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Is It Time to Hire an Accountant For Your Small Business?

  • Less than one-third of small business owners use an accountant, according to a 2019 survey
  • Balancing your own books offers short-term savings, but hiring a professional offers a range of benefits
  • Many accountants go beyond traditional financial work to offer additional support services

As small business owners who took out a Paycheck Protection Program loan proceed with the forgiveness process, many have found themselves looking for an accountant to help with the paperwork. While some entrepreneurs will only make this a temporary arrangement, others may decide that they can benefit from a longer relationship with this professional.

One 2019 survey found that just 30 percent of small business owners work with an accountant, opting to manage their own finances in order to save money. However, hiring an accountant can save valuable time while also ensuring that the company’s financial management is done properly, reducing the possibility of an audit or other problems.

Accountants can assist with a variety of financial services, ranging from taxes to cash flow analyses. Small business owners may also find that a trustworthy accountant is a valuable source of business advice and other support.

To review a list of accountants in Connecticut, visit the BizLINK directory.

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