Experienced Business Insurance Agency Weighs In
When you first set out on your own as a business owner, you grew used to handling all the tasks that came with the territory. On any given day, you may wear several hats, such as boss, purchasing agent, machine operator, human resources manager, and bookkeeper. This may have served its purpose when you were much smaller, but now that things are picking up, your time may be better spent elsewhere, while other tasks are delegated. The question is this, when is it time to transfer your marketing, operations management, or accounting efforts?
Knowing when to bring in others who are better skilled at those tasks and areas you are not, takes a keen sense of yourself and your abilities. For example, finding the best general liability policy is best left to a responsible and experienced business insurance agency such as the Business Insurance Center. Our nationwide team of brokers works with many industries and reputable companies to find our clients what they need to protect their enterprises.
3 Indications that You May Be Ready to Hire an Accountant
It is sometimes hard to know when to let someone else step in and take over some of your duties. Handling your company’s money is one area that you should not wait to delegate until it’s too late. With tax season just around the corner, you may want to consider if you noticed any of these signs that it is time to hire a CPA:
- You don’t enjoy bookkeeping, or it keeps you away from other, more critical tasks. Not everyone is cut out to be a bookkeeper, and even fewer love working with numbers. If you value your time at $100 per hour and you are spending 5 hours on keeping your books, how are you replacing that $500 per week? What if you are spending 20 hours a week updating receipts and writing checks? That takes you away from your other business dealings. You may be losing more money than you are saving by not hiring a CPA.
- You are looking for loans, but you need professional financial reporting. Financial institutions want to make sure you are a worthwhile investment. Throwing together your financial records on a sheet of paper will not win you any points with your bank. They will want to see your enterprise’s economic history and any additional relevant information. Your accountant can do that for you.
- Uncle Sam is getting ready to audit. Tax audits can make even the most relaxed individual break into sweat. You face loads of paperwork and spend much time communicating with the IRS. Your CPA can help you get organized to answer the requests of the agents. If required, they may even talk directly to the Internal Revenue Service, which leaves you free to keep day-to-day operations going.
Ensure Your Company’s Future with an Experienced CPA and Appropriate Business Insurance
Alleviate some of your daily pressures when you seek out those who can help in areas you are weak. Hiring an accountant is one step; contacting a knowledgeable business insurance agency is another step. The brokers at the Business Insurance Center are ready to assist you in meeting your general liability, loss of income, or cyber risk insurance needs. It’s time to get the support you deserve.
Request a quote online or call (888)-585-0511 and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. We serve the entire United States.