What Business Owners Should Consider When Looking for Tax Accounting Firms in Rockdale

Many new entrepreneurs and business owners in Rockdale and surrounding areas recoil at the thought of preparing their tax returns and find themselves looking for a tax accountant or tax advisor. To the uninitiated, finding an accounting firm can be a daunting task, but it doesn’t have to be. There are accounting firms everywhere, and hiring the right one is critical to ensure that your business complies with the relevant tax rules.

In today’s post, we’ve gathered the most important things to consider when looking for tax accounting firms in Rockdale. Read on to learn how to make your search easier.

Their accountants have a CPA designation

Many people are confused between CPAs and accountants. To clarify, CPAs are accountants. However, not all accountants are certified.

What You Should Know

Fully-fledged certified public accountants are on a different level than niche professionals who work at bookkeeping firms or tax preparation firms. Certified public accountants have gone through several years of education. They have also taken an exam to claim the highly-sought certification as CPA.

When looking for tax accountants in Rockdale, choose to work with certified accountants. They have the skills to provide multi-faceted services and advice. In short, if you wish to work with real industry experts, make sure that the professionals working on your account have their licenses.

They have a varied range of specialties and experience

All CPAs handle financial accounting and reporting. You want to work with CPAs who are uniquely qualified to drive success for your business and can ensure that your business meets legal requirements. That said, make sure that the accounting firm you’re looking to get on board has proven experience working with businesses of your size and niche.

What You Should Know

There are industry-specific challenges that arise from managing the finances of a particular business. For instance, tech start-ups and software companies often look for tax accounting firms with a background working with companies of their size and in their industry. If you work with tax agents and accountants who specialise in your business, you can have the confidence that they know the competitive landscape you operate in and the unique financial challenges that your business face.

Use their knowledge to your advantage. They are already familiar with working valuations and tax structures, so you can effectively reduce the tax burden on your business. So, when looking for a tax accounting firm, choose the one whose accountants have cut their teeth working in the same environment as your business.

Tax accounting firms in Rockdale usually offer the following:

Transactional Services

  • Accounting Software Implementation
  • Bank Reconciliations
  • Bill Payments
  • Customer and Client Invoicing
  • GAAP Standard Implementation
  • Journal Entry Processing
  • Monthly and Quarterly Close
  • Tax Strategy
  • Technical Accounting

Financial Communications and Corporate Workouts

  • Accounts Payable
  • Accounts Receivable
  • Internal Communication
  • Financial Statements
  • Internal Communication
  • Audit Preparation
  • Forensic Accounting
  • Internal Controls
  • Merger and Acquisition Services
  • Revenue Recognition

They have a strong grasp of the law and industry trends related to taxation

Experienced accountants will do more than just file tax returns. They ensure that your business’ tax burden is reduced as much as possible and will be able to position your business on the path of success. Find a firm with a proven track record in preparing tax returns and reports and maintaining a company’s tax database.

You also want to work with an experienced firm that can help you comply with federal, state and local tax regulations and also keep track of shifting industry trends and changes related to tax laws. When looking for tax accountants and agents, make sure that they have extensive experience in evaluating tax regulations, preparing quarterly and annual tax reports, and implementing policies to reduce the tax burden.

They have a background in international accounting

At some point, a business will have to expand into new markets. Start-ups and firms looking to expand their market can benefit from working with accountants who have experience working with international entities. CPAs with a strong background in international accounting can assist in preparing and reviewing monthly journal entries, BS/PL flux analyses for international entities, and balance sheet reconciliations.

They can also assist in the monthly, quarterly, and annual close process of foreign subsidiaries and other files related to international audits. From reconciling intercompany balances and ensuring intercompany agreement terms are followed to supporting the on-boarding of accounting providers in foreign jurisdictions, they can assist businesses in all this with their international accounting background.

They can adapt to rapidly changing needs

A rapidly growing business will have changing needs. It’s possible that it has financial or process-related hurdles that are yet to be identified, like financial and accounting systems that need upgrading. Suppose a business initially only has an interim accounting capacity. In that case, CPAs can guide it through a more streamlined process in specifying and managing the implementation of a robust system that could accommodate its operations.

They can also supervise in managing the development of the internal finance and control staff. When it comes to installing annual budgeting and periodic forecasting processes and planning or managing initial and subsequent annual audits, business owners can trust that CPAs have got their business covered. That is why you must hire an accounting firm that employs consultants and accountants at all levels of experience and expertise.

Other Things to Consider

Before you start looking for an accountant in your area, get clear on what your needs are. What services do you need your CPA to handle for you? Is there a particular level of expertise or experience that will be required?

Once you’ve identified your specific needs, you can then narrow down your options. You might also want to find an accountant who is familiar with your accounting software. Keep these things in mind when looking for tax accounting firms in Rockdale.

For Your Taxation and Accounting Needs

Work with experienced CPAs and tax agents in Rockdale to ensure that your business meets all legal requirements. For all your mortgage broking, taxation, and accounting needs, trust the experts at FinKonsel. Get in touch with us to discuss how our team can help your business.