Thanksgiving is almost here. You’ve invited family, friends, and in-laws. The food is ready to go and it’s holiday time!
There are many reasons to be thankful: for good health, better employment, a new addition to the family, or just knowing you have made it through another year with challenges. You’re making it! Whether it’s been a great year or terrible year, we can always reflect on our lives and find something in which to be thankful.
During the holiday season, we are all so busy wrapped up in what we’ve got going on that we overlook many of the more subtle reasons to be thankful. Let’s take a moment and be thankful for the accountant or financial advisor for your business. Here are seven reasons be thankful:
- Help in setting up your business: Financial advisors are experts in small business start-ups. They have the knowledge and experience in applying for LLCs (or other legal designations), creating a business plan and giving budgeting advice.
- Small business regulation: No business owner wants to deal with federal, state and local regulations. They are time killers and extremely frustrating. Financial advisors can update you on current regulations, labor laws and OSHA requirements. Small business accountants can relieve you of the burdens of regulatory research. You will get the list and advice on any and all regulations affecting your small business.
- Auditing your business: Speaking of burdens, keeping track of your income and expenses can also be agonizing. You’d rather read “War and Peace” than personally audit your business books. It’s a common feeling and understandable. Accountants bring an unbiased eye to your books. They can audit them and give you a concise report. Plus they can help you head off any accounting dangers at the pass by correcting issues and getting you on the right track.
- Tax savings: The IRS is constantly changing tax laws. It can be confounding, even for accountants! However, it’s our job to be on top of all changes and to apply those changes to your tax returns. Financial advisors not only know the current tax laws, but they help you legally reduce your tax bill. They may be able to save you thousands of dollars. But even if it’s a few dollars, at least you aren’t paying it to the government! That is a win no matter how much you save.
- Correct tax payments: Taxes. They are a pain but they have to be paid. You want to make sure you pay the right amount on time. Whether you’re self-employed or unsure if you’ve withheld enough from your paycheck, we’ve got you covered. At A.K. Burton PC, our accountants review all your pertinent information and create estimated tax payments. These estimates tell you how much to pay and when.
- Offload the work: Any smart business owner who has employees or subcontractors, has to offload work in order to make money and accomplish business goals. You can’t do it all yourself. Hiring accountant who specializes on your business’ financial side, gives you time to focus on all the other tasks you can never seem to get to.
- Buying or selling your business: You may be investigating the purchase or merger of another business. It may take your business to the next level. There are many financial aspects to consider. Your financial advisor can take you through each step and work with your attorney in buying or merging the business.
Running a successful small business is both a joy and a pain. Our financial advisors at A.K. Burton, PC can eliminate some of that pain by meeting all of your small business needs. And for that, you can be thankful. This holiday season at A.K. Burton, PC, we are thankful for our clients and serving you. Happy Thanksgiving!
A.K. Burton, PC, which serves the Washington,D.C. and Bethesda, Md area, has experienced and licensed financial advisors who can help you make sense of your small business bookkeeping. Contact us at (301) 365-1974 for more information or email firstname.lastname@example.org.