5 Reasons to Use a CPA Firm 2024
Utilizing the services of a Certified Public Accountant (CPA) for a business of any size is a wise investment. From reducing expenses to minimizing tax benefits and ensuring compliance, CPAs can help your company save valuable time, effort, and money. The immeasurable benefit a reliable accounting firm brings is the peace of mind you’ll have from the knowledge that every financial aspect of your business is covered. In the Mississippi mid-state area, Watkins & Co. CPAs are your trusted partners – teaming with us provides numerous benefits that reach far beyond the day-to-day financial services we offer.
(more…)10 Pitfalls to Avoid in Small Business Accounting
What common accounting mistakes should small business owners avoid?
(more…)Business Entity Formation and Structure for Small Businesses
If you’re on the journey of beginning a new business, congratulations! That’s an exciting endeavor and the start of a new chapter of professional life. A vitally important and foundational step that can impact your venture’s future is selecting the correct business entity and structure. This decision can have a significant impact on your company’s long-term financial viability, protection, and growth potential. When it comes to making these important decisions, having a trusted and experienced business accountant by your side can make all the difference. Watkins & Co. has decades of expertise in advising new business startups and we are here to provide the support you need for creating a successful business foundation.
(more…)Business Expense Tracking and Reimbursement Tips for Small Businesses
As a small business owner, you may have found yourself bogged down with the ins and outs of financial hassles like keeping track of business expenses and managing reimbursements. But breathe easy – relief is just around the corner! With the right support and effective expense tracking methods, your small business can thrive. All it takes is a few game-changing tips for managing small business expenses and the right professional accounting team on your side and you’ll be set up for successful financial management.
(more…)Payroll and Employee Management for Small Businesses
As a small business owner, you consistently face numerous responsibilities and are pulled in a million different directions every day. The payroll and employee management aspect of any business can seem daunting, especially if you’re an entrepreneur who does not have a dedicated HR department. At the same time, maintaining a happy and productive workforce and staying legally compliant is vitally important for your company. If this all rings true for you, then you’re in the right place! Watkins & Co. small business accounting experts are here to offer valuable insights and tips on employee payroll and management.
(more…)Tax Planning And Compliance For Small Businesses
Owning a small business is potentially one of the most rewarding experiences in life but can also present a fair share of challenges. You have to learn to wear many different hats, one of which is tax and compliance planner. Proper tax planning and compliance have a significant impact on your business’s financial growth and the longevity of your company. Yet keeping up with ever-changing tax laws and regulations can be overwhelming, especially when you’re already juggling the day-to-day operations of your business.
We have good news for you! Tax professionals at Watkins & Co are here to share everything you need to know about tax planning and compliance for small businesses, as well as how our team can assist you in this crucial aspect of your business.
(more…)5 Best Practices for Small Business Bookkeeping and Record-Keeping
As a small business owner, you know that ultimately, finances are the engine that keeps your business running. Having an efficient bookkeeping system in place, one that is accurate and current is essential for your company’s success. The key to such a system lies in understanding and establishing best practices for small business bookkeeping and record-keeping. This enables you to capitalize on your business’s potential and maintain a smooth operation. Your success matters to us, so our Watkins & Co CPA pros are here to share tips on best practices for small business bookkeeping.
(more…)CPA Services for Physicians and Healthcare Providers
As a physician, you have a lot on your plate besides providing stellar care for your valued patients. An important aspect of your annual responsibilities includes navigating complex tax and accounting regulations, which can be a time-consuming and stressful experience. Fortunately, you are not in this alone! There are CPA services that can help make the process easier and ensure that your financial obligations are taken care of with accuracy and efficiency. It’s vital to find a CPA who can provide comprehensive services tailored to the unique needs of your practice. At Watkins, we provide you with a full suite of CPA services, enabling you to focus on what you do best: provide excellent patient care. Let’s take a closer look at what CPA services are available to healthcare professionals and how partnering with our team at Watkins can enhance your business.
(more…)What can the RIGHT accountant do for YOUR small business?
Choosing the right accountant can change the structure and the growth of a small business owner. They have great resource of having to interact with so many different industries. It is vital that small business owners position themselves to leverage this relationship to get the maximum impact of aligning with a firm that can provide resources in the form of referrals that can assist their clients with getting to another level. This can be done through networking, business planning, tax planning. It is integral to make relationships that will assist in getting to the next level of growth.
(more…)PROFITS ARE GOOD, CASH FLOW IS GREAT
Importance of Cash Flow in Small Business Accounting
Businesses struggling with cash flow often pose the question, “If my business is profitable, where is all the money?” The way cash moves in and out of a business is vital to understanding business finance and small business accounting. Many small business owners do not realize the difference between making and managing money. An aspiring entrepreneur often starts a business in hopes of creating an innovative new product or service without much small business accounting knowledge or management experience. As a result, important finance terms such as budgeting, forecasting, and cash flow are overlooked until bills pile up and expenses can’t be covered. Here are some things to consider in learning the basics of how cash flow and profits work.
Watkins took one of the biggest headaches in my business and made it simple! Excellent, consistent results.
-Travis – Brandon Mississippi
