Small business owners often have a difficult time determining when to hire an accountant. While there is no hard and fast rule for the right time for a small business to hire an accountant, there are signs to look out for that can indicate that you may benefit from an accountant’s help.
You are Spending Too Much Time on Paperwork and Bookkeeping
If you notice that you are spending almost as much time on paperwork and bookkeeping as you are running your business, it’s probably time for an accountant. As your business grows and you become more pressed for time, your paperwork also becomes more complicated. This can lead to costly mistakes. Small business accounting services that Mesa companies trust to help with paperwork and bookkeeping save an immense amount of time and cut down on errors.
Your Bookkeeping is No Longer Current
It is easy to become complacent with your bookkeeping when everyday tasks seem much more urgent. This results in many small businesses to fall behind with their bookkeeping, which can have serious consequences. If your bookkeeping is behind, an accountant can help bring it up to date, as well as ensure that it is done correctly. This saves time, money, and stress and lets you rest easy knowing that you won’t be overwhelmed when tax season rolls around.
Taxes are Becoming Difficult to File
The more your business grows, the more expenses and tax forms you will have to fill out. When accounting for small business, Mesa companies sometimes go to fast tax services that pop up during tax season. These pop-up tax preparers tend to be under-trained and overpriced, which can cost you more in the long run. If you notice that your taxes are becoming an overwhelming task, having an accountant for your small business year-round ensures that your record-keeping is done properly and that you are aware of important tax law changes when they’re most important – before tax season rolls around.
You Have Experienced Recent Growth, or Plan to Expand
Growing pains are always difficult for small business owners. Along with the difficulties of coordinating day-to-day tasks, managing staff, and everything in between, your daily paperwork and tax filings become more complicated. If your small business is growing, or if you plan to expand, hiring an accountant can help you in that process by freeing up more of your time and ensuring that your company follows and takes advantage of all relevant tax laws.
You are Being Audited
If you are being audited, hiring an accountant is a smart investment. An accountant is able to recognize issues that you may have missed, and can save you money on penalties and fees. Any time you are concerned about your tax paperwork, you are able to call your accounting company for clarification.
Small Business Accounting Services in Mesa
When it comes to accounting for small businesses, Mesa business owners know that M&M Accounting LLC provides professional and reliable accounting, bookkeeping, and tax preparation services. Contact us today to learn more about how we can help!