When it comes to running a small business, most business owners wear several hats. They are the boss, the worker, the marketing professional, the secretary, and even the bookkeeper and tax preparer. The problem is that spreading themselves too thin usually winds up costing business owners their businesses, especially if mistakes are being made in their accounting. However, hiring a professional accountant can shift the burden of keeping track of a company's money and taxes to the accountant, someone who has a much deeper knowledge of the bookkeeping and tax laws that surround different types of businesses. If you are a small business owner, there are many reasons you need to hire a professional accountant for your business.
First and foremost, it's cheap. You will only have to pay for the services and time you use your accountant's services. This means that you can have them record your company's financial transactions once a day, once a week or once a month, depending on the volume of transactions you perform and your budgetary constraints. Most accountants have very reasonable rates, which means that you can keep your books in perfect order for much less than you cost yourself in lost time and production.
Additionally, professional accountants are required to attend a certain number of continuing education seminars and such in order to stay up on all the latest changes to tax laws and other financial industry changes. This means that no matter what business you are in, you can rest assured that your books and taxes are always compliant with the latest laws. This is invaluable as many small businesses often find themselves the target of a tax audit at some point during the operation of their businesses.
And, speaking of tax audits, did you know that by having your books and taxes done by a professional accountant means that if you are audited, you aren't alone? That's right. Your accountant will be with you, fielding questions and providing documentation for deductions and more. Because they are intimately familiar with tax laws, not only are your deductions most likely in accordance with tax laws, but your accountant can provide the necessary proof of the deduction.
And last but not least, hiring a professional accountant means that you are free to address all of the other functions you are in charge of in order to keep your business running.
If you are a business owner and are in need of a professional public accountant, consider hiring the professionals at Lanphier Accounting LLP
. They offer a wide range of services to fit your needs. Whether you need bookkeeping services, tax preparation services, payroll, business valuation services or something else, know that Lanphier Accounting LLP has got you covered. They have years of combined experience in many areas of accounting and can help you keep your business on financial track. For more information regarding the services offered by Brittany S. Lanphier CPA
or to schedule and appointment, please visit http://cpafirmco.com/. You'll be glad you did.