You wouldn’t set off on a cross-country journey without your GPS system—so why risk navigating the sometimes turbulent waters of business ownership without a qualified tax professional to guide you?
Considering the proven benefits of hiring a Certified Public Accountant, it’s surprising that a significant number of business owners don’t use one. What’s stopping them? Below are a few of the most common reasons we’ve heard, along with some facts to set the record straight.
Excuse #1: “I built my business from the ground up. Surely I can handle filing a tax return.”
While it’s true that the most basic tax returns can be completed with relative ease, a CPA’s services go well beyond filling out a few forms and sending them to the IRS. A good accountant will provide financial guidance throughout the entire year, not just during busy tax season. He or she will help you create a long-term strategy for growth and success, looking beyond the numbers to identify the unique challenges and goals of your business.
Some entrepreneurs and start-up business owners are used to doing everything themselves, and that “DIY” mentality can extend to their taxes. While it can be tempting to try and save some money by taking care of your own accounting needs, it’s important to understand that enlisting the services of a CPA doesn’t mean you’re incapable—to the contrary, it signifies that you care enough about your business to invest in its growth and dedicate more resources to essential areas.
Excuse #2: “I’ll just go online or buy a book to find all the tax information I need.”
Although there is extensive information available on the Internet and in tax books, no amount of singlehanded research can replace the benefits of a personal relationship with a CPA. When you meet with a tax professional, he or she will be able to get a clear picture of your goals and challenges, analyze the nuances of your situation, and make a customized recommendation. While knowledge and education are essential, they’re most effective when combined with a face-to-face consultation that’s driven by YOUR individual needs.
Excuse #3: “My business isn’t big enough to warrant a CPA.”
It’s a common misconception that only very large, lucrative businesses need a CPA. The truth is, companies of all sizes and profit margins can benefit from the services of a tax professional. An experienced CPA can help with all aspects of your business financials—tax returns, bookkeeping, payroll, financial analysis, in-depth reporting, and more. This will allow you to dedicate more resources to revenue-boosting activities, such as marketing strategies, product development, and client satisfaction.
Excuse #4: “I can’t afford to hire a CPA.”
Considering the significant tax and efficiency savings provided by a good CPA, a more accurate statement would be “I can’t afford NOT to hire a CPA.” With our reasonable rates and value-adding services, our professional tax services are a no-brainer investment in the success of your business.