Small businesses and self-employed individuals are the heart and the driving force of our American economy. The entrepreneurial spirit is alive and well and more and more individuals are seeking to provide for themselves and their families without a traditional 9 to 5 job. Being self-employed provides many freedoms… freedom to follow your passion, freedom to spend your time the way you desire, freedom to work from wherever you desire. But it also provides for some challenges as well. Small business owners and entrepreneurs can quickly become overwhelmed in the minutia of running a successful business. Rarely does their passion include invoices, cash flow, payroll and other administrative tasks.
In addition to these necessary financial administrative tasks, it is essential for self-employed and small business owners to have access to unbiased expertise in the managing of finances and tax preparation. Below are just 5 of the ways that you can benefit from hiring an accountant for your small business.
Start up and Set up
Prior to setting up your new small business, consult with an accountant. There are so many types of corporations and it is essential that you choose the right one for your long-term financial success and for asset protection. An accountant can help you from start to finish. Barry Bandler Accounting and Tax Services can help you to start your business efficiently and quickly. If you have been in business for 6 months or even several years perhaps it is time to have your corporate structure analyzed to see if there is a better solution.
Expertise
As a self-employed entrepreneur, your expertise is focused. Your time, effort and energy must be centered on building your business. By outsourcing your financial and accounting functions, you are taking advantage of professional accountant know-how, saving yourself valuable time and money. You call on a plumber, a general contractor, an automobile mechanic and physician to handle issues as they arise that are in their expertise. Do the same in your business for your financial health.
Time Management
Running your small business while managing personal commitments is a challenge. By outsourcing accounting functions including tax preparation, payroll, sales tax and personal accounting needs allows you more time to do what you want to do while being assured that an expert accountant is working on your behalf.
Accuracy
With constant changes in the tax code and the need for accurate accounting of your accounts receivable, accounts payable, spending, entrepreneurs can quickly flounder. An experienced accountant can provide you with accurate information to help you make the decisions you need to make for the health and prosperity of your business. Numbers and analysis of financial situations are their specialty; allow an accountant to provide you with an accurate accounting of your present financial situation while helping you plan for the future.
Peace of Mind
Self-employed entrepreneurs are creative and dynamic. Often times, there is simply so much to do, so much to consider, so much to enjoy that it is easy to put the tasks off that you do not enjoy focusing on. By hiring an accountant, you can rest assured that even when your mind is focused elsewhere, your accounting and tax needs are being handled appropriately. This peace of mind comes from knowing that while you are creating new revenue streams, your accountant is diligently working behind the scenes for your financial health.
