Valuable guides for your company, at each stage.
Accountants like the professionals at Kerby Accounting handle tax preparation and tax filing for businesses in and around the Orlando area. Taxes are a job no business owner enjoys doing, but planned and strategized correctly, reduce companies' liability, keep them compliant and potentially reduce costs.
Tax structure start points
Business tax structures can always be changed as you grow, but getting off on the right foot is a sure step in the right direction for a fledgling company or entrepreneur. An accountant can help you figure out the best business structure for your firm today, whether it's a sole proprietorship, limited-liability corporation, partnership, etc. They'll help you file the correct forms and educate on what each structure means.
Other ways accountants can help with the launch of your company:
- Suggesting a bank in Orlando that might be best for your business bank account.
- Recommending accounting software to reliably track your small business income and expenses
- Assisting in creation of your new company's business plan (before you present it to investors)
- Ensuring your accounting procedures comply with IRS regulations and requirements
Accountants help set up the systems that set up your small business for success, but don't just abandon you then as a business owner. They are onboard for the long haul. Accounting systems take maintenance, and a professional accounting team with robust experience.
Your Orlando area-company may need someone to oversee payroll, for example, or payment processes. You may need a professional to be sure independent contractors are classified correctly by the IRS, and not considered employees of your company. Having an accountant in your corner who helps break down financial statements in to clear, understandable concepts is a valuable asset that guides the running of your company.
The tax aspect alone of running a business brings so many accounting questions. Guidance seems to always be needed on:
- Estimated tax payments throughout the course of a year.
- When, and to whom W2 and 1099 forms should be sent
- The process of closing out books and creating financial reports at year's end
- Compiling required IRS paperwork, such as taxes and financial reports
Company growth phase
Whether you want to start a new product line, open a location outside of the Orlando market or expand your company's range of services, your accountant can help. In fact, if you want to get bigger but aren't sure where to begin, they can help you find profitable growth areas, offering insight on cash-flow patterns, inventory management, financing and pricing.
Your accountant can help you formulate a plan. They can also help you create a business budget if you are looking to purchase property or equipment, or help you find avenues to lease space or equipment, if that is a better avenue for your situation.
Think of your accountant as much more than a tax-time helper. They are a long-term planner for your business that will pay off grandly in terms of information, time and money in the long run for you as an owner.