Why Hiring an Accountant Could Save Your Small Business

Learn why you should hire an accountant for your small business and which type of accountant is best for your business needs.

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What Type of Accountant Should I Hire?

In 2013, if you have employees and provide health insurance benefits for them, you most likely are affected by the new Affordable Care Act (affectionately called “Obamacare”). There are several tax issues associated with this act that you may not understand or be familiar with. This is a very good reason to hire an accountant who is an expert in tax law and knows the tax implications of this act.

Also, there are certain payroll laws that employers must comply with. Some employers have unknowingly committed payroll fraud because they were unaware or educated about payroll laws. This is another very good reason to hire an accountant.

If you have no idea about how to budget your cash inflows and outflows for your business, then you need to hire an accountant. If you get frustrated with trying to figure out how your business’ finances are computed, maintained, or distributed, then you need to hire an accountant. If you have no idea when to expense or capitalize a business asset, then you need to hire an accountant. If you want to make sure your business’ bottom line is intact, you need to hire an accountant.

Accountability is an obligation or willingness to accept responsibility; the state of being accountable (answerable or explainable). Accountants help you to be accountable for your business. After all, it is your business, and you want it to be successful, right? You need to make sure you have at least one or multiple Accountants that you can call on for their specific expertise.

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Accountants have studied tremendously in their craft, and they maintain continuing education (CE) hours each year. Therefore, they are aware of new changes and things that affect their clients. There are accountants who only work with nonprofit organizations because that is their area of expertise. Some accountants specialize in working with certain industries.

For instance, some accountants may specialize in the needs of auto manufacturers, or the oil and gas industry, or restaurants. You just need to find the right accountant whose niche is in the areas where you need help.

JeFreda Brown is a Business Coach and Speaker. She owns Brown Accounting Solutions, LLC, which provides accounting and business consulting services for small and medium sized businesses. Brown has spoken in several workshops, seminars, and conferences about important financial compliance related issues for businesses. Her passion is helping other businesses excel by providing them with the knowledge that she has. For more information on Brown and her services, visit www.brownaccountingsolutions. You can also connect with her on Twitter (@BrownAccounting), LinkedIn (JeFreda Brown, MBA), and Facebook (Brown Accounting Solutions, LLC).

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