Five Reasons Any Small Business Owner Should Have An Accountant

Many small business owners do what they can to avoid the services of a professional accountant

. With programs out there such as QuickBooks, it is very tempting to simply do the accounting in-house. While this is an option that many take, many are unaware of how much money they are losing by doing it themselves. A professional accountant can find many ways of saving the company money as they are trained in that area of expertise. There are several reasons one should hire a professional accountant.

A company's income tax returns are complex at best. There are many assets, losses and ins and outs that must be considered. Those who are trained in the area of income tax returns know exactly what deductions can and should be taken and are usually able to save quite a bit more money than someone who is not trained.

The second reason a small business should invest in the services of a professional accountant is for the sake of their financial statements. A company absolutely cannot turn a profit if they are uncertain of what their costs are. Ensuring that the financial statements are accurate will ensure the success of the company in the future.

Something that many people believe is that accounting systems can be used by anyone. In fact, they are incredibly complex and should not be handled by a novice. The third reason to hire an accountant is to manage whatever accounting system the company is using.

The fourth reason one should hire an accountant for their small business is to save time. The owner absolutely cannot do everything him or herself. Delegation is a key component to expansion. Leaving the company finances in the hands of a capable and dependable professional will ensure that they are done correctly while still leaving time for the owner to do what he or she does best.

The fifth reason someone should invest in the services of an accountant is to have a plan for litigation support. Waiting until one is in trouble and in need is not the best time to be shopping around. Decisions made under stress rarely turn out well. Those, on the other hand, who have already been working with an accountant, have had time to establish trust and feel good about their decision to use the accountant for litigation support if there is ever a need for such a thing. Indeed, there are many different reasons one should invest in the services of an accountant.

by: Art Gib

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