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Do You Need an Accountant for Your Small Business?

  • Deciding whether you should hire a professional accountant or balance your own books
  • For any kind of business organization
  • Avoid costly financial and tax mistakes

Small business owners are accustomed to taking on a wide range of responsibilities when they first launch a venture, including balancing the books and managing financial obligations. But for entrepreneurs who are less confident in their number-crunching abilities, or those who find themselves with less time for these matters as their company grows, hiring a professional accountant can be a good move.

Accountants can provide guidance and advice on a wide variety of financial matters, whether you’re just starting up, managing day-to-day operations, or preparing to expand. Some matters they can assist with include:

  • Choosing your business structure
  • Assessing the financial section of your business plan
  • Preparing financial reports
  • Ensuring compliance with tax requirements and other financial rules
  • Finding tax credits and deductions
  • Assessing whether your company is prepared to make a major capital investment
  • Determining potential areas for growth

An accountant can also greatly reduce the stress of managing your financial matters, while also being a trusted source of support. When choosing an accountant, you can get recommendations from family, friends, or colleagues. You should also check a potential candidate’s references and make sure their experience aligns with what you’re hoping to accomplish by hiring an accountant.

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