David Amirian, a real estate developer in New York City, began to realize his company’s accountant wasn’t performing as well as they should. He had the company books checked by a professional only to discover errors accounting for over $100,000. David knew he needed to find an accountant he could trust with his business. Anil at 212 Tax was able to step in and give him the support his business needed to grow.
Having an underperforming accountant is a recipe for disaster. Bookkeeping errors might seem minuscule at first but can quickly add up to a number of problems like lost revenue, business devaluation, and even IRS trouble. Here are four reasons why your business needs a trustworthy accountant.
1.As a business owner, you’re really busy.
Business owners have a lot to worry about. Whether you’re a small business where you’re the only employee or a large corporation, there are a lot of things to keep busy with as a business owner. You know just how important it is to keep your business finances up to date and organized, but you don’t have the time to do it yourself. You need to trust that your accountant understands your business and will treat it with the same care you would yourself.
2. You understand the importance of filing taxes correctly.
Filing taxes is confusing enough without the added stress of filing as a business. There are deductions to consider, state taxes, and the stress of calculating quarterly payments. The National Federation of Independent Business reported one of the biggest concerns of small businesses is filing taxes correctly.
You understand the importance of filing correctly as a business owner, but you don’t know how to navigate the complicated tax process yourself. That’s why it’s so important to have a trusted accountant who understands your unique filing situation. Filing incorrectly can result in owing the IRS damages or facing complicated tax situations.
3. You want to make the best financial decisions possible for your company.
Many people fall into the belief that accountants are only good for filing taxes. While they definitely do specialize in taxes, a great accountant can also provide valuable business insight. An accountant with several years of industry experience can be a wealth of information about business practices, investing, and building capital. They can also help predict growth, trends, and other valuable statistics.
4. You want to strengthen and grow your business.
A 2014 survey conducted by the Turnaround Management Society reveals that the poor financial planning is the second most common reason for business failure. If you want to avoid having your business join this statistic, you’ll need to find a trustworthy accountant who can have your back on the important issues. A qualified accountant can help you decide the best time to grow your business or collaborate ideas for greater success.
Speak to a trustworthy accountant today and rest easy.
The best way to feel confident in your business is to find an accountant you can trust. As a business owner, your focus should be on what you do best. Let a qualified accountant take the reins for the finances so you can continue to succeed in your business. Speak to an expert at 212 Tax today to see how they can help your business.