Many small business owners assume they don’t need an accountant, deciding instead to handle the financial paperwork themselves. Not only is this time-consuming, but it can also lead to simple mistakes with consequences later. Turning over those tasks to a CPA will save money in the long run and provide other advantages that go far beyond day-to-day record-keeping.

Why Every Business Needs an Accountant

1. Launching a New Business

You might have a great idea, memorable branding, and the perfect location, but do you know which corporate form would be best for the new company? An accountant will explain the differences between LLCs, corporations, and partnerships, including how the one you choose might impact your tax liability and compliance requirements.

2. Keeping Up With the Bills

Paying outstanding invoices, utility bills, and lease payments can be overwhelming, especially if you’re trying to handle everything yourself. Having a financial professional handle these will free up hours every week that you can spend building your business.

3. Generating Accurate Reports

Successfully applying for financing, deciding whether to invest in new equipment, or launching new products depends on having an accurate view of your company’s finances. Seasoned accountants use cutting-edge software which generates reliable reports at a moment’s notice and eliminates any guesswork.

4. Guiding You Through an Audit

Being selected for an audit is always stressful, especially if you’ve been preparing your taxes alone. Along with handling the taxes every quarter, a CPA will also represent you with the IRS and guide you through the entire process.

With Selph and Friday, CPA, business owners throughout Texarkana, TX, enjoy the benefit of personalized attention from skilled accountants with nearly 30 years of experience. Whether you’ve been in business for years or are just launching a new company, you can rely on this firm for fast, accurate services tailored to your needs. Visit the website or call (903) 792-0281 to make an initial appointment, and follow their Twitter for more tips and advice from the professionals.