Why You Should Turn to a CPA as a Small Business

If you need help with your taxes for your small business, turning to CPA is one of the best options. Here are a few reasons why you should consider doing so.

Why You Should Turn to a CPA as a Small Business

Ensure Everything is Done Properly

As a small business, you likely have a lot of deductions, expenses, and income you’ll need to report. This can be confusing if you aren’t used to handling taxes beyond personal taxes. Having professionals take care of this for you can make things easier in the long run.

Free Up Time

Freeing up time for yourself is important. Using outside professionals such as the United CPA Association can allow you to focus on your business and make it easier to concentrate on what you need to do.

Have Another Set of Eyes Double-Check Business

Even if you know how to file taxes for your business, it never hurts to have another set of eyes double-check everything. You want to avoid any potential mistakes that could cost you money by having someone who is experienced in taxes take over for you.

Having professional CPA handle your taxes can help you ensure everything was done correctly while freeing up time for you. It can help to have someone else double-check everything so you can avoid further problems later on.…

Small Business Checklist

The thought of being an entrepreneur is exciting for many people. However, those who decide to pursue their business ventures may find themselves overwhelmed during the formation stages. There is a lot of information to process and things to do besides coming up with a catchy brand name and slogan. To make it easier for new small business owners to succeed, here’s a handy little checklist to consider.

Small Business Checklist

1. Structure Is Everything

There are four business structures that entrepreneurs can choose from. They are sole proprietorship, corporation, partnership and LLC. There are also substructures to keep in mind, such as C and S corp., joint ventures and limited partnership. It is important to consider each one carefully because they have different tax and legal liabilities.

2. Take Care of Employees

Employees are vital to many companies. To attract and promote a small healthy company culture, it is imperative to provide employees with the right kind of incentives and benefits. Put yourself in the shoes of potential workers, and think about the kind of benefits they would like. Consult with several companies, like captive insurance companies, to get a firm idea of options. Choose benefits that ultimately help to mitigate potential issues that could arise down the line that could negatively impact your employee morale and retention, such as health insurance, benefits packages, etc.

3. Small Plan for the Unexpected

Much of operating a successful business is planning for the unexpected. Problems can arise at any time and create challenges that impact the flow of operations and the company’s reputation. Consider consulting with a business attorney or legal expert to learn how to mitigate as much risk as possible to protect the business.

Starting and running a business is not as simple as it may seem. However, taking the proper steps and using this little checklist during the formation stages can help make the experience less challenging and more rewarding.…