Before starting a business, it was probably simple to do your taxes and keep tabs on your finances. Bookkeeping programs such as Quick Books and MS Office Accounting simplify the process for non-commercial users, but for businesses, it makes sense to hire someone to handle accounting, tax and other financial tasks. Choosing from all the Accountants in Brooklyn is an important choice, which we will discuss below.
An Accountant Can be a Trusted Part of Your Team
Many businesses choose to work with large accounting firms, but some choose to work with solo professionals or small firms. The terms ‘accountant’ and ‘bookkeeper’ are used interchangeably, but they are not the same. An accountant can prepare tax returns and finance statements based on information you provide, and not all offer bookkeeping services.
If you own a small business, you probably do not need an accountant on a full-time basis; you just need someone to add up the numbers every month or every quarter to prepare your tax paperwork. If your record-keeping style is on the disorganized side, you should consider hiring a bookkeeper to keep your financials in order.
Factors in Choosing an Accounting Service
Services required: When choosing an accountant, start by listing services you need, such as balance sheets, tax prep, financial reports, payroll, invoicing and bookkeeping. Some accounting firms take care of all of the above tasks, and some do not.
Cost: Accountants’ fees vary widely, from $50/hour to several hundred dollars or even more. Some accountants provide a package of services for a flat fee per month, and some provide low-cost bookkeeping and other help that doesn’t require a CPA’s training.
Who you’ll work with: If you’re contemplating hiring a large accounting firm, determine who will handle your day-to-day financial tasks.
Company philosophy: Choose a firm whose ideology is as aggressive (or conservative) as yours.
Business bookkeeping can be a time-consuming and frustrating task. Don’t allow another year to go by with you doing all the financial ‘heavy lifting’–hire Accountants in Brooklyn to take care of those tasks, so you can get back to running your business.
