Who’s your Valentine this year? If you’re a small business owner, it should be your accountant.
No, I’m not suggesting you date your accountant. But what I am suggesting is that, well ahead of tax season, your accountant should be your closest confidant and biggest ally.
Too many small business owners have an on-again-off-again relationship with a financial advisor. But, according to a recent study conducted by Xero, more than 65 percent of failed entrepreneurs blamed financial issues for their downfall. Forming a strong relationship with an accountant can make the difference between success and failure.
Beyond filing taxes, accountants can help with bookkeeping, investment management, and business audits — services all business owners need. Plus, an experienced accountant who’s familiar with your business can help you navigate many nuances, like your state and city’s rules, regulations, and compliance requirements.
But the path to a productive experience with an accountant starts with building a foundation for a long-term relationship, not settling for a tax-season fling. Here are six tips for getting your relationship off on the right foot.
Do you have the support you need to manage your small business bookkeeping?
Schedule a 30-minute appointment to speak with a local small business adviser.