The number one reason small businesses hire accountants or outsource their bookkeeping for tax season is because accountants can save you money. The tax system is complex, and it takes time and experience for someone to learn how it works. When you hire a tax professional, you’re getting someone who has helped out plenty of businesses like yours with their taxes. They know how it’s done and they know how to minimize your liability and maximize your possible refund.
According to a survey of roughly 400 small businesses in the United States, 52% believed that they overpay in taxes each year. But according to that same survey, accountants are the most important professionals for small businesses – ahead of attorneys – and an average 67% of small businesses are satisfied or very satisfied with their accountants. While you might be able to get your taxes done on your own without any help, you might never know how much money you’re leaving on the table. An accountant will have the knowledge and expertise to ensure you’re not overpaying, and that you’re claiming all the deductions you deserve.