Does Your Business Need a CPA?
Offering a full service package which includes an onsite CPA is highly beneficial for any business. It completes the CFO’s team enabling immediate results on everything financial without having to wait for a call back or sensitive documents to be delivered. There are many reasons your business needs to hire a CPA, including these five.
You Need to Specialize
You started your business to do what you do best. Being sidelined by financial statements, tax guidelines and other day to day fiscal responsibilities can be overwhelming. Having a CPA to take some of the reins and help steer the ship is liberating. Note: Keep in mind that no one is impervious to temptation so stay as hands-on as you can, making sure to get daily updates.
Possible Business Ideas
A talented and seasoned CPA will often come with a trove of ideas that may be able to be applied to your business. This could include offering a different payroll system, passed over tax breaks or even marketing strategies according to number models experienced at other companies.
Hiring a CPA May Save You Money
In the long run a good CPA can possibly save you money. If you or another unqualified person missed specific tax requirements in the past, some serious fines and interest could be implemented. A good CPA will hopefully make fewer mistakes than you. When it comes to taxes, bank rate adjustments, insurance packages and employee benefits, a CPA is worth their salary.
Your CPA Will Teach You
Having a CPA in the office is like having your very own personal money coach. Anything they work on is open for your inspection and questioning. In the past you would spend hours poring through texts or online courses, now you can utilize your in-house CPA for guidance which often crosses over to personal as many CPA’s work on their employer’s personal tax returns at no charge. If they ever leave your company you will have had years of personal training.
Your CPA Will Handle Audit Requests
If you have the unfortunate experience of having to be audited by the IRS you can use your CPA for audit prep. This also applies to an off-site CPA but then you will have to deal with appointments and scheduling. When your CPA is at your disposal you do not have to compete with any other clients that may take his or her time when you need it most. A good CPA knows how to communicate with an IRS agent often being able to lower any penalties or fees that could otherwise be much more if you were in it with someone who did not deal with the daily ins and outs of your business.
Overall, having a CPA on staff is just another plus in keeping your company running smoothly. It is someone who will watch your back at all times making sure nothing comes back to haunt you. They’re not hard to find, either. Simply contact a company like Accounting Principals finance staffing agency and you’ll have your hands on a pool of talented professionals before you know it.