Running a small business in the sunny state of Florida? Florida is one of nine states without a state income tax on residents. The others include Alaska, Nevada, South Dakota, Tennessee, Texas & Wyoming. Additionally, Washington and New Hampshire tax investment income but don’t tax wages. So, you won’t pay state income tax here—which is a nice perk! However, managing a business can still be quite tough. That’s where a skilled financial professional, like Accountit, CPA in Weston, FL, proves valuable. The 2019 Small Business and Finance Report shows that 87% of small business owners viewed their accountant as the most trusted advisor. They preferred their accountant’s broad business advice over all others.

Small business owners can expect their accountants to help with:

  • Choosing a business structure (for example, sole proprietorship or LLC): Picking the right business structure and incorporating it is crucial. It affects the taxes you’ll pay, the paperwork you need, and your personal liability. If you want to change your business structure, it might bring tax consequences & other issues.
  • Budgeting, forecasting & cash flow management: Creating cash flow projections and improving cash flow by looking at your business expenses and adjusting your budget and debts can lead to success.
  • Payroll processing: Handling payroll can be tricky for any business. The penalties and liabilities from mistakes can be quite significant. Payroll deductions can become complicated since every employee might have different withholdings based on their choices.
  • Tax planning: There are a few tax planning strategies—like deferring or speeding up income, speeding up expenses or delaying them, or setting up a retirement account—that can help reduce your tax burdens and save you money.

Further, as a small business owner, going to your accountant also helps with:

  • Business advice.
  • Managing bills and payments.
  • Handling employee benefits and HR matters.
  • Recommendations for software.

Selecting the right accountant isn’t just about taxes; it’s about finding someone who helps make your business goals achievable. Accountit, CPA equips South Florida’s small businesses with the resources to grow, adhere to regulations & achieve financial success. Curious how they can help? Visit or contact Accountit, CPA in Weston, FL. Let them assist you in reaching your business goals!