As a small business owner, you have a lot on your plate. You need to wear many hats and juggle multiple tasks simultaneously in order to keep your business running smoothly. But even if you're doing everything yourself, there are certain things you can't afford to ignore - like bookkeeping and tax preparation. That's where a CPA comes in. Here are six ways a CPA can help a small business.

1. Save Money on Taxes

Business tax accounting can be complicated, and if you're not an expert, you could be missing out on deductions and credits that could save you a lot of money. A CPA can help you maximize your deductions and ensure you're taking advantage of all the tax breaks available to small businesses.

2. Stay Organized

If you're not used to keeping track of business expenses, it can be easy to let things slide. If you don't have good record keeping, it will be difficult to prepare your taxes or apply for business loans. A CPA can help you set up a system for tracking expenses and income so you can stay organized throughout the year.

3. Make Strategic Decisions

A CPA can offer valuable insights into your business finances, which can help you make strategic decisions about where to allocate your resources. They can also help you create financial projections to plan for future growth.

4. Prepare for an Audit

If your business is selected for an audit, a CPA can represent you during the audit and help you resolve any issues that come up. They can also help you avoid an audit in the first place by making sure your books are in order, and your tax returns are accurate. As a small business owner, never take business tax accounting lightly because the IRS can come after you for any discrepancies.

5. Get a Small Business Loan

If you're looking for financing to grow your business, a CPA can help you prepare the necessary financial statements and projections required by lenders. They can also offer advice on which type of loan would be best for your business.

6. Close Out Your Books and Create Financial Reports

A CPA can help you close out your books and prepare financial reports at the end of the year. These reports can be useful for tax preparation, applying for business loans, or simply tracking your business's progress over time.

According to GoRemotely, 36% of small businesses feel they don't have enough time, 32% feel they don't get enough direction from their accountants, 29% believe their accountants don't help them enough, and 23.6% feel they are not taught enough. That's why it's so important to find a CPA that you trust and that you feel is invested in your business. Do your research and take your time finding the right CPA for you. It will be worth it in the long run. Looking for someone to help you with business tax accounting? Call us today!