4 Ways Your Accountant Can Help You – Other Than Doing Your Taxes

When I talk with people about what we do at Gibbons & Gibbons, I refer to us as an accounting and business advisory firm. Accounting and tax services are what people expect to hear. It’s that second part – business advisory services – that most people want to know more about.

Every small and mid-size business owner I work with, in any industry, has questions. From determining when to invest in their business to figuring out how to manage irregular expenses, there are always decisions to be made. Having an expert available who is knowledgeable about your business and wants to see you succeed is priceless to many business owners.

As a small business owner myself, I understand the challenges – and opportunities – that come with running your own enterprise. Here are four ways that an accountant can help your business grow well beyond tax time.

  1. Analyze your business structure

You may have started your business as a sole proprietorship or an LLC. But is that structure still right for your business? What are the relative advantages and disadvantages? What would be best for your business now – and how do you go about changing your entity type? An accountant can help you sort through these issues and make the best decision.

  1. Set up QuickBooks and other automated processes

At Gibbons & Gibbons, we’re proud to be Advanced Certified QuickBooks Pro Advisors, which means we help our clients hit the ground running with QuickBooks. We offer setup and training, and we’re always ready to troubleshoot with you. We stay up to date with the QuickBooks apps and add-ons that are available and make recommendations. The end result is a streamlined system that meets your needs.

  1. Develop business strategy

Running a business is all about making decisions. Should you merge with another company? Is now the right time to add an employee or rent office space? How well is the business growing, and what should you do next to maintain or improve growth? Your accountant can give you an impartial, numbers-based perspective that can help you see things in a new light.

  1. Solve problems

In our firm, we hear time and again that what our clients appreciate most is the open line of communication they have with us. We love to help our clients solve their business problems, so they can move forward and succeed. We’re not just numbers experts. We’re problem solvers.

What else does a good accountant do – beyond tax returns? Let us know in the comments.

Joe Gibbons, CPA is managing partner of Gibbons & Gibbons, P.C., a Northern Virginia-based accounting and business advisory firm that specializes in working with law firms and other professional service providers. Contact him today.

Photo by Matthew Guay on Unsplash