When people establish a small business, they are often surprised by just how much paperwork and documentation is involved. Meticulously tracking, filing and reporting all of your expenses, income sources, payroll information and other financial details can be a major drain of your time and resources. While you might be discouraged by the cost associated with hiring a professional business accountant in Jamestown, ND, the reality is that this investment can reap a number of benefits that help improve the profitability of your business in the long run:
- Business startup assistance: Starting a business presents a number of major challenges, especially if you aren’t familiar with the process. An accountant can help you determine what kind of business structure is right for your situation and offer advice about various accounting and banking options. This kind of support can help get your business started on the right track and set you up for future success.
- Regulation compliance: A professional business accountant in Jamestown, ND understands financial and tax requirements inside and out, and they are trained to help you maintain compliance. By having a professional assist you with your tax and financial needs, you can avoid fines or other difficulties as a result of under-compliance.
- Payroll support: When it comes to paying your employees, precision and accuracy is imperative to keep you compliant with local, state and federal laws and regulations (not to mention keep your employees happy). An accountant can oversee the payroll process and help ensure that your employees and independent contractors are classified correctly in accordance with IRS guidelines.
- Tax filing: An accountant will help you understand the tax filing process and provide you with all of the information you need to file properly. They will assist you with compiling and submitting taxes and with financial reporting to the IRS to help you avoid an audit.
- Audit representation: In the event that your business is audited by the IRS, an accountant can offer you support and representation to ease the process along as smoothly and promptly as possible. They will help you submit all of the information and paperwork you need for the auditing process and offer advice to help you get through an audit with minimal interruption to your daily business operations.
- Growth planning: When you’re ready to scale up your business, your business accountant can help you create financial forecasts, analyze financial data and determine whether the growth you are considering is feasible. As your business grows, your accountant can provide you with expanded services and support to meet your changing needs.
If you’re interested in hiring a business accountant in Jamestown, ND, reach out to Craig S. Hanson, CPA. We understand how overwhelming it can be to tackle all of the different financial and tax requirements associated with owning and operating a business, and that’s why our team is here to help. We’ve been serving our clients for over 30 years, and we continue to develop and outstanding track record within the community for the quality of our service. Contact us today to learn more about all of our services!