Managing your company’s finances can be difficult if you aren’t familiar with debits, credits, and recording transactions, but who says you have to go it alone?
Everyone needs a guardian angel sometimes, and so does your business. A good accountant can watch over your business and provide the financial expertise and guidance you need to effectively run your company.
There are good reasons for hiring an accountant at different stages of your company’s growth. From a business plan to company formation, loan applications, to a tax audit, an accountant can watch over you at each step.
All small business owners looking to save money, and you may think an accountant doesn’t fit in the budget. But look at how long it would take you to do certain tasks (such as taxes), and ask yourself, is that a good use of your time?
For example, let’s say it takes you 10 hours to do your taxes, and your time is worth $100 an hour. That’s a cost of $1000 to do your taxes yourself. And there’s always the risk you’ve made errors – especially if you’re multi-tasking like most business owners.
However, if you get an accountant to take care of time-consuming tasks like taxes, it’s quite likely they will cost less per hour than you would pay yourself. You’ll not only have extra time to free you up to generate revenue, but you’ll have peace of mind that an expert is taking care of the details.
So, how do you find a good accountant?
Referrals – ask other local, successful businesses if they have an accountant they are satisfied with, and find out what services their accountant
Utilize the internet and social media channels – take a look at the accountant’s website and social media. Do they blog or post useful information regularly?
Schedule a meeting or phone conference – have a list of questions ready. You should also have a copy of your most recent tax return handy. An accountant will often ask to see this, as it gives them a better picture of your business and tax situation.
If you are currently in the market for an accountant, don’t hesitate to contact us!