Accountants are invaluable to small business owners. Did you know that if you didn’t hire an accountant in Atlanta, GA? Then, your company would most likely fail within 18 months. Moreover, accountants aren’t just for huge corporations anymore. Even the smallest of businesses need the help of an accountant.
In fact, according to a recent study by Intuit, nearly 95% of small businesses in the United States employ an accountant to help them out. So, why is it so important to hire an accountant? Here are four reasons why it is time for you to hire an accountant.
You Don’t Have Time
If you are a small business owner, then you know that most of the time, there are just not enough hours in the day. The more successful your business is and the larger it grows, the more time-consuming it becomes. For example, keeping up with payroll can be an extremely time-consuming endeavor. You have to make sure that you have all of your employees’ payroll information and that you meet all of their state and federal tax reporting requirements.
You Don’t Enjoy Doing it
Like I said before, payroll is very time-consuming. Unless your company is extremely small with only a few employees, it can be tedious and stressful. Even worse, if you happen to make a mistake regarding payroll, then you could end up owing money instead of getting the tax breaks that you were expecting.
Your Business Could Fail
As you can see, it is absolutely imperative that you hire an accountant. If you don’t, then it is very possible that your business will close down because of financial issues. The world of accounting can be complicated, and even the smallest of mistakes or oversights can cost you thousands.
It’s Complicated Work
While a business owner can certainly do the task of payroll, doing basic calculations and keeping track of financial reports can be very difficult. Because of this, it is best to stick with the help of an accountant who knows what they are doing so that you don’t get in over your head.
It’s a Major Expense
While it is very important to hire an accountant, it can be quite costly to do so. In fact, the costs will vary depending on how much help you need and how long you need the services of an accountant. However, regardless of how much it costs to hire a professional accountant, it will certainly be worth the expense if you need help with your books or with payroll.