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When Should You Employ a Business Accountant?
by Forever Agency Creative AgencyNot convinced your business would benefit from hiring a business accountant? Ask yourself the following questions:
Are you willing to learn about the latest tax regulations and how they apply to your business?
Do you have the concentration and attention to detail required to prepare detailed financial documents such as tax returns?
Here are some of the key times in the business lifecycle when using the services of a qualified accountant could add real value to your business :
Before starting your business
An accountant can help explain the benefits and drawbacks of different legal structures and advise which is best for your business. If you work from home, they’ll help you offset a proportion of your living expenses against tax. Accountants can also provide realistic projections and reports, adding credibility to your business plan.
Planning for growth
A big client win might mean you need to grow your business quicker than expected. An accountant can help you handle the transition by handling details such as payroll, employee tax management, property tax and utility payments, leaving you to work on the bigger picture. They can also analyse your cashflow, stock management and pricing, providing useful insight into where your business could grow.
Selling Up
As well as putting your company’s financial records in order, a business accountant can produce information and charts to show to prospective buyers. Your accountant can also liaise with potential buyers’ accountants during the due diligence process and structure your financial affairs so that you receive the best deal. For example, a lump sum might be less tax-efficient than monthly payments over a period of years.
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About Forever Agency 
Creative Agency
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Created on Aug 10th 2018 08:33. Viewed 365 times.
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