4 Key Financial Mishaps That Can Derail Your Small Business

Today’s small business owners face a myriad of challenges they might never have imagined when first starting out. Even seasoned entrepreneurs are mystified about how complex the landscape has become, and how things that are even things that are out of their control can seemingly affect their brand and more importantly their customers.

At JTS Associates CPAs,P.C., our primary goal is to provide you with the expert advice you need to succeed. While it’s always tempting to try and address any issues by yourself, it’s important to realize when it’s time to bring in an expert and let them lend a hand. Below we have identified four key areas that can derail your small business before you know it. By continually planning ahead and working with our experienced professionals, you can avoid these mishaps and proactively shape your path to success.

Improper or Inadequate Bookkeeping
When a business grows quickly, it may become difficult to keep up with timely bookkeeping. When you start to realize that you are losing track of incoming receivables vs. expenses, it’s time to get help before it’s too late.

Lack of Proper Local, State and Federal Filings
The last thing you want to do is file any sales/payroll taxes late. Late fees/fines can add up quickly!

Incorrect Financial Statements
Our audit and insurance teams use an efficient and analytical approach that incorporates a thorough and objective review of your financial statements and accounting records so that you can regain confidence in your company’s financial performance.

Tax Controversy or Compliance Issues
Tax laws change all of the time. Our dedicated tax specialists ensure that tax reporting and compliance deadlines are met with timeliness.

Let us help you unlock your business’s full potential. We have two conveniently located offices in both Nassau and Suffolk counties and we make it easy to schedule a consultation with one of our trusted advisors. Contact us today to get started!