4 Reasons Business Owners Need an Accountant

When you have an office to build, don’t waste your time trying to learn accounting.

As a business owner, you need an accountant. But if you are just getting started, you may not want to have to deal with the costs that come with hiring someone to do something that you feel you can do on your own. So what do you do? Do you suck it up and spend a little bit of money, or do you suck it up and spend extra time learning how to do it all yourself? If you ask around to all of the successful entrepreneurs out there, you will find they all say the same thing: hire an accountant. Your accountant in Billings, MT outlines 4 great reasons to use an accountant rather than do it yourself.

 

 

 

An Accountant Can Help You Determine Business Structure

Before you even begin your journey as an entrepreneur, you need to determine what the best business structure is for you. We talked about this a few months ago, so rather than repeat everything just go back and read about how to determine the proper business structure.

What it boils down to is this: what type of business are you starting, how big do you expect the business to grow in the next few years, how many employees will you end up having, and what your tax goals are. If you can answer those questions, your accountant can help you set up the right business for you.

An Accountant will Save You a LOT of Time

Starting a business takes a lot of work. Most of that work will be done by you in order to make sure that everything is moving along nicely and that everything is organized properly. Throw some employees into the mix and now you have to manage the business as well as manage your employees. That includes setting schedules, performance evaluations, dealing with unhappy employees, and payroll.

But if you have an accountant, you can alleviate a lot of that burden. Your accountant in Billings, Montana can handle the payroll, bookkeeping, and manage all of your finances for you. There’s no need to go with Quickbooks or a similar program when you have a real live person that can do it all. This frees you up to do what you do best: run a business. Read about how using a payroll service will actually save you money.

An Accountant will Prepare Your Taxes

Naturally when people think of an accountant, they think of someone to prepare their taxes. Your accountant can do that, but when you become a business owner, it is more important than you think.

With a business in place, your taxes now become harder than ever to get in place. You have to make sure that you are deducting the right amounts, putting incomes in the right places, filing on time (business taxes are due March 15), and making sure everything is done correctly. Why learn accounting when you have a business to run?

Your Accountant can Maintain Records

Most people that become business owners are fairly well organized. If they aren’t, then they end up going out of business. However, sometimes things get a little sloppy because there are just so many things to do.

You have two options here. You can hire a personal organizer to come in and develop a plan for you. After that you do all the work and keep your own records. Or you can hire an accountant to take over. You pass along the proper information (hours worked, pay structures, cash in, cash out, etc), and then your accountant in Billings, Montana can handle all of that record keeping for you.

Practical Taxes

As a full service accounting firm in Billings, MT, we can handle all of your accounting needs. The bottom line is that we can save you a lot of time by taking these things off your plate. In the end, you get to focus on what you know best (and what you love), and you don’t have to worry about the things you don’t know that only slow you down. Give us a call at 406-894-2050 to learn more about how we can help your business succeed.