If you’re a small business owner, you likely have a lot on your plate. With managing employees, controlling work flow, and delegating tasks to keep yourself sane, thinking about doing your year end accounting and tax preparations is probably the last thing on your mind. But like all good business owners, you know that closing out the books, preparing for the new year, and getting your taxes taken care of is vital to your business’ success. While some business owners choose to do their own year-end accounting and tax preparation, we know how overwhelming and stressful that can be. If you’re on the fence about hiring an expert to do your accounting and taxes, check out our top 8 signs that you should hand off your year-end accounting to professionals.
You Find Yourself Confused or Stressed About Money and Taxes
Accountants are there for you throughout the entire year, not just at tax time. They can answer your questions, provide you with tax projections, and assist you with financial advice all year long. The professionals at Back Office Support Solutions can help you with financial planning, strategic analysis, accounting software management, and so much more. If you often find yourself googling answers to your financial questions or stressing about what you’re going to do at year-end, having an accountant by your side will be nothing but beneficial.
You’re Not Detail-Oriented
Some people are incredibly precise, thorough, and detail-oriented, and some just are not. You have to have a bit of detailed vision to be a business owner, but if you don’t consider yourself incredibly detail-focused or precise, you are better off staying away from tax preparation and year-end accounting practices. The experts at BOSS are professionals at catching every detail that requires attention, and guarantee accuracy.
You’re Not a Year End Accounting or Bookkeeping Expert
Accounting and bookkeeping are a whole different beast than most facets of a business, and they absolutely need to be handled by an expert. If you don’t have specialized knowledge and training in either, you are better off letting a San Diego accounting expert handle these tasks. You may think that you’ll save yourself some money by doing it yourself, but with minimal knowledge of how to complete the tasks at hand, you’ll likely spend more time and money accomplishing a job that could have been completed more quickly and with more precision by an expert. Every staff member at Back Office Support Solutions has education and training in his or her specialized field, and each individual is truly an expert in their specific role and field.
You May be Audited
If you think there is any chance at all that your business may be audited (and technically, everyone has the potential of being audited), you absolutely need a tax and accounting professional to get your financials in order before the audit begins. To really stay on top of your records and prepare for a possible audit in the future, BOSS offers audit-prep as part of your year-end accounting and tax preparation to ensure everything is correctly recorded and filed. Our team will make an audit as stress-free as possible.
Your Business is Growing and/or Changing
If your business has been growing significantly or you are predicting substantial growth in the future, it is best to hire an accountant now to handle all the financial facets of your business. They can help you with growth transitions and can keep all the small details in check so that you can focus on the big picture. Additionally, if you’re restructuring your business or considering selling or closing it, the financial experts and strategic planning professionals at Back Office Support Solutions can give you unmatched advice and help you through the transition.
You Don’t Have the Proper Software
Even if you have QuickBooks, like many business owners, you may not have the knowledge required to most effectively complete year-end accounting tasks. Back Office Support Solutions accountants are masters of QuickBooks and other professional software, and put their skills to work to help you take care of the financial side of things at year-end, resulting in more thorough and precise results than you could come up with yourself.
You Have a Complex Business Structure with Many Streams of Income
As many entrepreneurs do, you may have several avenues of income within your complete business structure. If you’re dealing with several different streams of revenue, various employees, and complex investments, it is generally best to hire a seasoned professional to handle your year-end accounting tasks. Back Office Support Solutions can help you plan and strategize to get the most out of your complex business structure, and we can also help you keep it organized and legitimate. Don’t attempt to take on your own tax prep or year-end accounting if you have this much at stake—count on the experts at Back Office Support Solutions to take care of it for you.
You Don’t Have the Time or Drive To Do It Yourself
Being a business owner simply means that you’re busy. If you don’t have the time (or don’t want to make the time) to do your year-end accounting and tax preparation yourself, then you need to hire someone. These are not things that can be taken lightly or rushed through. Additionally, if you don’t have the time or motivation to learn what you need to learn in order to properly and thoroughly complete your tax prep, hand it off to someone else.
If you feel that even one of these 8 signs applies to you, it is time to hire a professional to complete your year-end accounting and tax preparation. At Back Office Support Solutions, we offer a variety of accounting, bookkeeping, and tax services (and more!) that will benefit you and your business in a very substantial way. All of our experts are highly trained and experienced, and they are ready to help you out right away. Regardless of if you need long-term help for some large projects or short-term assistance for smaller tasks, the professionals at Back Office Support Solutions want to help. Give us a call right now at 619-363-3009 or fill out our contact form. Whatever you do, don’t let another minute go by without seeking out the experts to help take a load off your shoulders and to help you accomplish all of your financial goals.