Individuals and business owners have limited the role of an accountant in Lake Nona, FL as someone who compiles your financial statements and reports and sends them to the IRS at tax time. Due to this idea, they stay in contact with their accountants only for the few tiresome weeks proceeding to the income tax return deadline, and then lose touch all year.
In actuality, your accountant in Lake Nona, FL does much more than helping with the documentation and preparation of the yearly tax return and those business owners who have limited contact with their accountants in are in fact missing out on a huge chunk of additional services that accountant in Lake Nona, FL offer for your business.
Following is a checklist, which you should consider discussing with your accountant in Lake Nona, FL about which will in turn help you target and achieve your business goals much efficiently and effectively.
The end goal for your business
It greatly helps to know what the destination is, before starting out on a trip. Similarly, business owners should put these questions forward regarding their business and plans for the future;
- What is the ultimate goal of my business?
- Is a merger with a bigger company planned?
- Do I want to turn it into the family business?
Each case scenario is different, and therefore requires approaches that address them separately. Take for example the scenario of keeping the business in the family. While doing this might favor slow and steady growth, but the chances for a fast growth is also true if the intention is to sell. Your accountant in Lake Nona, FL will guide you keeping your case scenarios into account, and derive the best possible outcome.
The level of growth for your business
People don’t necessarily want to grow and expand their business into an international chain, with locations spread out in the world. Many businesses start from homes, and they don’t have overly large ambitions regarding growth and expansion because of a number of factors. Small and unknown business, starting with a modest budget might charge less for their services and products in the beginning, or take on fewer clients. Accountants in Lake Nona, FL can therefore advise you how and where to spend on your business so that it can flourish at the pace of your goals.
The role you want in your business
This should be discussed with your accountant in Lake Nona, FL at the different stages your life, and the business’s. As time goes on, so does the needs and requirements of the business, which are fulfilled by the various responsibilities the business owner takes and performs in the duration. You will need to discuss changes to the business, when nearing retirement age for example and the best possible plan of action according to the situation, and your requirements.
Business owners should have a good relationship with their accountants all year round, for their own benefit because of various more reasons than explained above.
If you need more information about our Lake Nona, FL 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, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland 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 number, incorporations, and non profit 501c3 tax exempt.