Are you thinking about starting a business in 2016? You’re not alone. Over 500,000 businesses open each month, creating over 65% of net new jobs in the US. However, even more small businesses shut down each month.

To be one of the successful few, you need to understand your business’s financials inside and out. That’s where your CPA comes in. Having a CPA on your team enables you to account for every dollar without distracting you from actually running your business.

Here are a few reasons why your small business needs a CPA:

Licensing

To many outside the business world, CPA and accountant are synonymous terms. However, when searching for a financial professional for yourself or your business, it pays to know the difference. Accountant is a generic term used to describe any accounting professional. Many accountants are well-trained and professional; however, it can be hard to verify this before it’s too late. On the other hand, the CPA credential ensures that the professional in question has undergone rigorous educational and professional training and has successfully met testing and experience requirements. To ensure that your business is in safe hands, choose a CPA professional.

Financial Analysis & Planning

CPAs are able to offer your business sophisticated financial analysis and planning services that are often unavailable in-house in new or smaller companies. For many of my small business clients, hiring finance or accounting personnel wouldn’t make financial sense. Instead, they outsource their CFO and controller duties

Audit Support

Unlike general tax accountants, CPAs are permitted to represent their clients in front of taxing authorities such as the IRS.  This is especially important for your business, as business tax audits are often stressful ordeals for new business owners. In the event of an audit, I provide my clients with full audit support, guiding you through the process and helping you produce all necessary documentation.

Tax

For a fledgling business, proper tax planning and preparation are essential. Each year, CPAs undergo numerous hours of training to learn the latest developments in federal and state tax law. This intensive training enables your CPA to minimize your business’s tax burden and keep your hard-earned money at work in your business.

 

Contact me today at ssamcpa21@aol.com or (828) 687-1821 to see how a CPA can help your business.