It is estimated that 80 percent of American small businesses shut down within the first year. Usually, it is caused by poor financial management.

Most people take their cars to a mechanic to help service it. A professional mechanic will ensure the vehicle is in good condition and fix any potential problems. It is the same case with small businesses. They need an accountant to handle their finances for them. Accountants are known to handle more tasks than file taxes. They can do a full evaluation of your finances and design a finance projection for the entire year to keep the business healthy and in operation.

It might feel intimidating to allow an accountant to understand how your business is operating, but if you've encountered problems in the past, it is crucial to hire an account. Working with a professional accountant will make work more comfortable as well as allow you to focus on your objectives. Also, you might be successful in the long-term. Now that you know that, here are five crucial reasons why you should hire accountants from Page Kirk LLP

Makes sure you have your deductions

When it comes to filing taxes, several business owners are always anxious thinking about how they can get their deductions done. Yet, it's still too late to do anything that might have an impact on the deductions when the year ends.

But a professional accountant can assist you by identifying potential deductions within the year and advise what to do for the year-end deductions. Most business owners don't include critical reports like petty cash, office rent, and depreciation. It's essential to let an accountant handle your deductions to avoid more trouble.

An Accountant Will Handle the Audit

Of course, most business owners would want to avoid audits. Sadly, several people believe that an accountant can fix problems after they've happened.

The most vital thing to know is that an audit can be avoided if you seek an accountant to help you throughout the year. A business can be audited because of several things: too many write-offs, a lot of corporate social responsibility events and mistakes on tax forms.

Accountants from Page Kirk LLP can be your long-term partner who helps your business stay in operations.

Saves Time

Most entrepreneurs believe that hiring an accountant is too expensive and that it is okay not to hire one.

But when you think about the valuable time and money you use attempting to manage your finances, then the advantages of hiring a professional accountant outweighs the price. An accountant will help you avoid simple errors made during financial reporting and potential losses from poor decision making.

As a business owner, you should be solely focusing on operating your business. That's why it's essential to hire an accountant and use him/her as a financial advisor. Your accountant will help you maintain your business as well as make it successful.

Makes Quick Decisions

When it comes to making big decisions in a company, most business owners always find it tough spending on certain things. Some want to know how to calculate the potential outcome of hiring more workers or splurging on office utilities.

Hiring an accountant as a financial advisor to assist you with budgeting and decision making will help you overcome any challenges that might occur.

If you want to make the best decisions, you should collaborate with your accountant to get the best results and avoid mistakes.

Also, take advantage of the partnership with your accountant. It will help make sound decisions when they're needed.

Prepares a Strategy

Ultimately an accountant is beneficial to your business because he/she will give you the right advice on how to strategize for the future. The accountant can analyze past reports and assess the company and understand how the company is performing. With that vital information, you will realize when is the right time to invest, if you need more employees, and more.

A professional accountant will advise you well for your business to remain competitive and stable.

Most times, you are often working on your business, and you don't have time to analyze how you've been performing. But an accountant can analyze the financial books and objectively advise you on what to do to make your business stay in operation for a long time. It's essential to work as a team in a company. As the saying goes, if you want to go fast, go alone, but if you're going to go far, go together. Hiring a professional accountant will help you succeed.