All it takes is one small mistake on your tax forms and you
could have a problem on your hands, as well as a really big fine. If small business taxes are not your area of
expertise, hiring a certified public accountant helps remove a lot of
unnecessary risk.
DGK Group provides
professional tax preparation services to many Philadelphia small businesses. We
see first hand all of the benefits our expertise is able to afford. Here are 8
reasons every small business should rely on professional tax preparation
services instead of trying to handle it on their own.
11. Time Is Money
How long will it take you and your team to complete tax
preparation? These hours add up quickly, especially if you are learning as you
go. As a result, you will likely end up spending way more money in terms of
time than if you simply hire a tax preparation service.
22. Avoid Costly Mistakes
Businesses are regularly audited, especially if something
doesn’t seem right in regards to taxes owed or paid. You may think you’ve
dotted all of your I’s and crossed
off all of your T’s, but it’s super
easy to make expensive mistakes. CPAs are experts at this stuff, and will help
you avoid making common costly mistakes.
33. Be In The Know About Tax Codes That Apply To Your
Business
Depending on the type of business you own and the industry
you are in, there are different tax codes you must adhere. A professional CPA
will know exactly which codes and laws apply to your business.
44. Plan Ahead For A Prosperous Future
An accountant can help your business plan ahead for the
future in regards to taxes, investments and overall growth. A CPA can also
consult with your business on how to simplify future tax preparations.
55. Don’t Worry About Changes In Tax laws
Tax laws are subject to change at any time, but that doesn’t
mean the average business owner is alerted to any of these changes. Instead, if
you take care of your taxes it’s up to you to seek out this information. A
professional accountant, on the other hand, is keeping up with all of these changes
for you. As a result, you don’t have to worry about complicated and constantly
changing tax codes and laws.
66. Know For Sure If Your Business Financials Are On
Track
Financial integrity is huge for businesses of all sizes.
Knowing that you are on the right track to making money is fundamental to
long-term success. Inadequate financial records or even simple math mistakes
could cause the actual success of your company to be inflated or
deflated—neither of which is good for long term output.
Hiring a team of financial experts to take care of your tax
preparation helps you identify if your business made money, lost money or broke
even without any inkling of doubt.
77. Help Pinpoint & Solve Issues
If you are struggling to make ends meet, an accounting firm
will offer the expertise necessary to pinpoint financial mishaps holding you
up. Going over your record books and auditing your internal operations will
help pinpoint issues with creditors, day-to-day inefficiencies and so forth. Financial
consultation services can help your business get back on track, while
simultaneously preparing your taxes.
88. Enjoy Peace Of Mind
Filling out your own taxes can be stressful even after everything
is said and done. There’s always that looming fear that you made a mistake and
the IRS is going to be asking your for 2 million different things. When you
hire a tax professional you get peace of mind knowing that everything is
properly taken care of. Plus, if anything would arise down the road, you have
someone by your side to help make it right.
Having an accountant there to assist during an audit can completely
change the results.
Finding The Right
Accountant For The Task
Before hiring just anyone to take care of your business tax
preparation, check to make sure they have the proper tax credentials and
experience. Certified Public Accountant
credentials are earned through education, experience, tests, and swearing to a
code of ethics. Be leery of accountants that ask for a percentage of your
returned taxes, or offer services that seem too good to be to true.
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