Do Small Businesses Need an Accounting Firm?

When owning a small business, all accounting obligations fall on the owner – accounts payable, accounts receivable, cash flow, taxes, annual statements, and payroll – just to name a few. When a small business owner is trying to handle every aspect of the business, details can get overlooked. Furthermore, as your business grows, your finances get more complex, leaving margins for error. Accounting errors can get really pricey really fast. To save you from these headaches, it’s best to hand over your accounting needs to an accounting firm.

Reasons to Use a Certified Public Accountant (CPA)
Manage your finances: CPAs can help with managing the business financially and provide advice on how to structure your business for the future. CPAs will provide a comprehensive plan for growth to minimize risk and maximize profits.

Plan your taxes: It’s no secret that taxes are complicated. Filing taxes incorrectly can be quite costly. Hiring a CPA will navigate the complicated tax filing process to take the weight off your shoulders so that you don’t have to worry about tax planning.

Prepare financial statements: CPAs will make sure all legal requirements are met and that deductions are calculated correctly when filing taxes for your business. They will also help prepare annual statements, financial statements, quarterly financial reports, and address other government requirements and communications related to audits.

If you are ready to hire a CPA to handle your business accounting needs so you can focus on other aspects of your business, JTS Associates CPAs, P.C. is here to help. Contact us at (516) 877-5900.