As a small business owner, it’s tough to keep so many balls up in the air. However, we sometimes cut an expense that ends up costing us much more. In other words, we are penny wise and pound foolish.
In the case of small business accounting and tax matters, small business owners in South Florida would be far better off finding an accountant the helps them make better informed business decisions and saves them from paying too much in taxes. That’s right, small business owners often pay more in taxes than they are legally obligated to but never realize it.
The reality is that the IRS is not obligated to inform you if you overpaid taxes. Their primary goal is revenue generation so if you overpay, it’s like a tip.
When to Hire an Outside Accounting Firm?
If your business is projected to have profits in excess of $50,000 over the next twelve month cycle, it’s probably time hire an outside CPA Firm to handle the following functions:
• Guidance on corporate structure
• Reviewing your bookkeeping (oversight and corrections)
• Proactive tax planning and preparation
• Coaching advice and consulting
Often, the right CPA will save you time ensuring your books are correct and even more on taxes when done proactively.
In addition to working with nearly all types of businesses, some CPA Firms have additional expertise in certain industries or providing boutique services. At Canner Brody and Yan, we work with most types of businesses but have additional expertise in international taxation, high net worth accounting, real estate accounting and forensic accounting. And given the diversity of South Florida, we are fluent in English, Spanish and Chinese.
Why Canner Brody and Yan CPAs?
Canner Brody and Yan has been operating for over 65 years as a Miami CPA Firm. Very few CPA firms in South Florida have been in existence this long.
Often, we are able to save small and medium sized businesses more in taxes than our overall fee. That’s right, our proactive tax planning is designed to save most (not all) business owners more in taxes than the price of our services.
To learn more, simply call 305-231-2150 and ask for Andrew Brody.