Hiring a certified public accountant (CPA) is often a great choice for companies. It can be even more beneficial, for some, to hire someone remotely. By removing location requirements, you can open up your search to many more talented applicants. If you haven’t considered it before, here are a few ways your business might benefit from hiring a remote CPA.
Benefits of Hiring A Remote CPA
Save Time and Money
Financial matters are best handled by professionals. Chances are, if you try to do-it-yourself, you will spend more in the long-run. For that reason, it is a no-brainer to hire a CPA for your team. Hiring someone remote for the position will help you save even more. In fact, studies have shown that working from home, or a remote workplace, has actually helped increase productivity overall.
Your Taxes Will Be Properly Filed
Another perk of hiring a CPA for your team is that your taxes will always be properly filed. Tax season can be stressful for any business, but having a remote CPA can help you stay on top of things. You can request they have quarterly tax documents prepared and they will be able to help keep the company on track with the IRS.
Support for Audits
If your business is audited by the IRS for any reason, your CPA is the one that will be the “face of the company” dealing with the matter. They will be who represents your business and ensures you aren’t violating any tax laws. Having a CPA in place before an audit arises can help you be prepared. Your CPA will have a proper audit trail for the IRS to review.
Making the Right Financial Decisions
Beyond tax season, hiring a remote CPA will help you make the right financial decisions all the time. For instance, if you have been considering taking out a loan, a CPA can advise you on whether or not that would be a good call. Additionally, if you do find you need a loan, they can help identify which loans and rates are best for your organization.
Financial Statements and Checkups
Another great thing your CPA will be able to do is to create regular financial statements and perform checkups from time to time. Many businesses underestimate the importance of having proper financial statements. However, it can help you get loans, funding, and stay on track. A more in-depth audit for financial statements may even require your CPA to take a look at inventory and break down numbers.
Several times throughout the year, CPAs will use financial statements and information to perform a checkup. This analysis will provide you will a view of your company’s financial health, which can be extremely important.
A CPA Will Have Unique Knowledge
Hiring someone with unique and specific knowledge like a CPA is never a bad move. That specialized knowledge will help them keep everything up-to-date and on track. Not only do they have in-depth tax knowledge, but they are trusted, certified professionals. Every accountant is not a CPA. They are required to take an exam as well as continue their education on new policies to maintain their licensure.
Help Evaluate Risks
CPAs can also help your company evaluate risks. They are trained to take a look at the “big picture” view of the company’s finances before making decisions. It is helpful if your CPA has been active in your industry for a while too. They may even be able to provide tips on how to stay afloat during economic downturns.
Look at Areas For Growth
Believe it or not, CPAs play a huge role in assisting growth in a company. They can help keep an eye on payroll, benefits, taxes, and other financial matters to ensure the growth is sustainable. When looking at the numbers, they can also help you decide when is the best time to introduce new products to the market or hire new employees.
Stay Up-to-Date on New Laws
Another great reason your company needs to hire a remote CPA is that they will help you stay up-to-date on the new laws. When it comes to taxes, you don’t want to make any mistakes. Tax codes are complicated, but CPAs know them like the back of their hand. This knowledge can help you find ways to limit your tax liability and free up some cash flow.
A Bigger Talent Pool
By opening yourself up to remote CPA applications, you will inevitably give yourself more access to different talent. When you limit yourself to the individuals in the area, you may be missing out on the perfect candidate.
Need Help Finding Top CPA Talent?
If you are thinking about searching for a remote CPA for your business, consider working with a staffing firm. The professionals at Burnett Specialists can help identify your needs and align you with the perfect candidate. Get more information about our services here.