When you own a business, you oversee every detail, from hiring to accounting to marketing. But even if you can handle all these aspects yourself, sometimes your energy is better spent focusing on your core business services while letting someone else address the administrative side. Find out when it makes sense to hire a certified public accountant to improve your bottom line.

3 Reasons to Hire a Certified Public Accountant

1. You Are Deciding How to Structure Your Business

Different types of business structures have different requirements in terms of taxes, reporting, and liability. Possibilities include an LLC, sole proprietorship, partnership, corporation, or co-op. When you're first getting your operation off the ground, a CPA can advise on the legal entity that best suits your needs.

2. It’s Time to Complete Your Business Tax Return

Even if you've handled your own taxes in the past, hire a CPA for your business tax return, which is different from an individual filing. There are added elements to consider, such as what paperwork you need to file regarding employee taxes. A CPA will also be up-to-date regarding state and federal tax regulations, which change regularly.

3. The IRS Is Auditing You

The IRS may select you for an audit or simply send you a notice requesting additional information. Either way, this is good time to hire a certified public accountant. These professionals have experience handling IRS issues and can advise on how to best respond to clear up any misunderstandings and avoid delays in filing your taxes. 

If you’re looking for a certified public accountant for your business, trust in James & Associates. in Wailuku, HI. With over 25 years of experience, these professionals offer a comprehensive array of accounting and financial services, including bookkeeping, tax return preparation, and IRS representation. They work with businesses, non-profits, and individuals. Visit their website to view their services. For an appointment, call (808) 244-2030.