When most people think certified public accountants (CPA) only handles taxes. While many CPAs are tax experts, they offer a number of other services that can help people with their personal or business finance needs. Here are just a few things a CPA in Yorktown can do for you.
Payroll Accounting
Payroll is more than just cutting checks to your employees for wages. In addition to withholding and reporting payroll taxes to state and government agencies, you need to account for the money paid to employees in business financial statements and tax returns. This can easily take hours, if not days, to complete. A certified public accountant can handle the calculations and reporting for you. Simply submit the required information like employee hours and pay rate and the accountant will handle the rest. This leaves you with time to manage your business or take a day off.
Financial Advice
You invest a lot of time, money, and effort building your business. A CPA can help you protect your investment and plan for the future. This may include helping you with estate planning so you can pass your wealth onto your heirs or developing a financial strategy for limiting your liabilities while building wealth. They can even provide some advice on the type of accounting software you should use to manage your business’ money and account for every incoming and outgoing penny.
Tax Planning
Last, but not least, a CPA in Yorktown can help you manage your tax obligations. They are knowledgeable about all the business structures (sole proprietorship, LLC) and can help you plan for the associated taxes and get those returns filed in a timely manner. CPAs can also help your family manage taxes related to inheritance and estate planning, so your heirs are not hit with a giant tax bill that threatens their security.
Properly managing money is critical to your personal and business success. A CPA can help you plan for eventualities and ensure you stay on track on the road to success. Invest in hiring a great accountant and that investment can pay off with increased profits down the line.