4 Things New Businesses Should Look for From a CPA

When you’re a Texan entrepreneur, it can be daunting to build your business from the ground up. Planning a marketing strategy, seeking start up capital, and completing a business plan all takes an immense amount of time and energy. However, one aspect of your start up that you shouldn’t short change is the financial planning. That’s where accounting firms in Houston come in. Working with a CPA who knows what they’re doing is essential to make sure that you get the right tax breaks, choose an appropriate incorporation status, and plan for growth. Here are four services that entrepreneurs should expect to receive from CPA firms in Houston.

1. Claiming All Eligible Tax Breaks

There are a lot of different types of tax breaks that businesses can take. This is especially applicable to new entrepreneurial enterprises. Entrepreneur offers an exhaustive list of tax breaks that can be taken by businesses, including everything from rent to the actual cost of your CPA. Make sure that you go over these deductions carefully with your accountant, and have them explain each one.

2. Choosing the Right Type of Incorporation

One of the most important things that your CPA will advise you on is the type of business structure that best suits your company. The most common types are S corporations and C corporations. This is usually determined by size, but it takes careful thought and consideration. With one wrong move, you can put your entire business’s financial plan in jeopardy, which is why you need to work with consulting firms Houston-based that specialize in the needs of startups. Services offered should not only include the standard Tax Preparation Houston, but also guidance about how your company will grow. The different incorporation types will most strongly effect how your taxes are filed, so you need to be sure that you’re making the best choice that matches the size and style of your business.

3. Proper Assessment of the Money You Make

While your profits may be soaring, understanding how much money you’re actually making also depends on how much you’ll need to pay for taxes, and what your future goals are, according to Business 2 Community. Therefore, having a qualified CPA to ground you with an assessment of expected expenses can be a true attribute to your mindset as an entrepreneur trying to keep a new business afloat.

4. Staff Training Offerings

Having the right CPA is monumentally important in order to keep your finances on track. However, another aspect of this process is ensuring that your employees know how to use software like Quick Books to ensure that finances are being tracked properly. CPA firms that offer training for staff are invaluable, providing expertise to help put into practice solid accounting standards by everyone in your company.

The bottom line when you’re looking for a dependable CPA in Texas is to go hire a firm that has experience and proven track record. Let the professionals show and not tell by offering up their client roster. Look up reviews online and see what other customers have to say. Once you’re working with someone reputable, they should offer all of the pointers outlined above.

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Author's Note

The writer is an expert in the field of Accounting Firms with focus on CPA Tax Preparation Fees & Tax Preparation Houston.