Unsure of the value of having a CPA as a partner for you and your business? Here are 6 ways that
the expertise of a CPA can save you money:
1. Selecting business structure
The best business structure is dependent on both current and long-term operations, size, and ownership. Different business structure means different tax implications, including recording, rates, filings, and ultimately liability.
2. Providing tax planning & advice
Missed tax savings opportunities occur when tax preparation is done only during busy season. Having a CPA partner with your business means ongoing tax expertise and proactive tax planning to ensure maximum tax savings.
3. Allowing uninhibited growth
The expertise of a CPA ensure that the financials are continually accurate and the accounting system is proficient and well-organized. With business growth there won’t be a need for corrected finances, adjusted accounting methods, or updated accounting systems that lead to extensive time and costs. Rather, a CPA will ensure that the accounting and taxes will not hinder your business’s growth, but rather easily grow alongside.
4. Giving valuable help with strategic decisions
Making significant business decisions is challenging and can easily turn into a costly mistake. Partnering with a CPA means having accurate financials, specialized reports to fully inform your decision, and expert insight, ultimately equipping you to make the right decision for your business.
5. Getting a business loan
Financing may be needed to support small business growth, and requires accurate books, financial statements, and projections, all of which a CPA can provide. Each small business loan has different terms, directly impacting your business’s short-term and long-term finances. Having a CPA partner alongside this journey means you have optimal availability to loans and insight into the best loan for your business.
6. Offering efficient accounting services alongside business growth
A growing business also means a growing amount of financial transactions, tax liability, and compliance requirements. With having a CPA partner with you, the expert can continue to complete all the accounting and tax related work for your business as it increases – meeting your business’s growing needs without the need of hiring a full-time employee and incurring the additional salary, employee benefit, and tax expenses that come with a new employee position.
In addition to money savings, hiring a CPA can also save you time, stress, and headaches. If any of these savings is important to you, reach out to us today. We would love to hear about your business and see how we can best serve you.
Comments