It has often been said that half of small businesses fail within the first 5 years. Some of the reasons that can be found by experts are poor management, inventory control, and trying to do it all as a business owner. Among those, and behind some of them, is not hiring an accountant.
Many business owners do not hire an accountant because they figure they can do that themselves, as if it is not a specialized trade/service/job within the business. You would hire a lawyer, someone to help with marketing, or a consultant, but people overlook the professional that handles the most important aspect of your business… money.
Deciding to hire an accountant is the first step in properly managing your finances. Without your finances being handled correctly, you won’t have a business for very long. Equally important is the fact that as a business owner, your job is to grow the business. However, if you are spending all of your time doing every other job within the business, it has very little chance to grow, or maintain. If it does, you’ll have one hell of a headache in the process.
It may be just numbers, but numbers are very important, and the consequences of doing it wrong are much more than the savings from hiring an accountant. Making a mistake on your tax forms or your bookkeeping could be detrimental to your company, and should be avoided at all costs. Don’t stress during tax season, and consider hiring an accountant instead. In addition to saving stress and time, your accountant can usually help you maximize your spending, or at least track it so that you know where your money is going.
Our team of accounting experts can help you cut costs, save money and save time. If you or your business need tax services, please contact us to schedule your tax preparation appointment today.