Business Accounting in Las Vegas
Everything You Need to Know About Business Accounting in Las Vegas
As a small business owner, you probably already know how crucial it is that your business keep accurate financial records. But if you don’t already know, now is a good a time to start. You work hard to keep your business competitive and to provide the best products and services in Las Vegas. That’s why you shouldn’t let poor record keeping or a missed tax bill derail your dreams of making it big time.
Why Do Businesses Need Accounting?
From conception to incorporation, a small business can partner with a trained business accountant at any step of the journey. Why? Because the purpose of your business—any business, for that matter—is to make you, your shareholders, and your employees an honest living. Your trained Certified Public Accountant (CPA) from Stanford Services LLC helps you do that by making sure your financials are in good shape.
A CPA helps your business in every aspect. Without accurate inventory cost records, how can you know what your profit margins are? How can you be sure you’re still taking in enough income to cover overhead and employee expenses? A qualified business accountant uses the records of the past to help you create a plan for the future.
That’s to say nothing about the IRS. Of course, having an accountant handle your statements is excellent for strategic development, but it’s essential to avoid a hefty tax bill.
How Long Should Business Accounting Records Be Kept?
Too many business owners run into trouble because they didn’t keep their accounting statements for the recommended seven years. Remember that the IRS can ask to review your financial documents at any time and for any reason. It’s crucial to work with an accountant that provides you copies and keeps all your records for the recommended length of time so that you can avoid a stressful audit.
Business Accounting for Small Businesses
When you’re looking for a business accountant near you, you shouldn’t go with the first large company you find. Maybe you saw one of their slick advertisements on television, but odds are, they won’t be providing you the first-name-basis service you deserve as a small business owner.
All of us at Stanford Services LLC are small business owners ourselves. We understand the pressures and challenges that small businesses in Las Vegas face. That’s why we’re the best choice for business accounting for small companies in the city.
Seven Reasons to Hire a Business Accountant in Las Vegas
Hiring an accountant to manage the financial operations of your small to mid-sized business can take a lot of the burden off your shoulders. Many Las Vegas business owners avoid hiring an accountant because of the expense. But with Stanford Services LLC, accounting services have never been more affordable. And with massive savings (and potentially greater profits) in the long run, it’s always best to hire an accountant early on.
Join us as we explore seven reasons to hire a business accountant with Stanford Services LLC.
- 1. Getting Started
When you’re just starting out there are so many decisions to be made and so many strategies to put in place. Managing everything efficiently means that some less immediate questions might fall to the wayside. For many business owners this includes, unfortunately, accounting. It’s very important that accurate records are kept right from the beginning. That means choosing the best accounting software for your business. Stanford Services LLC can help you avoid cleaning up disorderly books and taking valuable time away from managing your business.
- 2. Good Decision-Making
Good decision-making depends on good data. And if your goal is making money, then it’s important to have information on previous financial decisions that were successful or unsuccessful. Did hiring extra workers last year help or hinder profit margins? And how about investing in a new office space? With an accountant you get the advantage of charting past decisions to make informed decisions about the future.
- 3. Cash Flow Management
Cash flow management is without a doubt the most important part of running any small business. Many companies fail in the first three years because of cash flow problems. Accountants are trained to look for signal problems before they become real problems. At Stanford Services LLC, our accountants create detailed financial reports that are aimed at reducing potential shortfalls.
- 4. Closing the Books
At the end of every fiscal year, businesses need to close their accounts. Every decision can make a difference in the health of your business. Hiring a certified accountant can help minimize tax liability and maximize your bottom line.
- 5. Keeping Up With Taxation
Business taxes can get very complicated. And in order to stay abreast with the IRS’ changing tax rules, it’s helpful to have a pro on your side. We keep up with all changes to the tax system so you don’t have to—and so that you can feel good knowing you’re not accidentally breaking any tax laws.
- 6. Audits
In the event that your business gets audited by the IRS, you’ll wish you had an accountant managing your books from the beginning. Accountants manage all relevant documentation so that in the event of an audit, you’ll be in competent hands. Nothing to worry about!
- 7. Good Payroll
Letting an accountant to manage payroll is probably the best decision you can make for your business. Not paying enough or paying too much can, in the end, be a costly mistake. From exemptions to overtime, from employee classification to taxability, a registered accountant will make sure that every employee is getting exactly what they deserve.
Where Do I Find the Best Business Accounting Near Me?
Stanford Services LLC is a small business helping business owners get their finances in order. From payroll to bookkeeping to help with an upcoming audit, we’re the best choice for anyone living or working in the Las Vegas area.
Give us a call. We’re happy to set up an appointment for the near future. We’ll give you a detailed list of all the documents we’ll need, and ask you a few questions to get to know you and your business. For an estimate, or to set up a consultation, give us a call!