When you own your own small business, you have numerous tasks that demand your attention each day. You are so busy that you cannot find the time to deal with your business's finances. However, the finances for your business underlie whether or not you can keep your doors open to the public.

To ensure that you have enough money on hand and can pay your taxes, you can outsource your financial bookwork to a CPA. These tasks are some that experienced certified public accountants can take care of for small business owners like you.

Completing Your Income Taxes

The IRS requires small business owners like you to file your taxes every quarter. This means that you must complete four sets of income tax returns every year. You also must send in payments for your quarterly taxes four times each year to avoid incurring expensive fines and penalties.

Instead of taking time out of your busy schedule to fill out your taxes, you can hire one of the professional certified public accountants to complete and submit your tax returns. They can compile your receipts, figure out your payroll taxes, and make the necessary deductions. Your CPA can get the returns mailed in or electronically filed for you and also tell you how much that you owe each quarter.

Representing You in an Audit

Another important task that a CPA can take care of for you involves representing you in an IRS audit. If the IRS audits your business, you need to know that you will get a fair hearing. You also need to know that the IRS will consider your returns and receipts fairly and avoid fining you too much money.

The CPA that you hire has the professional training and experience to represent you in an audit. They understand current IRS laws and also understands the financial intricacies often involved with an audit. Your CPA will ensure that your case is heard fairly and that you avoid being fined or penalized unfairly.

These important tasks are some that certified public accountants can take care of for small business owners. Yours can file your taxes for you every three months and inform you about how much that you owe. Your CPA can also represent you if the IRS audits you. You avoid having to represent yourself in the IRS audit and can get professional advice and guidance.

For more information, reach out to a local CPA, like John M Vlasac & Company.