Many small business owners rely on DIY accounting methods and software. Although these may be good enough for a short time, problems may arise when the business owner fails to properly categorize or enter expenses and income. With an Accountant in New York City, companies can move forward, grow, and save. Below are a few reasons to hire an accountant at any growth stage.
The Business is a Startup
Startup owners must make numerous considerations in the beginning. Business plans and structures, bank accounts, locations, government regulations, and financing are all important factors to be considered. While an owner may believe it’s too early to find an accountant, the way they set up operations may affect their future success. An accountant can help an owner choose the right business structure, analyze a business plan, and help the owner make good decisions throughout the startup process.
The Company Has Employees
In the first several months of operation, an owner may feel as if there’s not enough for an accountant to do. However, accountants have the experience and knowledge to put the business owner’s money to work for them, regardless of the size of the workforce. An accountant can:
- Ensure that independent contractors and employees are correctly classified
- Oversee payment and payroll processes
- Send 1099s and W2s out at the right time
Call today to find out how an accountant can help even the newest business.
Allowing Employees and Owners to Focus on the Business
Time is a finite resource. The more time an owner spends with customers and clients, the more money they will make. When an owner hires an Accountant in New York City, they save money on benefits and taxes paid to employees who perform non-income producing activities. As the accountant does his or her job, employees are free to engage in more profitable efforts.
Questions to Ask Before Consulting an Accountant
- Does the business’ planning match the owner’s financial forecast?
- Has the owner read the tax code?
- Are employees classified accurately?
- Is the company’s budget working properly?
If the owner answers no to any of the above questions, they can benefit from the services of an accountant. Visit us or call today for additional information.
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