Small businesses are constantly grappling with new challenges. From managing core operations to keeping things under control, the top management has many things on their plate. Inevitably, some of the tasks have to be outsourced. If you are wondering whether you need an accountant Aventura for your small business, here’s what you need to know.
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What can an accountant do for your small business?
CPAs do much more than just handling records and bookkeeping. If you hire the right firm, they will:
- Review your existing statements
- Resolve tax and accounting issues as needed
- Make quarterly and annual financial statements
- Help with installing accounting software
- Take care of the paperwork
- Ensure compliance with state and federal requirements
- Advise on tax-related matters
- Help with tax planning and preparation
- Offer advice on financial planning & expansion
- Offer additional services like forecasting and analysis
- Guide on payroll accounting
How to find the right accounting firm?
Not every accounting firm is well-versed with the needs of small businesses, and it makes sense to do some initial homework. Check some of the tips listed below.
- Ensure that the firm has worked with startups and small businesses in your industry.
- Ask them about their service profile.
- Make a list of services you expect from the firm.
- Talk to other business owners to find possible references.
- Ask for a free consultation to know the firm better.
- Get a few references and check their clientele.
- Find more about an accounting firm based on online reviews.
- Ask about the accounting software they use.
- Ask if they can offer help with managing regular accounting needs.
How much does it cost to outsource small business accounting?
It depends. Most firms charge a fixed price for their standard packages, and the price is either payable once every month or annually. A good accounting firm will evaluate the needs of your business, determine the extent of work involved, and give an estimate accordingly. For instance, if you only need help with tax filing, you don’t have to pay as much.
Final word
Hiring a small business accountant is not just about saving money. It also has a lot to do with availing expertise without paying a fortune. You can always meet a firm and its team of accounting experts to know what they can do for you. If the same service can handle both accounting and tax planning, that’s always an advantage.
