Growing a business is no small task. Whether you are a small business owner or have multiple franchises, taking your business to the next level always means taking a risk. However, what if you can negate some of that risk and even focus your time on more important things? Critically, could you even build a better business on top of your current business model? With the right tools and help you sure can!
If you are interested in growing a business to its fullest potential then you need help from a CPA firm. A CPA firm can help you in multiple ways so when you take a risk you can be prepared. Not to mention, a CPA firm can also help you save time to focus on other matters. Here’s how a CPA firm can help you grow your business to the next level!
One of the key areas in which a CPA firm can help you involves preparing for tax season. No one likes doing their taxes, and if you are a business owner with multiple locations it can get complicated fast. A CPA firm helps you save time by helping you file your taxes. If you are audited, a CPA firm will also represent you to the IRS. This helps you grow your business on two major fronts:
Paying the least amount of taxes Is going to keep money in your pocket. However, if you don’t know the tax law how can you maximize deductions? The simple answer: you can’t. A CPA can help you get the most out of tax season, and will also be specific to your situation. Additionally, having a CPA firm represent you means you will always be prepared should an audit happen. When you partner with a reputable CPA firm, you won’t have to worry about being on the hook for paying more to the IRS. You can rest assured that you have followed the law correctly while maximizing your deductions.
When you are growing a business it can be hard to keep track of documents and files. You don’t know what you can and cannot claim on your taxes as an expense. Instead of worrying about this, you can focus on other aspects of your business. You can focus on customer service or customer retention rates, just to name a few.
You’ve built an incredible business, but now you need to shore up support amongst investors to expand for the future. Could a CPA firm really help you with that? Absolutely! A CPA firm can help you run an external audit. In turn, this can help you win over investors and customers alike, providing you with an objective view of company finances.
That’s not the only thing an external audit can do. It can help you grow your business by:
Let’s stick to the topic of trying to expand your business. Oftentimes, businesses want to expand but don’t have enough cash on hand to do so. A CPA firm can help you apply for loans when it comes to expanding your business or providing a new product. They can help you get documents in order and help you select the right type of loan for your business venture.
Growing a business to the next level means you need exact details before taking a risk. A CPA firm can help you calculate the best payment schedule for your needs. Importantly, they can help you use the money in the best ways. You’ll get the best returns on your loans so you can grow instead of staying stagnant. You won’t be weighed down by unnecessary high-interest rates or unnecessary fees.
One of the more important aspects of growing a business is looking towards the future. To do this, you want to project not only where the market is going, but how your business will compete. A CPA accountant can help you grow your business by identifying financial projections for your business. While nothing can be foolproof, financial projections can help you market your products and services. Additionally, they can help you know how to plan for future growth. Of course, they also help with informing investors.
Both financial projections and external audits can help you with diversifying your business. They will help you identify strengths and weaknesses within your business. Consequently, this data will help you understand how and when your business should transition into other markets. Essentially, a CPA firm can help you sift through data to figure out how basic business practices (such as logistics) translate into another market.
Finally, a CPA firm can help you grow when it seems least likely. During a crisis, businesses are looking to shore up cash and calm investors. Navigating these waters can mean the growth or destruction of your business. Why go it alone? Have a helping hand with a CPA firm. They can help you plan for market downturns or the unexpected.
Focused on growing a business to its peak? Want to ensure that you can weather almost any storm? You can! At Sheffield, Trackwell, and Rapp, we have an excellent team of CPAs ready to help your business grow and thrive! Contact us today to see how we can help you!
STRCPA is available during this tax season to meet your needs. We are available via phone or email. Contact us