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1. How Accounting Can Help Your Small BusinessSucceed At one point or another, you've probably worked with a certified public accountant, if you are a business owner. But did you know accountants can do more than just your taxes andbookkeeping? Since accounting is all about interpreting information about an individual or company's finances and operations, accountants can be a key part of your financial advising team, helping you navigate all the important decisions that impact yourfinances. Wondering what an accountant can do for you and your business? Here are a few things that might surpriseyou. 1. Assist you in the loanprocess Starting a business often involves taking out a loan. A small business accountant Scotsdallecan help you present the purpose of the loan and consider various options forfinancing. Small business accountant Scotsdallecan help business owners with the next phase of winning a loan, once the client needs have beenqualified, From quantifying the current financial condition and credit need to identifying repayment sources, accountants help their clients gather all the information and data necessary for a loan. With this data, accountants can also work with clients to craft compelling loan applications that can improve the chances a bank will approve therequest. 2. Review your documents andcontracts If you are entering into an agreement with a possible tax or accounting implications, it's probably a good idea to have your accountant review thedocument.

2. "A Small Business Accountant can analyze the agreement and let you know about the tax and accounting consequences that will affect an individual's or an organization's financial prospects," says Dewey Martin, Professor Emeritus from Husson University's School of Accounting. The perspectives of small business accountant help their client avoid negative consequences associated with cash management, financial planning, financial statements, andinsurance. 3. Help with estate and trustplanning Since your taxes can impact your estate, you may want to work with an accountant to make sure more of your hard-earned assets go to your heirs or charity rather than thegovernment. Strategies can be provided by small business accountant, which allows their clients to pass assets to children or grandchildren before they pass away, or provide strategies that will allow non-profit organizations to benefit from a client's generosity while minimizing the taxramifications. 4. Guide business successionplanning Your small business accountant Scottsdalecan also help you shape the future of your business, on top of consulting everyday financial decisions. Martin says. This includes making plans for succession if you're looking to pass your business down to the next generation of family members or toemployees. 5. Provide virtual CFOservices If your business isn't big enough to hire a CFO but you'd benefit from tailored financial advice, you can outsource. You can outsource financial oversight and expertise to accountants or financial professionals without paying for their health insurance and holiday pay, as business operations become more and more virtual. With online accounting software, video conferencing, and electronic document sharing, Sprout says your accountant can help you make decisions regarding taxes, cash flow, strategy, and a multitude of other things beyond simply paying them to file a tax return everyspring.

3. 6. Help you figure out how togrow If you own a business, you know your company's success hinges on hiring the right people at the right time. Will Lopez, head of the accountant community at Gusto, says accountants are perfectly positioned to help clients figure out how to grow their business with smarthiring. Small business accountant can help small business owners manage their greatest asset — their workforce, by providing them with people-focused financial metrics each month, such as operating profit per employee and average expense peremployee.