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  • Writer's pictureRafael Burgos

The Benefits of A Small Business Working With A CPA

Being a small business owner is no small feat. In fact, when you are running a small business, you may wear many hats. This can include managing staff, planning, strategy, daily operations, customer service, and more. When you are handling all these different aspects of your business, it is wise to outsource to certain tasks, especially any essential math-related tasks. This is where an Orlando Certified Public Accountant (CPA) can help.


What Does A Certified Public Accountant (CPA) Do?


A Certified Public Accountant (CPA) is an accountant who has met the experience and education requirements of the state they reside in and have passed that state’s Uniform CPA Exam. It should be noted that while all CPAs are accountants, not all accountants are CPAs. With their years of experience, skilled CPAs can help with the following:


· Tax strategy & planning: looking for ways to save on your present and future taxes

· Tax audits and assurance: finding any issues on your tax returns prior to filing with the IRS

· Risk management: consulting while budgeting and preparing your financial statements

· Forensic accounting: looking into your books to find and prevent any fraud or embezzlement situations.

· Payroll: ensuring payment of employees and any other payroll withholdings

· Bookkeeping: handling invoices and accounts receivable, making sure all bills are paid on time


Can A CPA Help With Starting A Business?


If you are thinking about starting a business, a CPA can be a viable partner in creating a foundation for success. They can assist with:


· Picking the right business structure for you (i.e. Limited Liability Corporation, Sole Proprietorship, etc.)

· Providing financial analytics during business planning

· Consulting on which type of accounting software you should use

· Setting up your business bank account

· Ensuring government compliance for your accounting procedures

· Determining a plan for how to track your expenses


Want To Grow Your Business? A CPA Can Help Too


When you are at a point that you want to grow your business, a CPA can be an integral aspect by providing guidance and advice through the process. This can include:


· Looking for opportunities for growth and give insight about cash flow, pricing, and business financials

· Provide financial forecasts to help with business decisions

· Audit prevention and assistance

· Discuss and create a business budget

· Assist through the process of selling your business


How To Find The Right CPA For Your Small Business In Florida?


If you are searching for a CPA in Florida, it is important to look for someone that will be the perfect match for your business’s specific circumstances. Before you begin your search, think about what you want them to help with. Do you want them to help with payroll and bookkeeping, or financial planning, or even be your full-time consultant? When you know that answer, it is time to begin looking for a financial professional.


Conduct Research Online


While Google, Yelp, and other online resources are great places to search for a “CPA near me” and find local listings, it is important to make sure that the person you choose is an actual Certified Public Accountant. You need to verify that they have passed the state’s test and are licensed. Also, make sure that they have a Preparer Tax Identification Number (PTIN).


Consult With Your Professional Network


Utilize the business professionals in your network and ask for referrals or recommendations. Fellow small business owners who have floundering partnerships with their accounting professionals can help you find one that is perfect for you.


Ask For A Consultation


The best way to determine if a CPA is the right fit is to meet them in person. It is always best to bring someone with you who you respect their judgment and to ask questions. Some of the best questions to ask are:


· How long have you been a licensed Certified Public Accountant?

· What is your availability?

· Do you have experience helping businesses like mine?

· If I am audited, can you represent me in from of the Internal Revenue Service (IRS)?

· What are your rates?


How Burgos CPA Services, LLC Can Be A Partner For Your Small Business


If you are running a small business in the state of Florida, whether you are in the beginning phases, need tax help, or want to explore avenues for growth, Burgos CPA Services, LLC can help. With over a decade of experience, we strive to assist small businesses and are here to be the partner that you need. We offer tax planning and strategy services, as well as accounting and bookkeeping, tax preparation, and more. We are also Quickbooks Certified ProAdvisors and can provide the insight needed to help your business succeed.


To learn how we can help your small business, feel free to fill out the contact form on our website or set up a FREE consultation here.

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