The Reasons Why Entrepreneurs Need a CPA:
When entrepreneurs dream about owning their own business, they usually do not think about debits and credits, payroll taxes, bookkeeping, and taxes. These activities get in the way of other important items like product development, sales, and customer service. The goal of a qualified CPA who works with entrepreneurs is not only to keep you out of trouble with the IRS, but to help you achieve your business and personal financial goals by worrying about the things you do not want to think about, so you can do the things you love.
Evan Hutcheson, CPA, LLC focuses on the entrepreneurial enterprise, supporting innovators as they face the hurdles of owning a business. As a successful entrepreneur, you must continually strive to perfect your business model and adapt to change as it is happening. Entrepreneurs often struggle to secure growth because they have run into financial trouble. A CPA can steer you in the right financial direction so that you can focus on turning great ideas into marketable products and services without hitting a wall.
Retaining a CPA for your entrepreneurial enterprise will increase the likelihood that you will profit and flourish. A big mistake of many entrepreneurs is mistaking profit for growth. You need to protect yourself from bad purchase decisions that will have a negative effect on your bottom line.
Entrepreneurs also tend to make decisions using their instincts, which is a great trait in many ways. Entrepreneurs tend to exude confidence and decisiveness. But you need a partner that will help you see the long term, making decisions based off of financial information. The role of your CPA should not only be to prepare your taxes, but also to help you gather accurate data and make informed decisions. Once your CPA gathers information, you should meet with him or her to make sure that it you understand what the financials mean. This way, the CPA can create strategic financial plans that can be implemented you with no confusions.