People can often be heard to say that they can’t afford an accountant or that they think an accountant is just there to fill out forms to keep the tax man happy. An accountant is much more than that, and finding the right accountant will not only save you time and money but she will also help you to grow your business.
Saving you valuable time
Your time is best spent doing what you’re good at. If you have a very simple business then you can probably complete most of the forms yourself. But will you be completing them correctly? Will you be getting them in on time?
If you miss a deadline for important documents, then you can face quite heavy penalties and interest charges.
If you incorrectly complete a document then the best case scenario is that it’ll be sent back to you to do again.
An accountant will complete the appropriate forms for you and return them to the appropriate authority in order and on time. Leaving you free to focus on earning more money.
Saving you money
So let’s assume time isn’t an issue and you’re 100% confident you know how to complete all of those forms correctly. Perhaps you even have a computer program to do it for you. How else can you benefit from using the services of an accountant?
Completing the forms correctly is one thing. Doing them in the way that’s going to save you the most money is another. A good accountant will make sure you take advantage of every legal way to minimize your tax bill.
A good accountant will make sure that you take full advantage of the ever-changing tax laws to make sure you pay as little tax as possible both personally and for your business.
Growing Your Business
As well as doing the paperwork and minimizing your tax bill – your accountant can also be a great source of advice to help you grow your business.
An accountant can act as a sounding board. She knows your business almost as well as you do and probably knows the financial side of it even better. Objective input from someone that knows your business but doesn’t have the emotional attachment to it that you do is priceless.
An accountant’s advice and input can be as valuable, if not more so, than the number crunching and form filling.
It’s not a matter of whether you can afford an accountant – can you really afford not to have an accountant?
