Most people want to own big accounting firms in Orlando, but what they fail to understand is that there are more growth opportunities and flexibility in owning a small firm rather than a large accounting firm Orlando. Small accounting firms Orlando do not have many resources at hand but they also allow the owners to offer customized financial services to their clients. Another advantage in owning a small firm is that you can easily define the structure of your firm and enhance and customize it according to your needs. Plus it enables you to offer specialized services to your clients, which is not possible if you own a large firm because in large firms the circle of your clients is vast and you cannot offer customized services to each and every one of them.
Providing customized services to clients makes them want to come back to you again. It makes clients feel that they are being dealt by professionals who know what they are doing and therefore they want to continue doing business with the same firm. Small accounting firms Orlando have real advantage in recruiting and retaining customer through their more customized services. Small firms are not in the big leagues, therefore they are under no pressure to change their practices to compete with the larger firms. This allows them to offer such services to their clients that attract loyal customers and professional accountants Kissimmee.
Another advantage of owning a small firm is that it gives you the liberty to define the structure of your company. The best structure is that of a corporation, that makes your firm a separate legal entity. This means that any law suit or debt on your company is to be paid off by the company itself and not by the owner.
Corporations have other benefits too that are as follows:
- Corporations are taxed at a lower rate than partnership or sole proprietorship.
- It is easier to raise capital for corporations by issuing shares and bonds. This is not possible in other types of business structures such as sole proprietorship or partnership.
- Corporations are easy to value if and when you plan to sale your firm. Because unlike partnership and sole proprietorship, the value of the corporation is based only on the business and not on the person owning the business.
Being a smaller firm will allow you to hire accountants Orlando and CPAs that are professional in approach and loyal to your company. This is because the level of stress in a smaller accounting firm Orlando is more manageable than that in a large firm. This will allow your accountants Kissimmee to work more efficiently in keeping your client’s records up-to-date, a balance between their profit and losses, and to analyze the trends in their finance that will help your clients make better decisions in the future in order to keep their business growing.
You can also hire CPAs and provide tax related services, so that your clients will find the solution of all their financial problems under one roof. Your employed CPA can help your clients file tax returns and help them in minimizing their taxes wherever legally possible.
These are just few of the many advantages that you can avail by owning a small accounting firm Orlando and offer accounting and financing services to your clients.
If you need more information about our accounting and tax services, please contact us at 407-502-2400. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.