5 Reasons All Small Businesses Need a CPA
It can be valuable to you as a business owner to get tax advice on an ongoing basis, throughout the year and not just before tax time. This will help keep your tax liability as legitimately low as possible.
Tax Law Complexity
Keeping track of the changing tax laws is difficult. Small businesses should not take the risk of missing something important or doing something wrong. A CPA is a professional accountant who is licensed by the state and is required to be up-to-date with tax law changes.
Trusted Financial Advisor
A CPA reviews financial reports and helps your business make decisions on taxes and finances. CPAs provide advice on tax planning and saving opportunities. A CPA assists in helping businesses thrive and reach their financial goals.
IRS Matters
A CPA has unlimited representation rights. CPAs represent their clients on cases involving audits, payment/collection issues, and appeals. Accountants who are not CPAs can only represent clients in a very limited manner. If you are paying to have a professional do your business taxes, make sure this person has full authority to represent you in case of an audit.
Loan or Grant Application Assistance
Having an ongoing relationship with a CPA will allow your business to be ready for a business loan or grant opportunity. A CPA will have all financial data up-to-date and ready for applying to a loan/grant officer.
Peace of Mind
Running a small business brings a lot of stress. Your business deserves someone who is certified to protect you from filing mistakes and represent you in the event of an audit. A quality CPA helps your business with strategic planning throughout the year instead of simply preparing and filing your tax return.
