Do you really need an accountant for your small business in Atlanta, Georgia?
There are so many amazing entrepreneurs in the Atlanta area these days, which means there are also a lot of accountants for small businesses in Atlanta, Georgia. But is it a sham? Do you really need an accountant for your small business? There are a lot of small business owners that think they don’t need an accountant if they run a small shop, but it’s time to take a look at that perspective and consider 4 reasons to hire an accountant for your business, no matter the size.
1: Does a Small Business Need an Accountant In the Beginning?
When you’re just getting your business going there are a lot of decisions to be made. Not only are you working to get your product, service, or idea out there to your potential customers, you also have to worry about getting your business set up properly. It can be confusing and challenging to make the right decisions regarding the setup of your company. This is where an accountant can help in the beginning.
A good accountant can help advise you when you’re deciding what type of company structure to form. Whether it’s a sole proprietorship, an LLC, or a corporation, an accountant understands which will fit your business and your goals the best.
An accountant can also give you financial guidance to help you manage your money, maximize profits, and limit your personal liability. This is critical in the early phase to set the stage for success.
2: Can a Small Business Accountant Help Your Day-To-Day Operations?
Once you’re up and running, no matter what the scale, even if it’s just you running the show, an accountant can get you set up with the right day-to-day processes and help you manage all of your financial transactions. Accurate record keeping and bookkeeping, payroll, and reporting of your finances is key to your success. An accountant can use the latest software and technology to ensure your cash flow and expenses are up to date and that all of your financial data and reporting is done right.
3: How Can an Accountant Help with Your Business Assets and Planning?
Your accountant will become familiar with your assets and can help guide you when making new purchases and signing new contracts with vendors. They can help you make sure you’re in compliance with tax benefits and write offs regarding any purchases, and they can advise you when you’re doing business with other companies.
Thinking of making a big investment in something that seems crucial to your growth? Ask your accountant first. They’ll be able to tell you if that purchase has value or if it’s going to create hardship for you and your business. This can help you make the right choices for your growth without taking financial risks you might not be able to afford.
4: Won’t You Be Glad You Have Your Own Business Accountant at Tax Time!
One of the most important things an accountant can do for your small business is tax preparation. Taxes scare most of us, even if we don’t own a business, so as the owner of one, you need to be sure you’re protecting yourself and your businesses from tax errors you could be making on your own.
Accountants are responsible for tax preparation that happens throughout the year with proper record keeping, but especially when taxes are due and the forms all need to be carefully filled out and submitted. Not only that, but they understand the ins and outs of tax law and all the changes related to it so they can give you advice on tax breaks you can take advantage of legally as well as keep you compliant to safeguard against audits.
Should You Really Try to Be Your Own Small Business Accountant?
As a business owner, you wear many hats. One of those hats that you should consider handing off is that of an accountant. In order for you to do what you do well, which is run your business, letting someone else handle your financials gives you the time and freedom to focus on your business and its growth and success.
Learn more about how an accountant for small business in Atlanta, Georgia can help your business, and download a free report on maximizing your use of QuickBooks here.