If I ask the person sitting next to me what they fear most in life, they would probably say: ‘Death, taxes and public speaking.’ (Just maybe not in that order…)
But if I ask a business owner what they fear most, they would tell me: “Being Audited, Having Enough Money to Retire, and Being in Compliance with Tax Laws.”
Those latter three fears aren’t as simple to say as the first set, but then again, they shouldn’t be. Owning a business is a complex responsibility. No one – no matter how knowledgeable they are about finances – welcomes an audit, doesn’t worry about their nest egg, or is completely confident with the ever-changing tax laws. That’s why many people have someone else manage their finances. Someone they can trust to handle the task.
How do you know when it’s time to share the responsibility of your finances? Ask yourself:
- Do I understand the tax laws?
- Do I have the time to complete the daily, quarterly or yearly paperwork?
- Am I truly skilled in all matters of investment planning?
If the answer to any of these is ‘no,’ it’s time to turn over your books to someone who is passionate about finances (yes, we do exist!). Someone who knows tax laws inside and out, and who has the time to give personalized attention to what you and your company need to thrive.
Which brings us to the last question – What are the three qualities you should look for if you decide to hire an accounting and tax service firm for your business? Without a doubt, it’s Trust, Expertise, and Peace of Mind. With all of these, your money is in good hands.
When you hire an accounting firm, you can put to rest your audit, retirement, and tax laws fears because you have found someone you can trust.
Now, if I could just get over my fear of going to the dentist…
Need a helping hand? Contact Capital and Worth today.