Good Business Accounting Will Help You Focus on What’s Important…Your Business
Professional business accounting services can save you money and time, but that is not all. A good accountant can also help you make more money, grow your business and avoid bad business decisions. Here is how:
Good business accounting services help save on taxes
If you are in any way similar to the typical business owner, you may be paying more tax than you should. A good accountant will make sure that you are reporting all the right business expenses without missing any opportunity to lower your tax bill. A good accountant will also find ways to structure your return, in compliance with the regulations, in a way that will minimize your taxes. The time invested in finding a good accountant can save you thousands in taxes. Note that tax laws are changing all the time and what worked for you last year may not be effective or even allowed this year. A good accountant will be up to date with the latest changes.
You won’t pay unnecessary fees and penalties
Once you’ve found a reliable business accounting service, you can relax knowing that your accountant keeps a watchful eye and won’t let you fall behind on your payment to government agencies and regulatory bodies. This will not only save you from unnecessary payments, but also from the unpleasant and restrictive effects of penalties for late payment.
You’ll save time on bureaucratic stuff
As a business owner you are probably less familiar with the accounting world than you are with your own business. This can become a time consuming issue in situations when you need to fill out specific forms, apply government programs or just deal effectively with CRA. Your accountant can save you precious time by helping you with these issues.
Your business will grow faster and safer
An experienced accountant may have already seen businesses in situations that are somewhat similar to yours. Your accountant has intimate knowledge of the financial aspects of your business and can help you evaluate new opportunities probably better than other advisors can. A good accountant should have the ability to analyze those opportunities from a cold, financial perspective that you may not have as someone who is deeply involved. Your accountant can help you identify opportunities for growth as well as those that need to be avoided.
If you require additional consultation or a tax planning strategy, please do not hesitate to contact us. We serve clients in Toronto, North York, Vaughan, Thornhill, Richmond Hill, and all other GTA cities.
Polina Presman, CPA, CA
T- 416-371- 6017
Shani Marzin, CPA, CA
S&P Accounting Services LLP
2727 Steeles Ave. W. Suite 300
North York, ON, M3J 3G9