When deciding on your next accountant, you may question the availability and schedule of your tax accountant in Phoenix AZ. At peak times, especially near deadlines, lack of availability can cause headaches and frustration if you can’t get a hold of your trusted business advisor. You may have even experienced this or watched other business owners deal with the challenges. However, this does not describe every accountant and their schedule. Fortunately, there are accounting services that are both professional and available, helping you feel at ease about your business’s financial situation.
Get the Most Out of Your Meetings with a Tax Accountant in Phoenix AZ
For small business owners like you who are working hard every day to keep their business running, it can be taxing to take time away from the business and discuss plans, taxes, and the next steps with the accountant. You should, however, consider making time for these important conversations. Your preparation in the present will help increase your business and its potential to grow over time. Quite literally, your efforts to properly manage your business will pay dividends year after year.
Additionally, your accountant will help you remember to keep important business information organized. Employer identification records, past year tax filings, and other documents are crucial to staying on top of your tax situations. Getting the value out of meeting with your accountant means that you are prepared to listen and apply what you learn to your business. Remember, your accountant may likely have experience dealing with businesses similar to your industry. You can gain valuable information as a result of careful listening and following their counsel.
Understanding your Tax Accountant in Phoenix AZ
More than blindly following your accountant, you should seek to understand the “why” associated with their advice specific to your business. This will require some effort on your part, however, it will certainly give you the upper hand as your business grows. The upper hand, or competitive edge, is the kind of value you should be looking for from your tax accountant in Phoenix AZ. We recommend that you go ahead and listen to your accountant but do so with the intent to learn.
Why Your Tax Accountant in Phoenix AZ Knows Their Stuff
Meeting with your accountant for the first time, you might not know what to expect. Per industry standards, you can trust your accountant to maintain your conversations and any numbers or figures to be confidential. If you’re still having doubts, ask for referrals and speak to other like-minded business owners who have dealt with the accountant. Be candid about any concerns that you might have, making sure to address them upfront. Holding on to any questions or lingering thoughts can cause you to lose trust over time.
How Accounting Expertise Can Benefit Your Small Business
You’ve probably considered the value proposition of hiring an accountant to help you with your small business. If you’re still questioning whether or not a tax accountant in Phoenix AZ is right for your business, here are a few pointers to help you make the right decision. First, you should consider your business needs and define specific services as they would benefit your small business. Second, it’s recommended to set budget, cash flow, and overall revenue goals. Third, keep your books up to date or make a plan to make needed updates. Within these factors, you can have a discussion with your accountant and decide at length what next steps are worth your accountant’s time and yours.
Establish Expectations with your CPA
If this is your first year with a new accounting firm, you would do well to establish clear expectations from both parties. Don’t go on and expect things to change, simply because you are paying them for business-critical professional services. Speak clearly and candidly, letting your accountant know exactly what you’re thinking. Having conversations similar to these can be uncomfortable, but for you as a business owner, it will give you great peace of mind in the long term.
What if Other Businesses Seem to be Doing Fine?
So what if other business owners seem to be doing fine on their own? According to Statista, about 64% of business owners still do their own bookkeeping. To those considering the value of these services, remember the opportunity cost. Not only does this cost time in training, but it also may cost extra time to fix the books if and when things go awry. Do you want to be dealing with the books when you have customers you need to take care of? Go ahead and take a load off your shoulders. Give the best attention to your clients and customers, and your accountant in Phoenix AZ will be able to help you out.
What About Bookkeeping Software?
As a business owner, that’s an excellent question to consider. If you are still manually entering every invoice and expense into a spreadsheet, you should examine your bookkeeping policies. For your business, now might be the perfect time to make the transition. In fact, ZDNet reported over 5.5 million businesses and their owners have a subscription to Quickbooks Online. This suite of software is especially useful for high-availability, high-security applications. It allows you to automatically enter data from your bank, point-of-sale system, and any receipts. You should speak with other business owners and see if it’s the right fit for your business.
Accounting In the Right Place at the Right Time
Having your accountant at the ready means that you can make split-second decisions with confidence. Don’t move forward doubting your objectives. You shouldn’t have to second guess whether or not you’ll be able to move forward. With the right assurances, your small business plan will be much easier to achieve in a reasonable amount of time. The top-notch insights you gain from your small business accountant will help you navigate the myriad of decisions you need to make.
You’ll definitely want to establish clear communication and make sure your schedule can align with your accountant. The best possible outcome is for you and your small business CPA to have regular communication about your business. Using their expertise, you will be able to put yourself in the right place at the right time.