5 Questions For A Prospective Small Business Accountant In NYC
A small business owner who seeks an accountant in NYC will have a number of important decisions to make over the life span of their company. However, a small business owner that has yet to hire an accountant to assist their NYC company is going to have a wide range of questions to ask along the way.
The interview process can be challenging and that is why we need to be asking the right questions of any prospective small business accountant in NYC that we are considering. Those who take the time to do the proper research have the chance to enjoy a much smoother process than those who do not.
1) What Records Do I Need To Be Keeping?
Keeping track of the proper business records is important and those who do not are not able to find out everything that they need to know. The best accountants in the NYC area are able to provide their clients with the tools that they need to keep the proper records. Revenue and operating expenses will always need to be tracked. Employee wages and any information regarding the sales and purchase of assets must be charted as well.
2) How Should The Business Be Structured?
All small businesses are not created equally and there are several different structures that need to be considered before we are able to find the one that is best for our needs. Sole proprietorship, partnership, corporation and LLC are the four structures that we have to choose from. The accountant that we select should be able to provide the proper information about each of these options and the assistance that they can provide.
3) What About Tax Season?
Tax season is a tough time of year that leaves a number of us wondering what went wrong and how we can fix. A top notch small business accountant in NYC is able to provide us with the tips and pointers that we need in order to sidestep these types of concerns once and for all. The accountant’s job is to make sure that we are able to get through tax season as quickly and painlessly as possible.
4) Can We Deduct Business Expenses?
Our tax returns allow us to deduct the necessary business expenses and when these returns are prepared by a professional small business accountant, we are able to deduct costs that we never even imagined possible. Claiming deductions on behalf of a small business can be tricky and that is why we need an experienced accountant at our disposal. They will be able to guide us past all of the typical pitfalls.
5) What Is Our Break Even Point?
This is a question that the average small business owner might be too afraid to ask. That does not make it any less crucial. Knowing when our total income will surpass our total expenses is pivotal to the long and short term future of a small business. There are several companies who are not aware of their break even point and the last thing that we should ever want is to become one of them.
Small Business Accountant Nyc