Nadav Lichtenberg: Why is it important to choose a professional accountant?

Proper financial management is the foundation for the success of any business. Whether you are a small business, a large corporation, or employees with additional income, a professional accountant is a significant part of your financial routine. His role is not limited to filing reports but also to strategic planning, streamlining processes, and ensuring compliance with tax regulations. Choosing the right accountant is not just a question of cost – it is an investment in the financial health of your business and yourself.

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What is the role of an accountant?

1. Preparing financial statements: These reports provide an accurate picture of the business's financial situation and are used for tax purposes and financial planning.
2. Smart tax planning: A professional accountant knows how to take advantage of tax benefits legally, while adapting tax liability to the nature of the business's activities.
3. Accounting and bookkeeping: It ensures that all business income and expenses are properly recorded and helps improve cash flow.
4. Business support: An accountant provides strategic advice on issues such as obtaining loans, opening new branches, or investing in equipment.
5. Periodic inspections: An accountant conducts a regular review of the balance sheets and reports to identify areas of weakness and make adjustments to improve conduct.

When is an accountant's involvement required?

• Starting a new business: An accountant can help you choose the most appropriate type of business (exempt, licensed, or limited liability company) and register with the authorities.
• Active business management: Even in a small business, independent management can lead to mistakes. An accountant ensures that documents are filed on time and the business operates in accordance with the law.
• Dealing with the tax authorities: If you have received a demand for additional payment or if you are requesting a tax refund, the accountant handles all these aspects.
• Loan preparation: Businesses that apply for loans from the bank can rely on the accountant to prepare accurate business plans and coordinate expectations with the financing body.
• Managing business growth: As the business grows and expands, an accountant ensures that the financial structure and operations are adapted to the changes.

How to choose an accountant?

• Experience: Choose an accountant who is well-versed in the industry in which your business operates.
• Expertise: If you run a small business, look for an accountant who specializes in this area.
• Customer service: Clear communication and availability are keys to success in working together.
• Cost vs. benefit: Don't choose the cheapest option without checking what's included in the service.
• Transparency: A professional accountant will operate with complete transparency and ensure that you understand the financial processes he manages.
• Opinions and recommendations: It is worth checking reviews about the accountant, talking to previous clients and getting recommendations from reliable sources.

Job benefits

1. Reducing errors: Errors in reporting can result in heavy fines. An accountant prevents this by complying with legal regulations.
2. Save time: Instead of dealing with paperwork, you can focus on running the business, while the accountant handles the bureaucracy.
3. Saving money: Proper tax planning and taking advantage of benefits can save a business a lot of money.
4. Future planning: A professional accountant helps with long-term financial planning so the business can thrive.
5. Dealing with challenges: Whether it's a tax audit or cash flow difficulties, an accountant can provide immediate and strategic solutions.
6. Reducing financial risks: An experienced accountant identifies possible risk areas and offers customized solutions in advance.

Frequently Asked Questions

1. Is an accountant right for a small business?
   Absolutely. Many small businesses face financial management challenges, and an accountant can make management simpler and more efficient.
2. How much does an accountant service cost?
   The cost varies depending on the scope of the work, but for small businesses the cost ranges from 500 to 1500 NIS per month.
3. Is an accountant also suitable for employees?
   Yes. Employees with additional income, such as investments or rent, can use an accountant for orderly reporting and to prevent errors.

Difference between an accountant and a tax advisor

A tax advisor focuses primarily on handling tax aspects such as filing income tax returns, while an accountant deals with a wide range of financial issues such as preparing balance sheets and strategic planning. Businesses that need a comprehensive solution will benefit more from the services of an accountant.

Summary

A professional accountant is not just someone who handles paperwork – he is a strategic partner for proper and orderly financial management. The services he offers include bookkeeping, tax consulting, financial planning and business consulting. With his help, you can reduce costs, comply with the law, and run your business with confidence. Investing in accountant services is a direct investment in the growth and prosperity of your business.