www.ewhsba.com
As a new small business owner (or soon to be), you may be asking yourself, ?What should I be receiving from my accountant?? ?Do I have a working relationship with my accountant, or should I reevaluate my options?? ?Your accountant is one of the most important business relationships you have on your team of business advisors. Having a Professional Wisconsin CPA or accountant can make the difference between having the guidance and support that will lead to lasting success or ultimately lead to the demise of your business because you simply did not know what you did not know.
Think about your company?s bookkeeping like a blueprint for a home. The foundation is the small business accounting system: phone calls are returned timely, you receive your information when you are supposed to, tax payments are made on time and filed correctly and you established a system to ensure documents and communication can be reported to your accountant. The structural support is the relationship with your accountant: business guidance, tax planning and consulting and continued support your finances are being reviewed. The roof or your shoulders is the covered protection of knowing you have a professional Wisconsin CPA that you trust. They?re reviewing your finances and supporting you and your small business accounting system.
Your accounting services can be summed up in 3 easy steps?
1.????? An Accurate and Timely Financial Statement
Without this nothing matters. You need to make sure your statements are correct so you have reliable information to make intelligent business decisions and timely reports so you can be proactive and not reactive.
?2.????? Basic Business Guidance
Once you have an accurate and timely financial statement, your accountant can give you basic business guidance: monitoring your sales, expenses, cash flow, and gross profit margin. In addition an accountant is helpful with assisting you with bank financing and figuring out the best way for you to take money out of the business while minimizing your taxes.
Keep it simple ? most business owners mess up on the basics. This is not about having complicated strategies, though those can be helpful at times, because that?s not what most business owners need. Be very careful of being promised ?the world? or they can ?save you thousands of dollars on taxes? without you understanding what they mean. If it sounds too good to be true it probably is. A strong foundation focusing on basic guidance will be imperative to lasting success of your small business.
3.????? Pro-Active Tax Planning
Tax planning is vital; no one likes surprises at the end of the year. Depending on your business, tax planning may start as early as September, or as late as December.? Be proactive and make decisions while you still have time. Tax planning after the year is over is most likely too late to be effective.
Keep in mind you cannot have pro-active tax planning and basic guidance without an accurate and timely financial statement. One of the major challenges small businesses face is lack of accounting systems and poor processes that leads to inconsistent results.
With these three easy steps and a system in place to support you and your business, you will have created a foundation built to last.
To find out more on how to implement these 3 easy steps supported by a reliable and consistent accounting system customized for your small business, visit www.ewhsba.com or call 262-796-1040.
a wrinkle in time benjamin netanyahu storm shelters nick lachey chevy volt christina hendricks lifelock
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.