Whether you’ve been in business for a long time or you’re starting out with your first company, there are always ways to learn to improve. This can include your business practices as well as who you are hiring on your team. If you are opening a small business in Chicago, for example, you want to make sure that you seek out a small business CPA in Chicago to help with all of your accounting needs. Here are some things to know about how a Chicago small business CPA can help you, and where to find a good one.
CPAs Are Licensed
If your business is relatively small, you may be wondering if you even need an accountant at all. The answer is always yes. There are many reasons that you will want a CPA, even if you are just starting out on a relatively small venture. A CPA is a licensed accountant, and not all accountants are required to be licensed. Using a CPA instead of a regular accountant is beneficial because the licensed accountants have to keep current with tax laws in order to maintain their license. This means that they have the continuing education to ensure that your business is following the necessary tax laws, which can keep you from getting into financial and legal trouble down the line.
Another reason to hire a CPA is they can do financial analysis. Since they are the ones handling the finances, they can tell you if there is a problem and some can even advise you on how to go about fixing it. They can also support your business if you are audited by the IRS.
Finding a CPA
Finding a Chicago small business CPA may be more difficult than it seems, however there are a few ways to go about finding a good one. There are a couple options, and which one you choose depends on your business. An outside accountant, or accounting firm, will cost less than the salary of a full-time employee, however there is a benefit to having an inside accountant because they will focus on only your business and they will be more familiar with what is going on inside the business.
There are many benefits to hiring a CPA and many ways to go about it. If you think that your business is ready to hire a Chicago small business CPA, start by reading more into what they do and how to find CPAs in need of work, then get started on interviewing.