There are at least 1.3 million accountants in the United States. Here are 5 signs you need an accountant now.
Between 30% to 50% of accountants in the United States are certified public accountants (CPA). Who needs an accountant? The answer might shock you.
Here are 5 telltale signs you should hire an accountant:
1. You Need an Accountant If You Don’t Know Anything About Taxes
If you’re here, you’re probably asking yourself, “Do I need an accountant?” It depends on how much you know about paying your taxes.
Tax code is nuanced and complicated. Nonetheless, if you don’t pay the right taxes, you’ll be hit with penalties and fines.
An accountant can tell you about deductions and tax credits. They can also predict how much taxes you’ll owe in the future.
Plus, once tax season comes, an accountant will file your taxes for you. That fact alone should make you say, “I need an accountant.” Use this guide to choose between local accountants.
2. Bookkeeping Takes Up Too Much Time
Whether you’re self-employed or running a business, time is money. Managing your finances can take away time from performing other important tasks. When people hire accountants, they can devote that time to growing their business.
If you spend hours managing your finances, you should hire an accountant. Accountants work quickly and efficiently with numbers. They also knows the ins and outs of the IRS.
3. Concerned About Upcoming Deadlines
Tax deadlines are serious business. If you don’t meet a deadline, you’ll incur penalties. Penalties are bad for your business and stress levels.
If you’re afraid of deadlines, you probably don’t have satisfactory control over your taxes or finances. That’s where an accountant can help you.
An accountant’s knowledge is a valuable resource. For instance, an accountant will help you stay on top of deadlines. They’ll also help you figure out what to do if you can’t pay the full amount.
4. You’re Being Audited
If you’re wondering who needs an accountant, think about anyone facing an audit. During an audit, the IRS scrutinizes every dealing you’ve ever had with the government and clients. Without an accountant, you don’t have a professional advocate.
Accountants have the knowledge to help you navigate the auditing process. They can also work with the IRS on your behalf.
Going through an audit alone will double your stress levels. Hiring an accountant will help manage that stress with expert guidance.
5. Increase In Business
As your business grows, so will the amount of money you have to manage. This means you’ll have to pay more in taxes.
Hiring an accountant will help you manage your finances and organize income sources. You’ll also get help with assets, hiring extra help, making business decisions, and more.
Don’t forget about those sweet deductibles. An accountant can really hook you up.
Stop Fearing Fear Tax Season
There are at least 10.1 million words in US tax code. You need an accountant for a better tax experience.
Around 66% of taxpayers receive a federal refund. If you don’t hire an accountant, you’re missing out on major money.
Invest in your financial well-being and learn more about money. It’ll make you richer than you ever thought possible.
