3 Reasons To Hire A CPA For Your Small Business

Your small business is your baby. You want to do everything you can to protect it, nurture it, and get it to grow. You may think that means you have to do everything for it, including all the financial work, but sometimes it's better to hire an expert to do the job. For example, when it comes to your taxes and other financial matters, you must hire a CPA to do the work for you. A CPA is not the same as an accountant. They have gone further in their education and done additional work to get the CPA license. While you may consider using an accountant, you should use a CPA for several reasons.

Tax Audits

Taxes are a fact of life. You must complete them and ensure they are correct and submitted to the government. Audits are just one of the things that can happen to any person or business. One reason to hire a certified public accountant is that they can go with you to the IRS and defend you in the audit process. It can give you a lot of peace of mind to have someone who knows the tax laws very well there to help with your defense. 

Interstate Taxes

Your business may have customers based in other states or countries, and you may have remote employees who live in a different state from where you are based. Those things can make your business taxes complicated. It could be really easy for you to make a mistake that could hurt you, your employees, or your customer. A CPA will be aware of how all the tax information can be set up so that it is correct for everyone. 

Business Structure

You have several options when it comes to the structure of your business. For example, you could choose a sole proprietorship, an LLC, or a partnership. A CPA can walk you through all your choices, tell you the pros and cons of each, and then help you set up your business to meet the requirements of your chosen business structure. 

If you have a small business or are about to start one, you will pour your blood, sweat, and tears into it. You may do a lot of the work yourself, but there is one place where you should hire a professional. That is when it comes to your financials and taxes.

Reach out to a CPA to learn more.