Questions You Should Ask Your Accountant as a Startup Business

Proper accounting is the foundation of any successful business. As an entrepreneur, you want more than anything to set your new business up for success, and this is why working with an accounting professional is so important. As you get started, here are a few questions you should ask your accountant:

• What is the difference between a bookkeeper, an accountant and a CPA?
• What kind of records should I keep to support my business’ finances?
• What kind of changes should I make to my existing accounting framework?
• How can I prepare my business for tax season, and what kinds of expenses can I deduct?
• How can I stay on top of my cash flow and manage it better?
• How can an accountant help me keep up with my competitors and grow my business ?
• Can an accountant help me identify opportunities and trends in my operations or in my industry?

As you start your business, a few other key questions you should ask your accountant include how you should structure your business, whether your employees qualify as actual employees or contractors, what kind of financing options are available to you, and what kind of tax obligations your specific business has.

You should revisit this list of questions from time to time to make sure your business remains on track. Doing so can help you solidify your business’ financial success and make informed decisions as your business grows and expands over the years.

Of course, the accountant you hire also matters. Partner with us at JAYA Financial for sound, reliable, and effective financial advice and guidance as you get your business off the ground and work towards profitability.