For the owners of small businesses all over the world, taxes and accounting form part of their financial obligations, but for those trying to manage things singlehandedly, these can become overwhelming. However, while they are an obligation, they also present a range of opportunities for saving money and making a company more profitable, so it’s worth getting them right.
Fortunately, accounting services in Surrey BC exist to help business owners tackle all of their financial obligations with skill and precision; leaving them free to concentrate their efforts on growing their operations.
Do you need help from an accountant or a CPA?
A certified public accountant (CPA) can assist all manner of business owners with their finances, just as a regular accountant can, including government filings and assistance not just with taxes at that dreaded time of the year – tax season – but all year round. In addition to this, they can also provide advice based on their own experiences, and the in-depth knowledge they possess.
The main difference between an accountant and a CPA, is that the latter is able to offer a wider range of services that includes business planning advice, and financial projections, and are licensed by the state that they carry out their services in.
To determine whether a CPA could make your business more successful, here are some compelling ways in which they can help:
- Managing your finances
With professional advice and guidance on how to set your business up and structure it in the most advantageous way, as well as plan for its future, a CPA can help you minimize risks and be profitable.
- Planning your taxes
Taxes can be notoriously complex, especially for businesses in their infancy, and it’s not uncommon for companies to make errors that see them paying more in taxes than necessary. With a CPA to handle your taxes, not only will you never pay a dime more than you need to, but you might even save some money in deductions.
- Preparing comprehensive financial statements
With their expertise, CPAs can assess what impact certain deductions and expenses will have on a business, such as amortization and depreciation on income statements. Additionally, they can also calculate the amount of money a business could save from reducing the taxes its owed, and help with filing for a tax extension where necessary. Whatever a company’s tax obligations may be, a CPA can ensure that they are met and complied with at all times.
- Representing you before the CRA
Should your business be selected for an audit, a CPA can help you expertly defend it.
There really is no better time to use the services of a local CPA, than when your business is in its infancy. And, when coupled with experienced bookkeeping in Surrey, you could give your new business venture the very best chance ofhitting the ground running. Then, with their continued guidance, you can enjoy all the perks of owning a successful business, with far less of the headache, fuss and effort. Now wouldn’t that be something?