Small Business Accountant – A small business accountant can do more than just handle your payroll. They can be a vital part of your business from the very beginning, helping you with setup and different outside organizations. If you’re considering hiring one, here are some times where a small business accountant can make a world of difference.
Writing a business plan
If you’re starting a business, it’s a good idea to have as much financial information as you can. That way, you can make wise decisions early on that will help you get the best start possible. When writing your plan, a small business accountant can also help you get the projections you need to sell the plan to potential investors.
A small business accountant can also help you decide what legal structure you want for your business. There are several different possibilities, from sole proprietor to corporations, all with different advantages and disadvantages. A small business accountant can help explain each of the possibilities and help you decide which one would be best for you.
Dealing with the government
Bringing in outside help can make all your government interactions both easier and more reliable. A small business accountant can handle any tax complications that arise. They have the experience and knowledge needed to understand recent changes in the law and can make those laws work for you as effectively as possible. They can also make sure all the employees’ tax codes are documented correctly in the payroll, and their W-2s are sent out on time.
In addition, a small business accountant can also handle all the little finicky details the government looks for in a company’s records. This includes everything from completing and filing compliance documents to updating your company’s status in the government registry. For a slightly larger small company, this can also include organizing and recording any stock allocation among employees.
Understanding your finances
This is more complicated than just handling payroll and expenses. A small business accountant can also help you understand key metrics for your particular company. Whether it’s the ratio of salaries to revenue or changes in cash flow, they can help you understand your business on a deeper level. That understanding can help you constantly improve your business and help it grow to the next level.
Whether you’re just starting a business or are already going strong, hiring your own small business accountant might be just the boost your company needs. Check out Ray’s Accounting today to find out everything he can do for you and your business.