Every small business hits that moment when accounting help is needed, potentially saving time, money and major headaches.
In this episode of Small Business Smarts, we break down the signs that it's time to bring in the financial assistance needed for a business to thrive.
For more information, visit ADP.com/SPARK
Victoria Jordan
Small business owners are scrappy. We wear a lot of hats. Sometimes we question whether we need to invest in expert guidance versus doing something ourselves and saving that money.
It's a good time for me to ask for help from Heather Sperduto with ADP. Heather. Hi. How are you?
Heather Sperduto
Hi, Vicky. How's it going?
Victoria
Good. But I have a question. I have a CPA that I really like working with, but I've really only tapped into her when it's tax time. What do you think is the right time to hire a CPA? For real?
Heather
It is never too early to hire a CPA, accounting professional, or bookkeeper. I actually suggest that they find and seek out an accountant before they even kick start their business. And the reason for that is things like establishing the business entity and selecting the structure of how that business is going to be formed. That starts with the guidance of an accountant.
In addition, though, it's so much more in terms of looking at, yes, the tax planning, the budgeting, the forecasting and the overall cash flow that comes in and out of a business. So the CPA is well-poised to not only give you that guidance, but really stay by your side and make sure that on a continual basis, they update you accordingly on the best way to streamline.
Really, all of the things that have to do with running your business in today's world of work. Vicky, as you go out there and seek out some guidance, here's one other thing I leave you with in today's world of work. Things change so fast, especially from a compliance perspective. In the modern world, and especially when we look at some legislation and changes, there's incentives out there for business owners.
So make sure you bring that into the conversation with your accountant, because there might be some really cool aspects that you could look at that will even strengthen the way that you do your tax planning with your account.
Victoria
You definitely gave me a lot to think about. Thank you so much.
Heather
My pleasure.
Victoria
Well, there you go. I'm going to talk to my CPA about what more I could be doing, and about every decision I make from here on out. And if you're thinking of starting a business, find a CPA that you like to work with first.
