For many small business owners, hiring a tax accountant may seem like an indulgence, especially in the early years when resources are limited. However, these tax professionals provide critical services that actually reduce your tax burden and effectively manage your finances. Below are a few reasons every business needs a skilled tax accountant.

3 Ways a Tax Accountant Will Help Your Business

1. Saving You Time

Tax return preparation is often a long and time-consuming process, requiring many business owners to collate receipts, fill out forms, and prepare the necessary documentation. Hiring a tax accountant gives you back the hours you otherwise would have spent preparing your returns, which you can use on more productive and profitable activities.

2. Maximizing Your Deductions

The tax code is incredibly complex and subject to changes. Even the most experienced business owner may miss valuable deductions that could substantially reduce their exposure. Drawing on their extensive and frequently updated knowledge of the code, your accountant will ensure you claim every credit and deduction you qualify for, which could save you thousands of dollars every year.

3. Planning for the Long Term

Effective tax planning is a year-round project, influencing the timing of major purchases and investments. The advice of a knowledgeable tax accountant will help you develop a long-term tax planning strategy that can further lower your tax liability. For instance, they may recommend waiting until the following year to purchase new equipment, or fast-tracking an investment to offset higher-than-average revenues.

Thanks to her wide-ranging expertise and customizable suite of business services, businesses throughout Gig Harbor, WA, rely on Linda M. Shiraiwa CPA, PS Inc. for everything from tax accounting to payroll and bookkeeping. No matter what industry you’re in or the size of your company, she has the specialized skills to take the stress out of your tax planning. Visit her website for a closer look at her tax accountant services, or call (253) 858-6030 to schedule a free consultation.