As a small or medium-sized business owner in Mississauga you are probably always weighing the options of doing a job yourself or hiring someone to do the work for you.  One of those decisions is frequently deciding about using an accountant.

Of course, you understand that an accountant would make your life easier but balanced against the expense, it may or may not be feasible.  One thing to consider is your own time.  How long will it take you to complete the tax forms and could you have used that time to better benefit.  If it takes you 10 hours to complete the forms and you figure your time is worth $100 an hour (the amount of money you make running your business and earning income), then preparing the return cost you $1,000.  Is an accountant less expensive?  Probably so.  Not to mention worrying about the consequences of any errors you may have made.

An Accountant can Help in Many Ways 

If you have not already done so, you will need to formulate a business plan.  This is a document that is a map of how you want your business to operate and is a critical piece of documentation when you start looking for loans or investors.  Along with a business plan you will need specific documents like financial projections.  The accountant can help you prepare those papers as well as recommend software that will make the work easier.  Couple that with cloud-based storage and you will have all the information you need with immediate access so that you can see not only the current stage of your company but track it for future growth.

When you are ready to go to a bank or other financial institution to apply for a loan, it is a good idea to have your own accountant on your side.  Banks want to get their money back.  They will only lend to companies they feel are a good risk.  If you have an accountant, you are indicating that you are serious enough about your operation to invest in a professional to assist.  In addition, having an accountant at the meeting means he or she can answer questions the bank may have as well as explain any terms or provide clarification to you.  They are also valuable in finding the right lender for your needs and for recommending whether the terms offered are favorable to you or not.

From dealing with a tax audit to filing compliance documentation, the government is difficult to work with.  A good accountant can help you keep up to date with all the tax laws, help you complete and file any paperwork, help with payroll so that the codes are correct and the appropriate amounts are being withheld and remitted.

As your company grows and prospers, accountants can also relieve you of some of the daily burdens as well as advise on mergers, acquisitions and franchises.

In Mississauga, one of the best choices is Capex CPA.  Contact us today to see how we can help.

Contact your Accountants today click on this link —> https://capexcpa.com/contact
- The Capex Team