When you run your own business, you have a great deal of accounting, taxes and payroll paperwork to deal with. Many people aren’t equipped to deal with that side of the business, whether it’s because they lack the information or training to perform these duties effectively, or because they just can’t handle the extra workload. That’s why having a CPA for your business in Jamestown, ND can free up your time as well as ensure that your business affairs are being handled as professionally and efficiently as possible.
What does a CPA do in Jamestown, ND?
CPAs, or certified public accountants, are professional accountants who have passed their state’s CPA exam. Each state has a different test and requirements for eligibility. They can handle taxes, financial planning, payroll and more. Here’s a closer look at their capabilities:
- Help start your business: The best time to hire a CPA is when you’re first starting your small business—it’s always smart to ensure your new business is on solid footing from the outset. They can help you decide which legal structure to choose, how to ensure compliance with state and federal regulations and which health insurance you should choose for yourself and your employees.
- Taxes: CPAs are tax experts, which makes them particularly equipped to deal with small business taxes. While you can do your business taxes yourself, especially given the accounting and tax software available on the market today, a CPA will be able to identify deductions and exceptions that may not be immediately obvious from a software program. If you have short term debt, taxes in different states or expenses to deduct, it can be even more complicated. Hiring a CPA is the best way to make sure you’re filing properly.
- Financial advice and check-ins: CPAs can also act as financial advisors, which is especially important to small businesses. Owners can be so distracted by day-to-day business that it’s hard to see the bigger picture. They’ll also be able to help you evaluate your budget, sales, profits, losses and more to determine where you need to make changes and what kind of shape your business is in.
- Small business loan applications: When you need to apply for small business loans, your CPA can tell you whether it’s a smart idea based on the current business profits, projected future profits, fees and more.
- Formal financial statements: Finally, when you need formal financial documents prepared, such as reviews, audits, financial statements and compilations, your CPA will provide those for you.
If accuracy and efficiency are important to you and your small business, hiring a CPA will pay off exponentially.
Interested in having a CPA for your business in Jamestown, ND?
Taxes, accounting and payroll duties can be confusing. When you need expert financial assistance from a certified public accountant, turn to the team at Craig S. Hanson, CPA. Our expertise runs the gamut of small business services, backed by decades of experience in accounting, taxes and payroll. Call us today to learn more about our services and schedule an appointment.