If you’re a small business owner, you may be finding yourself overwhelmed by the work and stress of managing your finances and future planning—especially as you experience revenue growth. Luckily, with help from a certified accountant in Jamestown, ND, you can feel confident about your business’ success and legal compliance year-round. So, do you need to hire a CPA? Check out these common signs below for some guidance:
- Your tax knowledge is minimal: Let’s face it—the U.S. tax code isn’t exactly a cakewalk. In fact, it can get downright complicated, and at times you may feel like you are navigating a confusing maze, worried that taking the wrong passage will lead to a dead end of fines, penalties or worse. A CPA will help you follow the right strategies and adhere to the right rules, so you won’t find yourself owing money or being audited for bad tax prep at the end of the fiscal year.
- Your company has grown a lot recently: It’s exciting to see your business flourish, but after that initial rush of joy, you might find yourself in a bit of a panic about what happens next. You might need to hire a few more employees, work with more vendors and claim a whole new set of deductions—just to name a few possibilities! This is when it’s crucial to have an expert in your corner who can help you set up parameters, file the right paperwork and take the stress off your shoulders when it comes to all things tax-related.
- You have investors who want reports: Sometimes you’ll find yourself working with investors who understandably want regular financial updates on your company. Putting together a financial report can be daunting, especially if you don’t really know how to format it, or even what ought to be included. Never fear, thought—an experienced CPA can handle this task with ease, working alongside you to help you understand everything as you go along.
- Income and expenses aren’t balancing out in your favor: It’s not uncommon for small businesses to see that they are making great sales, but somehow still aren’t seeing enough revenue coming in. A CPA can take a look at your costs and help you cut down on unnecessary payments or expenses, and improve your profit margins across the board.
- You’re looking to buy or sell: If you’re thinking about purchasing more property, expanding your current location, or maybe selling off all or part of your business, a CPA can help you learn about your options and walk you through the process so you aren’t hit with unexpected taxes or surprising filing issues.
These are just a few reasons why you might want to work with a certified accountant in Jamestown, ND rather than trying to navigate the complex landscape of business taxes on your own. Craig S. Hanson, CPA is here to help, so give us a call today to see how we can help your business grow. We look forward to assisting you!