Not only can a certified public accountant handle traditional tax filings and fiscal reports, they could also act as your business adviser on a broad variety of issues, including: budget plan creation, cash flow projections and investment analysis. While some highly qualified bookkeepers may also handle several of those functions, you can find certain items that only a licensed public accountant will handle, like audits of public company books.

The financial expertise of a certified public accounting firm can be invaluable, helping a growing business determine simply how much debt the company can handle; the pros and cons of a loan vs. a bank line; as well as the way to seek financing from investors. The certified public accounting firm also can handle the greater mundane bookkeeping (sometimes misspelled book keeping or bookeeping) but often at a larger cost.

A qualified public accountant (Hire CPA) could make recommendations on selection of systems available, and know-how to establish internal procedures and gather important information.

Many small business owners will call their CPA firm only when it's time to prepare taxes at the end of the year. In contrast, you can save cash on taxes and business expenses year round:

Deductions

Your CPA firm can advise you regarding how to keep business and personal deductions separate, which creates a significant advantage at tax time. And at what amount of deduction each expense belongs.

Financials

Your CPA firm can review your financials regularly - another major advantage at the end of the tax year. Consistent and regular financial analysis is key to a healthy business portfolio.
Business Advice

The financial knowledge of a qualified public accountant and his/her expertise make for an invaluable component of your small business--one that will offer direction and long-term guidance.

ISSN: 1692-7257