Choosing an Accounting Service for Small Business

Not all accountants handle the same small business services; making it important to know what you need and locating the right accounting service to support you. Whether you are a new small business owner ready to outsource your Boulder bookkeeping and accounting services or a seasoned entrepreneur needing tax planning, an accounting expert is a valuable member of your team.

Monthly Accounting Services

If you have ever struggled with making a financial decision because you just don’t know “where you are” financially, you could benefit from a bookkeeper. Depending on the frequency of transactions, you will want your bookkeeper to be entering transactions on a daily, weekly or monthly basis in order to stay on top of your financial picture. Your bank or business coach may require financial statements and it’s important to have accurate information for them to make sound decisions. Monthly accounting services will keep your transactional data up to date and accurate to allow you to focus on your business, not journal entries and reconciliations.

Payroll Services

Some accounting services in Boulder offer payroll services and others don’t. Can your small business accounting firm grow with your business? Payroll services such as preparing payroll, remitting appropriate taxes and cutting checks, and direct deposits take a huge liability and burden off your plate. The consequences of poor payroll management and remitting of taxes can get your business into hot water. Eliminate the risk of lawsuits and audits by turning this task over to a professional.

Tax Preparation

Are you getting all the deductions you should? Is your business located only in Colorado or is it multi-state? The complexity of your returns depends on several factors and it’s important the small business accounting service you use is receiving continuing education on both federal and state laws that can affect your pocketbook.
Specific tax situations, if not handled by an expert, can lead to loss of appropriate deductions and, at worst, tax penalties. Make sure your accountant understands the types of tax preparation you need such as:

  • Individual Return
  • S & C Corporations
  • Partnerships & LLCs
  • Trust, Gift and Estate
  • Multi-state issues
  • Optimizing Deductions
  • Options & Restricted Stock
  • Tax Elections & Credits
  • Passive Activity Rules
  • Prior Return Analysis

Tax Planning

Did you owe taxes and wonder if you overpaid? Wondering how to reduce them in the future? Appropriate tax planning can be done with the help of a knowledgeable CPA firm that understands both small business and tax laws. With proper tax planning knowledge and tools you can rest easier without worry about being hit with a huge tax bill you weren’t expecting.

Choosing an accounting service for your small business means selecting a CPA who can not only meet your needs now, but can grow with you and your business. Start by determining what you need and how you envision your business expanding and work with a knowledgeable accounting firm with a variety of services.

To learn more about ScherGroup Certified Public Accountants and Advisors and how we can assist your business visit us at https://schercpa.com/ or call 1-303-443.9001.

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