One of the most overlooked services CPAs provide is accounting advisory services, yet these services are the perfect solution for the busy entrepreneur. If you’re new to running a business, there might be some things you’re not aware of. And if you’ve been in business for a few years, you might find it’s time for some extra help.
Our accounting advisory services can fill in the gaps where you need help. We can take on all the things keeping you from the work you love at a fraction of the cost of hiring a full-time employee. Here are some reasons why you should consider accounting advisory services.
You Need to Know How Your Business is Doing
When you’re busy doing the work you enjoy, things like bookkeeping often get pushed aside for client work. This can cause problems when it comes time to file your taxes. Not only will you have no idea how your business is doing financially, but you also won’t be able to make a proper plan for paying your taxes.
Let an accounting advisor sort out your books so you’re not caught off guard with a large tax bill. When proper bookkeeping practices are in place, you’ll know where your business stands financially every month. This is also useful if you need to make a large purchase—something that often comes up when it’s time to replace aging equipment.
Many business owners struggle with bookkeeping if they’ve never done it before. Guessing where to allocate expenses is not the best way to go. An accounting advisor can help you understand how to set up and manage your books month over month, so you can make sure it’s done accurately, which will save you time and money.
When your books are up to date, it’s easy to see where your profit level is, allowing you to prepare for your tax bill. And when it comes to your tax bill, we can help you manage that with our tax planning services. We don’t just file your taxes, but rather, we also help you strategically decrease your taxes.
If you are interested in learning to record your own income and expenses, with a little guidance, you can keep your books up-to-date with an accounting app. We offer accounting app training as part of our accounting advisory services, so you’ll no longer be guessing about how to do things.
You Don’t Know Where to Start
Starting a business can feel overwhelming. There’s so much to do and if you’ve never started a business before, you don’t know what you might be missing. Through our accounting advisory services, we can help you navigate the startup paperwork and make sure you get started on the right foot.
Even if you’ve never done any bookkeeping before, an accounting advisor can help you set up your accounting app and teach you how to get started. You’re never really “on your own” when you work with an accounting advisor because they’re just a phone call or email away.
Choosing the right business entity is important. How do you know if you should operate as a sole proprietor or a corporation? Each type of entity has its own advantages and disadvantages. An accounting advisor will explain the difference and help you determine which option is the best for your business.
When you work with an accounting advisor, you’ll never be wondering what’s next? They have experience with businesses at all stages of the business cycle from startup to succession planning. They can help you make sure you’re filing all the required paperwork on time.
If you have questions about your business, rather than spending hours on Google trying to find the answer yourself, pick up the phone or open your email and ask your accounting advisor. You’ll likely find answers to questions you didn’t even know you had.
There are a lot of things to do as an entrepreneur, and many people don’t properly consider these things when they’re starting their business. Stress and overwhelm can cause you to see your business in a negative light. If you don’t get the help you need, you can end up feeling so overwhelmed that it feels like the only solutions are selling or closing your business.
Don’t let things get to this point. Find some help before you get overwhelmed. Figure out what tasks you can delegate and what you can afford to pay based on your budget. We offer accounting advisory services tailored to your needs and budget.
The Government isn’t Always User Friendly
Government forms can be confusing at best. It’s never a good idea to file a form you don’t understand. This can result in you inadvertently filing fraudulent forms or your business paying more taxes than what you really owe.
When you run a business, not only do you have to deal with the IRS, but you’ll also be dealing with state and local governments. This can add up to a lot of forms and required reporting. Ignorance isn’t an excuse for filing incorrect forms. The government expects you to find someone to do it correctly if you don’t know-how. We can help!
Accounting advisory services are one of the best options to save you time and help you get your life back. Business can be tough, but it doesn’t have to be. Let us help you with your monthly accounting, show you how to understand your financial statements, or help you prepare payroll.
These tasks and more can be handled through our accounting advisory services. We’ve helped many clients in situations similar to those above. Do yourself and your business a favor by taking some of the stress off your plate, and checking out our accounting advisory services. Contact us to learn more.