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Could Your Accountant Make Your Organization More Productive?

When the highly important American economist, Theodore Levitt, changed the "corporate purpose" to creating and maintaining customers, he welcomed a further meaning for salvia effects formation, transcending the old opinion which said buy salvia existed only to make money.Ultimately to be able to create and maintain customers, salvia divinorum owners should always believe "growth," even before the first penny is registered.Growth means creating unique products or services while looking to improve existing products or services.It means partnering with other companies or groups that could expose those products or services to greater industry segments.And it also means forging key business relationships that can help grow your small business into a business, and perhaps grow your medium-size business into a business.One of those key business relationships is the one you create with an, the one individual who may mean the difference between growth, stagnation or failure.One of the largest mistakes small business owners make isn't having a big enough perspective for their economic potential. 'Why do I want an now?I am getting along just fine without one,' many of them think.It is at the start-up phase of a where an can offer the most valuable advice and service.Most business owners aren't smart when it comes to bookkeeping.An accountant has the particular knowledge to set-up the chart of accounts for recording transactions, which will later be organized into financial statements that will tell the tale of your strategic success or failure.A good accountant can guide you through monthly financial statements, helping you understand what the numbers imply, and how to use them to make strategic decisions.And what about having to decide how your business will be set-up?After visiting with another important business connection, your lawyer, an accountant can describe the advantages and disadvantages of developing a single proprietorship, C Corporation or S Corporation relative to your situation.Do you know what you can take and what you cannot?An accountant is there if you have concerns about what business expenses are deductible.You need to increase all deductions that you are entitled, while avoiding penalties for deducting expenses that you're not entitled.While deductions are exceptionally important for businesses, it is also a difficult process as the rules and regulations continuously modify, often various by state.Benjamin Franklin said, "In this world nothing can be said to be certain, except death and taxes."Tax issues have certainly been the death of many start-up businesses.Technical conditions such as declaring W2s and 1099 forms have caused businesses thousands of dollars in penalties.A good accountant will know what taxes to pay and when to send out the forms.In the case of 1099s, he will advise you if these individuals are truly independent contractors, or should be listed as employees.Making an error here could result in hefty penalties, possibly severe a small business.What is critical is that business owners truly understand the importance of building a with an, instead of just thinking, 'Okay, I will get one because I suppose I have to.'This is where business owners skip it.They should be thinking about this relationship as they'd any strategic planning issue.Accountants have the capacity to directly affect your business success, or its failure.Good accountants will have knowledge of the industry you're in and advise a of action you may not have thought of, since they may have experience dealing with comparable situations.The relationship with your accountant is therefore important that when your business stumbles, your accountant will be there to help place it back on track.A good accountant saves you money by providing specialist and regular advice, which often translates into business growth.Remember, it is not enough to just make money.It is about continuously creating that new customer and keeping on to her.Oftentimes when a business owner is trying to break through that next level of revenue stream, an accountant knows just what to do and can guide a away from any potholes.They can reveal their success of knowledge as in the case of knowing what lending organizations are more likely to give to a business model.What if you are looking for investments in your business?Do you just grab the yellow pages, walk to the regional bank or do you look for someone who knows how to maneuver within this space, and can offer critical, time- and money-saving advice?For case, if you own an technology business, your accountant could advise you of which venture capital firms invest in Internet technology business models; you're not wasting time looking out venture organizations that are more open to lending to brick-and-mortar businesses.Most of the time, this type of data only can be attained through having the right accounting relationship.The right accountant may actually have direct connections in the very companies that will help grow your business.There are a variety of ways to discover the right accountant for your business.You can question a business owner who you regard, get advice from an existing business relationship, such as your lawyer, or move through the yellow pages.Business owners should understand the risks if they choose to take this route.Using the accountant from a respected business owner may not be the right accountant for your particular business needs.A lawyer's expertise is"law."While lawyers may certainly know accountants, they may not know which one is right for you.And using the yellow pages may be tantamount to playing the lottery if you are looking for a perfect match.Searching this approach requires time, and if the accountant is not the right one, it'll also cost you money.At the end of the morning, whether business owners decide to use a referral service or slog through the yellow pages, obtaining the right accountant may be the answer to creating that new customer and true growth and success.
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