Small business owners often wear a lot of hats, such as manager, payroll processer, HR generalist, marketing executive and lead salesman. It’s a lot to handle—and you probably feel as if there aren’t enough hours in the day.
If you’ve been on the fence about hiring a CPA firm because you need help lightening your proverbial load, you should know there are many benefits that come with that decision. Below are just a few of the reasons that small business owners should hire a CPA.
What is a CPA?
A certified public accountant (CPA) is a licensed accountant who has met their state’s licensing requirements. The licensing examination is given over a period of several days and it includes many facets of financial expertise. To keep their license current, CPAs must take continuing education classes and stay current on changes to the tax code.
You can’t be an expert in everything
Tax laws are complicated and they’re constantly changing. When you work with a professional CPA you’ll have the peace of mind that comes with knowing the person who’s handling your taxes is an expert in their field.
They can help you prepare financial statements
If you plan to expand, you’ll likely need to provide financial statements to your creditors, your bank and potential investors. A CPA will understand how to do this properly, and how to update your ledger balance to include profits, losses, debits, and business assets.
It’s best to have a business tax expert handle your taxes
When you work with a CPA you’ll be partnering with an expert that understands how to file your taxes properly and maximize your deductions. It will also ensure that you don’t inadvertently make a mistake on your taxes, which could lead to an audit. Working with a CPA out of the gate will give you the peace of mind that comes with knowing your tax documents have been prepared and submitted in accordance with the law.
Have questions? Call Hughes Snell and CO., PA today
If you’d like to learn more about the benefits of hiring a CPA to help your small business, we can help. The experts at Hughes Snell and CO., PA have bene serving clients throughout the area since 1974. For more information on our company, or to schedule a free, no-obligation consultation, call our office today at 239-939-2233 to get started. Our office is open Monday through Friday, 8:30am- 5:30pm, holidays excluded.
