Whether you’re a busy small business owner or in charge of the household budget, staying on top of cash flow helps prevent costly surprises. There may come a time when your financial situation will become too complicated and overwhelming to handle. An experienced accountant is a resource that will keep you on track. Below are several reasons why hiring one can pay off.

4 Perks of Hiring a Personal Accountant

1. Offers Debt Management

You may dream of owning a home but are unsure where to begin. A personal accountant will discuss your goals, the desired time frame for paying off balances, and design a realistic debt management plan. If your mission is to eliminate credit card debt and car loans, you’ll receive customized strategies for doing so.

2. Provides Expert Tax Help

Real estate property owners, independent contractors, and business owners are among those groups that have more complex tax return filings. From making estimated tax payments to meeting payroll tax deadlines, the requirements are extensive. The best accountants have comprehensive tax preparation experience and will complete your personal or business tax returns accurately, on time, and in full compliance. Professional accountants will also identify deductions and credits that could put more money in your pocket. 

3. Oversees Payroll Processing

For many small business owners, payroll processing is the task they look forward to doing the least. However, it remains a top priority for ensuring employees and clients are paid on time. Instead of putting aside considerable time each pay period to process paychecks, an accountant can take on the responsibility. They can track wages, vacation pay, and retirement benefits, as well as calculate payroll taxes for your employees.

4. Creates Budget Relief

If managing your household budget has become a chore, an accountant will streamline the task. By reviewing income, bills, and outstanding debt, these professionals will create a plan for identifying where you’re spending and recommend solutions to curb overspending. The budget overhaul may also include steps for long-term financial goals such as starting a child’s college fund or saving for retirement.

Hiring a personal accountant is not only for the wealthy. For 15 years, STL Tax has provided expert and affordable service to individuals and small business owners throughout St. Louis, MO, and the surrounding areas. The team of CPAs has extensive knowledge in everything from payroll processing and bookkeeping to tax return preparation. To learn more about how the agency can help you, call (314) 645-1614. Visit the website for information on their services.