As a small business owner, you may think that doing your own taxes and not hiring a small business CPA is a great way to save money. This is true. It will save your preparation fees. However, by doing your own taxes you could be costing your business a lot more than you realize. Here are a few reasons why you should consider filing with a small business CPA.
Maximizing your Deductions
Maximizing your tax deductions is one of the greatest benefits to hiring a small business CPA. There may be many deductions and credits that your business qualifies for that you aren’t aware of. Utilizing the knowledge of a professional will help your business reduce their tax burden.
Our CPAa can also look at your returns from years past, and if you have missed something you can file an amendment, and get a refund from the IRS for the difference in your taxes. This may definitely be worth it for your if you had been doing your small business taxes on your own in years past.
Saves you Time
Being a small business owner, your time is precious. Instead of spending hours trying to figure out which deductions and credits you qualify for, you could be spending that valuable time growing your business. A CPA, who is already knowledgeable about the subject, can take that off of your hands allowing you to do exactly that!
That time could be spent doing what you do best, running your business and bringing in profit. Part of owning a business is learning how and when to delegate a task to someone more knowledgeable. This is one of the times you should do that.
Tax Law Knowledge & Audit Help
Tax laws are ever changing. Having a small business CPA on your side that is always up to date on how the laws affect your small business is invaluable to your small business.
In the case that you are audited or run into a problem with the IRS, a CPA can offer IRS representation. Problems with the IRS can seem overwhelming, however a qualified small business CPA understands the language of the IRS and will work to resolve your tax problem for you. If you choose to do your taxes on your own, this is something that you also have to handle on your own.
Year Round Tax Help
When you hire a small business CPA, they aren’t just available for you just during tax season. CPAs can help your small business in so many ways, all year round!
They are financial experts and can help your business with anything from accounting to bookkeeping. While looking through your taxes this year, they can better prepare you for next year’s taxes and help you plan ahead.
Every business should utilize a CPA to help their business grow and save time. Hiring a CPA with years of experience, like David Kesel, can help your business do exactly that.
David Kesel has over 20 years of experience helping small businesses in the McKinney area with their taxes and financial planning. Give us a call today at (972) 362-9127 and we can help your business get off on the right foot this year during tax season.