When Small Businesses Should Hire An Accountant

1. When Small Businesses Should Hire An Accountant Accountants can help you at different stages during the growth of your business. They can deal with much more than just your payroll & tax returns. So, when should you think about hiring a small business accountant in Phoenix?

2. When you need help in creating a realistic business plan: When you involve an accountant while you are writing your business plan, they’ll use accounting software to add financial projections & other reports to it. This will assist you produce a business plan that is professional, realistic and more likely to thrive. Hiring a Phoenix small business accountant at the early stage will mean you get the gain of their financial advice and knowledge right from the beginning. That could save you money and time compared with appointing one later. When you need advice regarding your company’s legal structure: Not all businesses have the same legal structure – there’re different kinds that are determined by several factors. Some might be called limited companies, limited liability partnerships or corporations, other could be lone traders or proprietors. These differ from one country to another. An accountant can explain the legal business structures available & help you choose the one that best suits you.

3. When you need help with finances: Small business accounting can become complex quickly if you do it by yourself. If you feel that you are losing control of who owes you money & how much, an accountant can help you get back on track. When your company is growing: Companies don’t always grow at a steady rate. A new client or a big assignment can mean you need to grow your business more quickly than anticipated. An accountant can help you deal with growth transitions, such as hiring employees or taking on more office space. They will look after the detail (payroll, employee tax management, property tax, utility payments and so on), leaving you free to look at the bigger picture of the way your business is growing.

4. Before you buy a business: Some people start their new business from scratch, others like to buy one that is already up & running. You should always take advice an accountant before purchasing an existing business. They’ll be able to look into the company’s accounts in detail & find out if anything looks suspicious. Hiring a professional small business accountant in Phoenix is easy with Foster Financial. Get in touch with us now to have a blueprint for a successful business model.