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Author: Brittany Romero

5 Reasons Why Your Small Business Needs to Hire an Accountant

An accountant is an important part of any business, especially because they help to protect the financial integrity of a company. These professionals handle much more than just your tax returns and payroll; their services come in handy at different stages during the growth of your business. While money might be tight, especially in the early days, hiring a CPA Salt Lake City accountant is a worthwhile investment that can save your company money.

Here are some of the reasons why you should consider hiring an account for your business:

  1. Handling and Identifying Tax Savings The main task of an accountant is doing all business calculations and filling out tax returns at the end of the year. Accountants are usually up-to-date with all the relevant tax rules to ensure you do not miss anything. Other than taking the hassle out of your bookkeeping and tax preparation, a good CPA Salt Lake City accountant can also save you money on your business’s tax bill.

Tax laws are complex, and there are special deductions that you may not be aware of that only an accountant can spot. The accountant may even structure your business or transactions differently to ensure you do business in a more tax-efficient manner.

  1. They can help keep costs down A professional accountant is always up to the minute with the financial health of a business. Hence, they are in a better position to notice when money is being spent unnecessarily. As a business owner, you might be too busy looking for ways to expand your brand to see some costly financial drains. For instance, when your attention is focused elsewhere, you might forget about the regular payments that are usually made to suppliers and lenders. You might not have to review these payments and simply accept them as expenditure. An accountant, on the other hand, will not forget about these expenses. They will vigilantly watch them to ensure you are not overpaying for resources.

 

  1. They offer a wealth of small business advice CPA Salt Lake City accountants are experts in the business. Therefore, they can provide you with information on everything from financial acquisitions to day-to-day business operation. A Certified Public Accountant is better placed to take an outsider’s broad view of your business’s finances, helping you make long-standing decisions and assess risk. If the accountant is familiar with your industry, they can even help you work through economic downturns and recessions by giving you advice on how to stay relevant.

 

  1. Allow you to focus on building and growing your business as a small business owner, you might be responsible for all aspects of your company from hiring new recruits, deciding on company policies, attracting new clients, to tracking the growth of your business. You may also be required to formulate strategies on how to best handle workloads, manage work hours, and be a responsible leader for our employees to emulate. Undertaking all these responsibilities can be overwhelming and may leave you feeling overworked.

What’s more, they may distract you from your main responsibility which is growing your business. Hiring a qualified accountant Salt Lake City will help take a significant section of the burden off your back, opening up more hours for you to focus on more important issues. The ability to successfully delegate is one sign of a true leader. Assigning your accounting responsibility to an expert is a great place to start.

  1. Avoid an audit Hiring an expert accountant can help you avoid the dreaded compulsory audit. Unfortunately, most people think of hiring a CPA accountant only after these issues have occurred, forgetting that they can avoid an audit altogether by getting the guidance and counsel of a qualified accountant year-round. There are many reasons a company is audited:
  • Too many mistakes on tax forms
  • Excessive write-offs
  • Being too charitable

The financial health and success of a company is the most important part of any business. Hiring a professional accountant with the right skills and expertise can help guide you through your journey, setting you up for lasting success. A CPA Salt Lake City accountant can be that long-term partner that is invested in your business and aims to keep it financially sound.

The Latest Sign

SignMy neighbor is a displayer of sign shop Salt Lake City from his porch. His latest sign is a white square upon which is written in blue lettering “Yes, I ask you very confidently, ain’t she SUSAN!” This sign is intended to be quite literally a “sign” of support from the fifty something bachelor to a woman named Susan who lives across the street from him and is suffering from some disease, perhaps cancer. I have never met the man who lives in this house nor have I ever me the Susan to whom the sign is intended support.

 

I do not believe my neighbor purchased this sign or any of the previous signs he has displayed from a sign shop. It certainly appears to be hand made. I think perhaps this is part of its intended charm. He put the thought and effort into hand making a sign to help cheer up his neighbor across the street. Certainly this is a laudable action on his part but I do get the feeling from other people in the neighborhood whom I have met that this situation is a little embarrassing and awkward. Because his intentions are good it is hard to tell him not to do it. I suppose the neighborhood has collectively decided that it is not worth it to do anything and to just let it happen.

 

I suppose we can take comfort in the fact that his sign is relatively small. It is not like it is a vehicle wrap or some such. Incidentally, I did look up the lyrics because they were not immediately recognizable to me. It turns out that they are from a song entitled “Ain’t She Sweet.” Upon seeing this I realized that I did recognize the song. I suppose the take home message here is that signs and banners can be used for a variety of reasons. Some are good and some are bad and it is all a matter of perspective.

Third Generation Business

headI have personally known many businesses in the Salt Lake City, Utah region that employ the services of a going concern in the business of manufacturing sign shop Salt Lake City. It is often said that in a family business the first generation is the one to establish the business, the second generation is the one that grows the business and the third generation is the one that oversees the dissolution of the concern. However, I know of one of the businesses making signs and banners in Salt Lake City that happens to be a family business in its third generation that is absolutely not in the process of dissolution. This third generation family business is not in a state of dissolution because it happens to be committed to the proposition that every day is another day to provide exceptional products at affordable prices.

Another reason this third generation family business is not in a state of dissolution is because the professionals who work at this business possess the knowledge as to how to create the many advertising products that will represent their clients in exactly the way that they want to be represented. In other words, they do their job well. This particular business also has a proven and dependable track record which demonstrates their own particular brand of excellence in the areas of service, graphic design, and sign production. Moreover, this business of which I speak creates sign shop Salt Lake City considers itself to be yet another intimate component of the clients it serves because it also believes that it will only achieve success if the client and the client’s business also achieves some measure of success. This business has been designing and creating all kinds of signs, colorful banners, elaborate graphics and stunning vehicle wraps for the residents of Utah for over sixty years.