A Duluth small business accountant from Accounting Partners might be exactly what you need to grow your business.
Besides the fact that your books drive you mad, the best reason for hiring a Duluth small business accountant is because you are not one. Maybe you are the subject matter expert when it comes to what you offer, but not when it comes to bookkeeping. It makes sense to hire an expert in keeping books to keep your books. Here are five reasons why you should hire a Duluth small business accountant this year:
#1: You Cannot Do Everything
When you run a small business, your independent, do-it-all spirit is what makes you a success. But delegating tasks to those more qualified to complete them needs to apply to do your books. Do not let it be hard to justify the expense of hiring an outside company for bookkeeping. Take this particular task off your plate to focus on your areas of expertise, like your business.
#2: You Do Not Know Tax Law
Even if you like doing your taxes, no one understands current tax laws as they apply to small businesses, like a small business accountant! A good accountant ensures your compliance with state and federal tax law and will have an acute understanding of tax incentives. Without the help of a qualified accountant, your small business could be paying too much in taxes.
#3: You Have Not Vetted Tax Software
You do not have time to research and test and different tax software to see what fits your business best. An accountant will have already done that for you.
#4: You Can Get Valuable Advice
Accountants do more than add up your accounts receivable and payable and manage payroll. Your accountant can be a valuable asset when it comes to growth and long-term planning. An accountant is in a unique position to provide reports relevant to your specific areas of growth and offer valuable advice to help you move in the right direction with an inside view of your financial picture. Working with an accountant can help you create the right proposals and plans for your company’s future and growth, no matter the size.
#5: You Can Hire a Duluth Small Business Accountant For Specific Services
For the most part, accountants do not come in a package that fits the needs of every business. There are areas of specialization that accountants can focus on to help businesses in various stages of their growth. Here are just a few:
- Niche accountants specialize in a specific industry such as manufacturing, oil, or food service.
- Tax accountants prepare your tax statements and keep you up to date on the latest changes and updates to tax law as it applies to your business.
- Payroll services by an accountant ensure accurate, timely payment of your employees.
- Start-Up consulting accountants help you avoid the significant financial mistakes that can come from a new business start-up.
- Software implementation with the professional advice and guidance of an accountant can ensure it supports your business needs.
If you hire the right accounting firm, you will get all of your needs met when it comes to accounting specialties, in one place. No shopping around for different types of support is necessary. There are many reasons to hire an accountant. Still, if you would rather spend your time on your clients rather than on your books, that might be the only reason you need to hear.
Are you convinced that hiring an accounting firm is what is best for your business?
A Duluth small business accountant can keep your books current and accurate throughout the year and do year-end reporting. But that is not all; an accountant can manage cash flow, handle tax audits, maintain compliance, stay current on regulatory changes, and effectively manage payroll, among other things.