WHEN YOUR BUSINESS IS STARTING OFF
Accountants can assist a small business at different stages of growth To get your business off to a good financial start you need to consult a CPA Your accounting and tax reporting responsibilities will be determined by how you register and run your business for the rest of your career
WHEN FILING TAXES OR BEING AUDITED
Whether you run a sole proprietorship or a corporation it is a given fact that tax season is a business burden It is full of risky and expensive mistakes when done incorrectly Long before the deadline for filing, business owners need to have a second pair of eyes to review their tax forms
WHEN YOU APPLY FOR A LOAN, GRANT, OR OTHER FUNDING
Even for business owners with a track record of profitable operations, applying for a business loan and other forms of funding can be difficult Establishing credibility is the first challenge, which is particularly challenging for new firms and startups However, a CPA can help you in staying on top of things and navigate the rough waters
WHEN YOU REQUIRE ASSISTANCE WITH FINANCIAL PLANNING AND ANALYSIS
Planning and analysis are two areas where accountants thrive One of the main advantages of employing an accountant is having access to their depth of financial knowledge
WHEN YOU NEED TO SAVE TIME
If daily duties like tracking expenses, verifying transactions, data entry or processing receipts are taking up your time, a bookkeeper could be the right fit for the job However, if you require a front-line professional to analyze your company’s operations, trends, costs, and revenue on a regular basis, it may be time to hire a CPA
WHEN SHOULDYOU HIREACPA? THE BOTTOM LINE
As you can see, accountants can assist you at every level of your company’s growth
The right accountant should make your life easier so you can focus on what you love There is no exact science to knowing when to hire an accountant However, there are some clear cases where it makes sense to use their skill set When starting or growing your business, creating a financial plan, evaluating business reports, or applying for funding, consult with an accountant
