It’s not uncommon for a taxpayer’s interaction with their accountant to be limited to dropping off tax documents and picking up a completed tax return. However, many accountants provide a wide range of services to their clients, especially if they serve the small business market. Entrepreneurs and small business owners can often benefit from these additional services — if they know about them.
Adding Value Beyond Tax Preparation
Here are just a few of the ways accountants help small business owners plan for future success.
Tax advice: Most accountants, especially CPAs, offer tax planning advice in addition to tax preparation services. Tax-related issues pop up in many forms. Having a trusted accountant on your side who can help answer questions and offer advice on how to handle them is invaluable from a business perspective.
Accounting and record-keeping: Accountants don’t like messy piles of paper any more than the rest of us. That’s why many accountants offer record-keeping assistance. It helps clients stay organized throughout the year and simplifies their job come tax time!
A good accounting system helps business owners track revenue and expenses as the year progresses, providing the ability to spot trends and make adjustments as needed. Many small business owners use QuickBooks to help run the company. But QuickBooks is easier to get up and running with a QuickBooks-certified accountant’s help.
Auditing services. Accountants also provide auditing services. There are several scenarios in which a business may need auditing services. Some banks require an audit of the books when taking out a loan. Perhaps you’re buying a new business or being bought by another company. Audits will be needed on both sides before the deal can move forward. And, of course, sometimes the IRS conducts an audit of tax returns. These situations are easier to get through when you have an experienced accountant on your team.
Business advisory services. Since accountants are privy to the details of your finances — often personal as well as professional — it makes sense to request their help in pulling everything together into a single financial plan. Accountants often offer advice on the impacts of investments, insurance, and real estate deals and can point you to experts when you need more in-depth advice. A good accountant is invested in your success and is willing to help in any way they can.
Make Adams Accounting Solutions Part of Your Team
Adams Accounting Solutions provides all these services and more to small business owners and individual taxpayers. We have experience in many types of small businesses, from medical and dental practices to farms to retail operations and more.
Adams Accounting is also QuickBooks-certified. We’ll help you set QuickBooks up for your business and show you how to run the reports that provide regular visibility into the state of your business.
Let’s Get Started!
Give us a call today with questions or to learn more about the many accounting services offered at Adams Accounting Solutions. We look forward to becoming part of your team!
