There are many misconceptions when it comes to hiring an accountant. Some people think that accountants are only necessary during tax season, but CPA’s do more than just taxes! We’re debunking the 5 most common myths regarding CPA’s and accounting. See below!
Myth #1: Accountants Only Prepare Taxes
Accountants work more than just 4 months out of the year! Apart from the busy hustle of tax season CPA’s work year-round providing other services to their clients both individuals and businesses.
Other services can include; business problem solving, investment tracking, corporation set-up, personalized financial services, 401k’s and IRA’s, payroll, due diligence, IRS representation, and investor visas.
Accountants are skilled in all area’s of the financial management field; they help guide their clients through personal and business needs.
Myth #2: My Accountant has to Live in the Same State as Me
Oftentimes, business owners and people with financial management needs think that their CPA must be located in the same State BUT that’s simply not true! In today’s technology filled world this is no longer the case.
Documents and other financial information can now be shared safely through secure technologies.
The #1 goal when hiring an accountant is TRUST and the peace of mind that your finances are in good hands.
Myth #3: Small Businesses Don’t Need CPA’s
Whether big or small your business can benefit from having an accounting team who is looking out for their finances. An accountant can guide your business through tax season and business problem-solving.
If your business is having problems, a knowledgeable accounting team can help you get to the root of the inefficiencies.
Myth #4: Outsourcing your Company’s CPA is a Loss of Control
Many business owners believe they have to have an in-house accounting team, that is simply not true!
Entrepreneurs and business owners both big and small often equate outsourcing with a loss of control.
Outsourcing your bookkeeping and other financial management needs can give your company more flexibility and insight.
Myth #5: Outsourcing your CPA is a Security Violation
The safekeeping of your books and financial information is the most important thing for all individuals and business owners, big or small.
People think that outsourcing their CPA is a cause for security concerns. However, accounting firms and teams are bound to privacy policies and CPA code of conducts.
A certified team of professionals is well equipped with knowledge of privacy laws, they know the importance of each clients privacy of their financial accounts.