How Can an Accountant Help My Small Business?
Why do small business owners need accountants? That is what many entrepreneurs may be asking themselves. Small business owners are used to being hands-on and handling many of the tasks involving their businesses themselves, so why should they not handle their own accounting as well? While it may seem like a cost-cutting measure to handle their own accounting, small business owners may actually be able to save more money by hiring an accountant.
What Accountants Can Do to Help Small Business Owners
There are several ways that an accountant can help a small business owner, including:
- Helping to determine the most financially advantageous business structure for a business owner’s situation. In some cases, that may be a sole proprietorship. In other cases, an LLC, partnership or corporation may be best.
- Ensuring a company’s accounting procedures are in compliance with government rules and regulations.
- Helping to determine what estimated tax payments an entrepreneur needs to make throughout the year.
- Making sure that your employees and independent contractors are properly classified according to IRS requirements.
- Helping to prevent you from being audited by the IRS and/or preparing you for and guiding you through an IRS audit if necessary.
Silicon Valley Accounting Solutions has been providing businesses with the highest quality accounting services for years. We adjust our approach to meet the needs of your company, including at start-up and throughout the years as your business grows. In addition, after we have installed a finance and accounting infrastructure that meets the needs of your company, we will stand down. That way you do not have to worry about making a long term commitment to us. However, we are always standing by to step in and help as needed.