Small Business CPA in the Niagara Region
If you have a small business in the Niagara Region, you’ll need the help of a good local Chartered Professional
Accountant (CPA). Some business owners feel that because they are good with finances or because they have a
bookkeeper, they don’t need to maintain an on-going relationship with a CPA. However, a good Chartered Professional
Accountant can be invaluable to the health of a small business and can save your company significant amounts of
money in the long run. Whether you run a small unincorporated enterprise or a publicly traded company, hiring a CPA
can be one of the best investments that you’ll ever make.
Why You Need a Chartered Professional Accountant
While a skilled bookkeeper can make sure that your day-to-day finances are in good order, can keep track of
inventory, accounts payable, payroll, and other aspects of your company, a Chartered Professional Accountant (CPA)
helps you to look at the big picture. An experienced CPA can assess your business with an objective eye and give you
feedback. He or she will help you to evaluate where your business is at, but also where you are going, and can work
with you to draw up a practical business plan for the future.
Another area where a CPA is often invaluable is taxation. Is your business missing opportunities when filing taxes?
A good Chartered Professional Accountant will be familiar with the complex world of tax law, and can usually help
you to find ways to pay less tax. A good CPA can also help you with tax questions you may have; if you have accessed
federal wage subsidies during the COVID-19 lockdown, your CPA can help you understand how to claim them. For
example, your CPA can also represent your interests to the Canada Revenue Agency (CRA).
A CPA can also examine and make recommendations about specific areas of concern, which might include inventory
control, payroll taxes, or cash flow problems. And if your organization is required to perform an audit or review
engagement, a CPA with credentials in the area of assurance can lead the team.
Choosing a CPA
Before hiring a Chartered Professional Accountant, decide what’s important to you. Having someone in the Niagara
area is an obvious advantage, but what else should you look for? Here are a few factors to consider:
- Local Firm. Look for an accounting firm that serves
businesses in St. Catharines, Niagara Region, Niagara Falls, Welland, Thorold, and Niagara-on-the-Lake.
- Experience. How long has the firm been in existence? Does their
staff have experience with other businesses in your sector?
- Services Offered. Does the accountant firm offer all of the
services that you need?
- Communication. How available is the CPA? Will you be able to
contact him or her when you need help? Will the CPA keep you in the loop about any changes to tax law or update
you with regard to issues?
- Compatibility. Is the firm a good match for your business? Do
they use the same type of technology that your business does? For example, does the accounting firm have similar
values to your business?
Managing all aspects of a small business can be tough. Set up a meeting today to learn more about what a
professional CPA in the Niagara Region can do for you.