Tax season may be over, but there are still some key points to talk to your CPA about as you are planning for the rest of the year.
Your CPA files your taxes, however, they should be doing much more than that.
Here are 3 things that you should talk to your CPA about.
Talk to Your CPA About Bookkeeping
Your CPA should be looking at your bookkeeping. They can easily notice if things aren’t on track or should be done differently. And they should be speaking up and letting you know what to do to fix it.
However, if they don’t bring it up, be proactive. Ask if there is anything that caught their attention. Is there anything they would recommend you do differently?
This is a great way to get another pair of eyes on your books and have someone offer some guidance.
Ask Them If There Are Any Other Red Flags In Your Business
Maybe they think your expenses are too low, you aren’t paying yourself enough or your spending is too high in a particular category.
It’s definitely worth you asking and having that conversation with them. That way you can make changes if they do indeed see some red flags.
Talk To Your CPA About Decreasing Your Taxes
There are legal, ethical ways to decrease your tax liability. It’s likely your CPA knows the tax code to make it happen.
Ask your CPA if they see any opportunities for you to do so. This may require an additional service like tax planning or tax strategy but it would be worth it to you as the business owner. Especially if utilizing those services means substantial tax savings!
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