Small business owners can often be heard saying that hiring an accountant is a waste of money. Accountant is just there just to fill out forms and keep the government happy by having you pay more taxes. However, bookkeeping services are more than that. You will save time and money if you hire the right accountant. 

 How can an accountant help prevent a small business owner’s bankruptcy?

 Taxes

Bookkeeping services should be aware of the latest tax rules and government legalities related to small business. In addition to that, a reliable accountant must be aware of significant tax breaks that may be available for small businesses.

 Saving you Time

Other small business owners may think that they can’t afford an accountant. But think about how long it would take you or one of your staff to do certain tax related tasks. Is it really a good use of your time or would you rather focus on other revenue generating tasks?

 Saving you Money

Let’s assume that time is not an issue for you. Perhaps you bought a computer program that will do all the accounting for you. Just completing the tax forms is one thing. However, completing them in a way that only an accountant can do will save you the most money. Accountants will help you take advantage of all legal ways to minimize your tax bill.

 Business Advice

A reliable bookkeeping service has a great amount of experience in the small business industry. They can provide suggestions based on their experience to help keep your business afloat. Furthermore, they can also calculate and predict financial reports based on your business moves and decisions. Finding a reliable bookkeeping service is essential to your success as a small business owner.

 The question to ask yourself is not, can you afford to hire an accountant. The real question is, can you afford not to hire an accountant? To learn more about how one of our friendly and reliable accountants can help your business, please contact us now for free consultation.

 

Resources:

• Chih-Fong Tsa. Feature selection in bankruptcy prediction
• Narayan Vaish. Book-keeping and Accounts
• M.Jambunthan. Book-keeping and Principles of Commerce
• Newton, Grant. Bankruptcy and Insolvency Accounting, Practice and Procedure. 2009
• Turner, Leslie. Accounting Information Systems: Controls and Processes. 2008