According to the U.S. Small Business Association, small businesses, 23 million strong, account for over 54% of all sales in the United States. Even with the incredibly important role small businesses play in the American economy, the fact is that many of them fail before they are ever given the chance to get started. By their fourth year, more than 50% of American start-ups close their doors, according to Statistic Brain. One of the main issues, as the NY Times points out, is poor financial planning.
Of course, it is not just small businesses that need better financial planning. As the World Bank’s current statistics show, there are 313.9 million people in the United States. That number is broken down into approximately 114 million separate households, families, of 2.61 people, according to the U.S. Census Bureau. Just like small businesses, these units need financial planning that can help them navigate the tricky economic waters of the current American environment. Certified public accountants may be just the thing both private individuals and small businesses are looking for.
What is a CPA, and What Are CPA Certification Requirements?
In short, a certified public accountant is the statutory title given to qualified accountants in the United States. However, becoming a CPA is much more complex than taking a test and getting a title. Indeed, the majority of states require accountants to have significant financial experience before they can become a small business CPA. Among these states, CPA certification most commonly requires at least a four year college program. As you can see, CPAs are well educated, competent individuals who know how to handle all sorts of financial issues thanks to rigorous CPA requirements.
How Can a CPA Help Your Small Business or Family?
- Save Time
- Risk Analysis for Improved Investments
- Tax Navigation
For many people, the time saved by using a small business CPA is reason enough to contract them. Consider, small business CPAs are trained to quickly and accurately fill out and file paperwork, while paying close attention to financial planning and important aspects of their clients’ financial lives.
One of the most useful skills offered by small business CPAs is their ability to analyze your investment portfolio. Doing so, they can identify high risk investments before they significantly decrease in value. In other words, small business CPAs help their clients to make more informed, more successful investments than they may on their own.
Navigating the American tax code can be a headache for any individual or business. Many Americans, families and businessmen, are unaware of all the tax deductions they may be eligible for. A reputable small business CPA knows all about tax code and how to apply it to save you money.
How to Find a Small Business CPA
Now that you know how a CPA can help, you need to find one that fits your needs. One of the best ways to find a great small business CPA is through the personal recommendations of friends and family. However, failing that, you can look to the associations in your state that are created specifically to pool together qualified and experienced CPAs. You already know what a CPA can do for your family and business, so find one today. Read more here: bestcpareno.com