Sulaski & Webb | Bloomington-Normal's Trusted Accountants For 30+ Years!
The Sulaski & Webb team has served the Bloomington-Normal area for the past 30 years. Our services include audit and accounting services for businesses, non-profits, and government entities; individual tax and advisory services to help you craft a personalized tax preparation plan; business taxes and management advisory for corporations, partnerships, limited liability companies, and other types of companies takes expertise to properly prepare for tax season.
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|Audit & Accounting Services||Individual Taxes & Advisory||Business Taxes & Advisory|
When To Hire An Accountant? Do I Need One?
Not everyone needs an accountant, but there are a few instances where it's definitely beneficial for you or your business. Hiring an accountant will be helpful if your business is looking to write a business plan, define a legal structure, create a financial structure, deal with the government, undergo an audit, apply for a loan, grow, or buy another business.
Accountants can help make your business plan more useful and realistic by utilizing accounting software to add financial projections. They can also simplify your business metrics and help you see changes and developments over time. An accountant can help ease your workload and simplify the financial aspects of running a business.
While a small business owner may enjoy the additional control and sway he or she holds, it can be overwhelming trying to do too much. Handing over your company's finances to an accountant may seem stressful, but once you find the right accountant, you will have more time to concentrate on other aspects of your business.
An accountant can help you handle growth transitions, such as hiring employees or taking on more office space. They'll look after the detail (payroll, employee tax management, property tax, utility payments and so on), leaving you free to look at the bigger picture of the way your business is growing. An accountant can also help in the unlikely instance that your company has to undergo an audit. Audit insurance covers the fees you would have had to pay if your business needed to respond to an official inquiry, review, investigation or audit by a tax department. An accountant who offers audit insurance means they won't charge any extra for the considerable amount of work they'll have to carry out during the audit process.
A good accountant will be able to:
- Complete and file the required legal and compliance documents for your business
- Keep your company up to date with the latest tax laws
- Prepare annual statements of accounts
- Update your company in the government's company register
- Maintain records of directors and other administrative personnel
- Handle your payroll & ensure that all employees' tax codes and payments are recorded correctly.
Certified Public Accountants Serving Bloomington-Normal
This might surprise you, but not every accountant is a CPA. Think of it this way: All CPAs are accountants, but not all accountants are CPAs. Passing the CPA exam gives you extra peace of mind that your accountant knows what he's doing. If you're looking for top-notch CPAs in Bloomington-Normal IL, you should speak with Sulaski & Webb.
Why Hire Sulaski & Webb?
Over the past 30 years, the Sulaski & Webb team has earned the respect and trust of Bloomington-Normal. We are dedicated to serving individuals and businesses and to help them achieve financial success. We have a long history of service in public accounting, serving businesses and individuals in the area since 1982. If you're looking for certified accountants to walk you through complicated tax codes in language you can understand, you're looking for Sulaski & Webb.
The right accounting team will not only help ensure that a business is established correctly and abides by the law - but will help you fully understand the financial performance and position of your business on a continual basis. Our team at Sulaski & Webb has significant experience in planning ahead with our clients to encourage stability and consistency through an ever-changing financial and regulatory environment.
Financial statements can get confusing, and individuals and business owners may have a difficult time creating reports or may be lost when it comes to accounting terms. In this case, one likely needs to hire an accountant for guidance in all things financial. An accountant can talk to you in straight and simple language, weed through terminology, and teach you ways to manage your own finances. In addition, you would not want to miss any key information or make any mistakes that could cost you significantly down the road. An accountant can start you and your business off on the right track.
Furthermore, the U.S. Tax Code can contain very complex provisions that must be explained clearly by an accountant. If you fail to pay the right taxes for your business type and industry, then you will likely need to pay penalties and fines, which are not good for business. An accountant can advise you early on so that you can comply with all tax regulations. More importantly, an accountant can inform you of tax credits and deductions you can take and predict the taxes you will owe so that you do not come up short when the authorities do an audit. Moreover, an accountant will make tax season less daunting because he or she can file your taxes for you.
So, what's the difference between an accountant and a CPA?
A CPA is a certified public accountant. Many work in the field of public accounting in CPA firms ranging from a sole practitioner to a large international CPA firm, but some choose to go a different route and find work as accountants in manufacturing, financial services, not-for-profit organizations, health care, government agencies, education, and the like.
As mentioned above, not every accountant is a CPA. In order to earn this title, one must pass a difficult CPA exam and become licensed by one of the 50 U.S. states. Their extra level of certification means you could say they know what they’re doing - in fact, the average passing rate of that exam in 2015 was, according to AICPA, less than 50 percent.
At Sulaski & Webb, our goal is to give each client personalized attention and a commitment to service. We are dedicated to helping you achieve your financial goals. With our professional accountants and incredible support staff, you can be assured timeliness, thoroughness, and accuracy. Founded in 1982, we serve our clients in a highly professional manner at all times. Whether we are providing audit & accounting services, tax & advisory services, or any other financial assistance, we have your best interests in mind.
What To Look For in An Accountant
Whether you choose to work with an accountant or a CPA, there are a few things you should always look for, as well as a few red flags you should avoid. Below, we've listed a few must-have characteristics to keep in mind as you choose the accounting practice you want to work with. Whether you are an individual or a small business, you should make an effort in knowing who you are hiring so that you can be sure of whom to entrust your personal or organizational finances.
Qualification - A Certified Public Accountant had to meet educational and professional requirements including continuing education and experience and passing the Uniform Certified Public Accountant Examination. When you hire a qualified accountant, you know that he has received the proper training to address your concerns.
Communication - This aspect is one of the most important things to look for in an accountant because you would want to understand what's going on with your finances. A CPA who can provide proper accounting advice and fully explain the reason for the opinion in words that you can understand can be trusted. That's because then you can easily cross-check what he's saying with what's on paper.
Information - Good accountants are knowledgeable in all pertinent aspects regarding accounting. Furthermore, they should have the information needed to lead you to financial success. They should help individuals find ways to save on expenses, for example. On the other hand, they can help businesses strategize to minimize cost and improve revenue.
Method - In addition to the things that accountants learn in school and continuing education, a systematic process should be a top tool of the accountant. That is, a CPA should have his own plan to manage your finances. In addition, he or she should be able to communicate this plan to you. In this way, a clear method with goals can be set, and results can be easily measured.
Network - Does an accountant have strong connections with professional people? This is, in fact, an important factor in the reputation of an accountant. The network of a CPA speaks about his or her ability to build relationships, communicate, solve others' problems, and ask for assistance when needed. This is the type of accountant that you want to hire.
Experience - Nothing speaks more highly about an accountant than experience. Experience allows accountants to accumulate knowledge and apply various solutions to different problems. Sulaski & Webb is one of the most experienced accountants in Bloomington IL.
Our offices are located at the historic Illinois House, and we are proud to have attracted an outstanding professional and support staff to serve you better.
Sulaski & Webb || Bloomington CPAs
207 W Jefferson St # 203 Bloomington, IL 61701