How CPAs Can Help Small Business Owners

By Roxanne Coffelt |

Business Evaluation Services Indiana


This is a guest post by Taylor and Noel.  Image via Unsplash


Most entrepreneurs and small business owners don’t realize how much their CPA—Certified Public Accountant—can really do for them. This is especially true if you don’t have the proper bookkeeping experience. Having said that, the “learning as you go” way can do more harm than good to your business. So, before you decide to take on the role of accountant for your own business, you should probably learn more about how a CPA can help you from start to finish.


Here’s an overview of what a CPA can help you with throughout each stage of your business, brought to you by Roxanne Coffelt CPA LLC.



When you start a new business, there’s a lot you don’t even know that you should know. For example, whether or not you should incorporate and how to do it.


A CPA can help you set up a strong foundation for guaranteed success by doing the following:


  • Helping you determine the best business structure for your endeavor —i.e., sole proprietorship, LLC, partnership, etc.
  • Giving you a financial analysis of your business plan.
  • Advising you on the various accounting software that flexes with your needs.
  • Helping you hire a qualified bookkeeper.
  • Ensuring that your accounting procedures are compliant with government regulations and requirements.
  • Offering advice on the best way to track your daily, monthly, and yearly expenses.


Roxanne Coffelt CPA LLC can also help you understand the importance of keeping your business and personal expenses separate.



Once your business is running, it’s essential to monitor and maintain the accounting system that your CPA set up for you. Additionally, your CPA can take on other responsibilities, including:


  • Ensuring any of your independent contractors are classified appropriately with the IRS
  • Making sure you understand your financial statements.
  • Overseeing your payroll.
  • Advising you on estimated quarterly tax payments.
  • Closing out your books and creating end-of-the-year financial reports as well as preparing your tax paperwork for the IRS.


Your CPA can do as much or as little as you need them to in terms of keeping track of your daily business operations, including making sure you have an understanding of all of the above.



When it comes time to grow your business, your CPA can play a crucial role in that growth by providing you insight as to how to manage the process.


This would include:


  • Helping you determine which areas are ready for growth based on their cash flow patterns, inventory management, financing, etc.
  • Advise you on property and equipment leasing and purchases
  • Keep you from getting audited by the IRS (or guiding you through an audit, if necessary)
  • Benchmark your business to see how it compares to its peers in the same industry.
  • Assist you on the sale of your business should you decide to sell


These are just some of the ways a CPA can help you manage your small business from start to finish. You can choose to hire a CPA for certain tasks or to handle all of your financial activity. It all depends on your experience, knowledge, and what you can afford.

Lastly, recognizing when you need to enlist the help of a professional to maintain the financial health of your business is arguably the most important step.