accountant can help you formulate solid strategies surrounding your finances, to help you grow your business sustainably.
● Your taxes are in a mess
There’s no better professional than an accountant to help you set your taxes to right, and with so many different strategies to reduce your tax burden, an accountant can actually save you money on your taxes.
● You need help preparing your tax return
Preparing a tax return can be a time consuming and lengthy process, and you want to be sure to get it right first time around. With an accountant on hand to help, you can prepare your taxes perfectly.
● You’re being audited by the IRS
Accountants can be immensely helpful should you find yourself being audited by the IRS, and if they’re trained as a CPA, they can even represent you in court.
While there are undoubtedly occasions when a business owner might benefit more from the expert guidance of either professional, there is almost certainly an argument for seeking help from both, too. When it comes to your taxes, however, an accountant is undeniably the best person for the job.
At Heyer Inc, we proactively assist our individual and small business clients in meeting their goals. Our key area of focus is ensuring that our clients remain compliant with federal and state tax laws by providing them with high quality accounting and tax services Miami. If you are looking for an individual accountant in Miami, heyer inc would be a right option.