Five Reasons to Hire an Accountant
|
|
We live in a “Do-It-Yourself” world—from building your own Ikea furniture to crafting the home décor projects you see on Etsy. But if you’re a small business owner, there are certain aspects of your business where DIY may not work and you’ll want to get some help.
Here are five reasons a small business owner needs an accountant, with thanks to
Accounting Today:
|
|
|
1. Your business is in the startup phase.
There are so many things to think about when you’re starting a business! What is your structure? Should you incorporate? What regulations affect your business? An accountant can help you choose the most appropriate business structure, analyze your business plan and help you make sound financial decisions throughout the startup process, saving you from making mistakes that could cost you down the road.
2. Your business has employees.
Even if you don’t have a large workforce, an accountant has the knowledge to ensure employees and independent contractors are properly classified, oversee payroll and payment processes and help you in the timely compliance with all reporting requirements, often avoiding costly penalties.
3. Your business structure requires audits.
Although not all small businesses are required to conduct audits, it’s important to know when you are. Certain rules apply to publicly-owned businesses and private companies preparing for an initial public offering. All businesses need to be in compliance with “generally accepted accounting principles” or GAAP. Working with an accountant helps you make sure that your business complies with the appropriate regulations.
|
|
4. Your lender requests a financial statement.
At some point, you may need to borrow money to invest in your business. According to the Small Business Administration, small businesses borrowed over $6 billion last year. Whether you’re expanding, need new equipment, decide to purchase a property or just need an emergency fund, having a financial statement prepared by an accountant will increase your chances of success.
|
|
|
5. Your budget is falling short.
Accountants don’t just “crunch the numbers”—we’re here to help analyze your budget, assist with projects and highlight potential errors that might hurt your business. You’ve probably heard that about half of all small businesses fail within the first five years. We’re here to serve as consultants to provide the information that leverages a company’s chance of survival.
Please let us know if you’re ready to move your small business accounting from a DIY project to one supported by our team.
Call us at 630-653-1616 and we will be happy to help you set up your business for success.
|
|
|
|
This past month has been a busy one, including going on the road to attend some university career fairs. Here
Dan Bauer and
John Straus, CPA and partner, host a booth at Benedictine University in Lisle (Dan's alma mater). MMA & Co. is on the lookout for talent--we attended the Benedictine career fair and made a stop at Northern Illinois University, too.
If you know of an up-and-coming accountant who would welcome the opportunity to work with our team, please contact
Brett Mathieson, CPA and partner. You can reach him at
630-653-1616.
|
|
Our People Make a Difference
|
|
|
|
Staff Spotlight: Focus on Robin Metzer
|
Robin Metzger is one of the more recent additions to the Mathieson, Moyski, Austin & Co. team. As part of the accounting services staff, she helps with accounts receivables, tax returns and general accounting work. You may also recognize Robin's voice as she sometimes answers the phone when Laura steps away from her desk.
|
|
How long have you worked at MMA & Co.?
I have worked at MMA & Co. for a year this past July.
What was your first paid job?
My first paying job was delivering newspapers.
What do you like most about your current job?
What I enjoy about working at MMA & Co. is that everyone is very friendly and helpful. That really helps with all the changes that happen in the accounting field. I feel like everyone’s door is open. I'm also learning new things working here which I really enjoy.
What do you think people don't know about accounting firms that you would like for them to know?
I'm not sure what most people think about accounting firms but the accountants that work here are not your stuffy "bean counters." Everyone here has a pretty good sense of humor which certainly makes it easy to come to work every day.
What do you like to do in your spare time?
My spare time these days are mostly spent with our grandchildren, Molly, Levi and Eli, and their activities. We are looking forward to the arrival of our fourth grandchild in February. Besides being with the grandkids, I can be found either watching the Cubs or the Blackhawks and driving my husband nuts when the games get interesting. Let’s just say that I am not a quiet watcher!
|
|
This spirited winter 5K features post-race refreshments and holiday cheer, and the first 1250 runners receive a long-sleeved commemorative race shirt and, best of all, antlers. There's a price break for teams of four so form your team now.
Sign up early and save! Walkers are welcome, too.
(Photo, L to R: Ms. Lyla Mathieson joins her dad, Brett, along with partners Mike Moyski, CPA, Ron Austin, CPA, and grandpa Jim Mathieson, CPA, for last year's Reindeer Run)
|
|
|
The October 16 tax deadline is behind us which gives us a bit of breathing room between now and the New Year.
How can we be of service to you? Can we help you plan for next year? Let's get together to discuss how we can assist you in making 2018 even better than this year, whether it's through helping you get organized for the upcoming tax year, looking at opportunities for deductions for your business or taking a look at your complete financial picture. We are here to help..
|
|
Mike Moyski, CPA
Ron Austin, CPA
Brett Mathieson, CPA
Brian Eisenmenger, CPA
John Straus, CPA
Jim Mathieson, CPA, Of Counsel
(630) 653-1616
|
|
|
|
|
|
|
