With decent software like QuickBooks, small business owners are often tempted to skip hiring a certified public accountant. While you can probably handle some small business bookkeeping on your own, you should keep an eye out for certain times when you need professional help. Here are four signs your small business needs a CPA in Los Angeles.
1. Business Is Good
As a small business owner, you might have very little time to look around and see just how well your business is doing. If your company is booming, you are probably missing some accounting or regulatory requirements that come with business growth. To make sure you are doing everything you should, talk to a skilled accountant like those at Lalea & Black, LTD.
2. You Are Planning
Every small business should have a good business plan. If your organization is planning for future growth, you probably want to consult with a CPA to get realistic financial estimates for your company.
3. You Are Starting a New Venture
Many small businesses launch startups and subsidiaries. To get the legal organization right in any new venture, you probably want the professional assistance of a CPA in Los Angeles.
4. You Receive an Audit Notice
Whether your organization is under a tax audit, acquisition audit, financing audit, or any other type of audit, you likely do not want to go it alone. Audits are complicated processes that require a tremendous knowledge of business processes, accounting procedures, and laws. Even worse, the consequences of messing up an audit are extreme. Thus, if you receive an audit notice, you probably want to hire a professional accountant.
By watching for certain signs, you will generally know when your small business needs to hire a CPA in Los Angeles. Instead of scrimping on bookkeeping or other professional business management services, your organization likely will benefit from a CPA in these instances.
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