Do I need an Accountant? Find out why companies need a​​​​​​​

We know that starting a business in USA is not an easy task. We have come a long way in recent years, but there is still a long way to go. Even today, the entrepreneur is faced with bureaucratic procedures with public agencies and has to bear one of the most considerable tax burdens in the world. As if that were not enough, we continue to suffer from inflation and economic instability.

On the other hand, it is precisely in the face of challenging scenarios that great investment opportunities arise, especially for companies with an efficient accounting structure that differentiates them from their competitors. The figure of the Accountants on Site Cape Town, which for many years was seen as a privilege of large companies, is now increasingly in demand in the daily lives of small and micro-enterprises.

What is an accountant for?
The Accountant is a specialized and reliable professional usually in charge of calculating all taxes due to the Municipality, State, and Union. In addition, he also oversees compliance with tax obligations imposed by law, as well as the maintenance of accounting books. The Accountant may also be a  consultant concerning the company's cash flow, revenues, investments, and tax planning.

To consolidate the importance of accounting in the company, suppose that a product is sold and the buyer does not make the payment. The famous "call." According to the law, the company is not obliged to pay taxes related to this product. However, most micro and small entrepreneurs do not have an accounting structure capable of avoiding this and many other liabilities.

The law does not oblige any entrepreneur to have an accountant on his team, so his presence is not essential. Still, perhaps the most pertinent question would be: what do I have to gain from the presence of a  specialized professional or from hiring an accounting firm?

To answer this question, the administrator must analyze its current accounting structure and verify that it complies with all its tax obligations and the legal requirements for inspection by the Revenue. In addition, it must assess whether cash flow, income, and investments are being used to their fullest potential.

Hiring an  accounting professional or accounting firm  can help a lot in  the organized growth of the company  and in reducing business risks, see below what an accountant can do for an SME:

Open a business the right way.
To open a business, it is necessary to make some crucial decisions, such as the tax framework, the corporate type, the framework as ME/EPP, and other decisions related to the company. The Accountant can provide this advice so that your company operates regularly, with the lowest tax burden since its incorporation, reducing corporate risks.

Control taxes payable and carry out tax planning.
Knowing the dynamics of taxes, the Accountant will be able to control which taxes an SME must pay, when to pay, and, above all, carry out planning to make a  framework to minimize taxes.

Another way to lose money in a company is to make wrong tax choices. Here, specialized assistance makes all the difference.