It’s tax season, and for many small business owners, that means it’s time to start worrying about filing, paperwork, and… taxes. But if you’ve got a great accountant, can they help you avoid all of the stress and hassle of taxes? The short answer is no—but they can certainly help make the process easier! Let’s take a look at how exactly your accountant can help you this tax season.
First off, let’s be clear: an accountant isn’t some kind of magical money-saving genie who can wave away all your tax liabilities in an instant. However, good accountants do know how to get the most out of your taxes while still staying within the law. They may be able to suggest strategies or deductions that will help lower your overall tax burden.
In addition to offering advice on how to pay less in taxes, accountants are also invaluable when it comes to sorting through all of the paperwork associated with filing taxes. They have extensive training in bookkeeping and accounting practices so they can quickly and accurately sort through financial documents and figure out what needs to be done. Plus, if something does happen to go wrong during the filing process (or worse yet – after), having a professional on your side is hugely beneficial for dealing with any issues that might come up.
Finally, accountants aren’t just helpful during tax season – they can provide year-round advice that will benefit your business long after April 15th has come and gone. From deciding which software is best for tracking expenses to helping you develop a budget, there are plenty of ways an accountant can assist with managing both short-term and long-term financial goals.
So while hiring an accountant won’t miraculously make all of your tax worries go away this season, their expertise is invaluable when it comes to saving money and making sure everything stays above board when you file. And don’t forget – they’re also great resources throughout the year as well! So don’t hesitate to reach out if you need help – even if it isn’t quite tax time yet!
Donna Harris, MBA, also holds a BSci in Accounting and is the owner of Bookkeeping Made Simple.
Donna Harris, BSci Accounting, MBA, founded Bookkeeping Made Simple with the understanding that small businesses is the heart of the American economy. After offering to do books for a friend who said he didn't have enough work to keep someone in the office 20 hours a week, she recognized the need for an efficient, online system. She has 20 years of bookkeeping and accounting experience and is excited to help small business owners achieve their goals. She enjoys spending time with her family and traveling whenever possible. She also loves reading, hiking, camping, cooking, yoga, and fitness. A huge believer in lifelong education, she is currently working on her master's in Accounting.