Most small business owners would only hire an accountant when the numbers become too complicated for them to handle. Most of the time, the business owners themselves or someone on the staff would be the one tasked with taking care of the numbers. There are times however when things become a bit too complicated for them and they have to resort to getting some professional help. Even with the use of accounting software like QuickBooks, there would come a time when things might be beyond you.
Unfortunately, picking a good accountant is not that easy, but it would be worth the effort. Here are some of the things that an accountant can do for you:
Tax Returns- This is probably the most common reason why people hire accountants. Though there are means for a layperson to do this, sometimes things can be so complicated that they would actually need the help of a professional to clear things up.
Tax Planning- You should seek the help of an accountant right from the very start of your business. An accountant would be able to tell you about how to conduct the financial side of your business.
Business Planning- Surveys show that accountants are the most trusted persons when it comes to providing business advice. If you want to introduce a new product or service for example, an accountant would be able to tell you why that move would or would not make any sense, purely from a business point of view.
Networks– An accountant is a good source of referrals simply because they deal with all kinds of professionals. They would know lawyers, agents, brokers and they can even refer customers to you. You would find them to be an excellent source of referrals.
Personal Tax Planning- Your accountant should also be able to help you out when it comes to planning your personal finance, especially your taxes. Their expertise would also go that way and they can help you to straighten out things.
When picking the right accountant the most important factor that you should consider is experience. How many years have they been practising? It is best if you stick to someone who can show a great deal of experience in the field, just to be sure that they would know how to handle things when it starts to get rough. Online directories can help you make the decision. But you should not forget that it is also important that you be comfortable with them.