Six Reasons TMA May Not Be a Good Fit for Your Business

We believe that investing in good accounting processes can benefit most small businesses. While we love helping small business owners, not everyone is a fit for our services.

Here are six of the most common reasons that TMA may not be a fit for your small business.

My process for bookkeeping, taxes, and payroll is working just fine

If your small business already gets great results with how it manages these functions, you may not benefit from services like TMA provides.

• Your bookkeeping is organized, up-to-date, and reliable.
• Your payroll process operates smoothly and easily.
• Your accountant provides you with all the info you need about your profits and taxes.

TMA’s services are more than I need

If your business doesn’t have any employees and/or significant profits, it may not need help with accounting, payroll, and taxes. Experienced business owners know that a big surprise at tax time can create a very unpleasant cash crunch.

They also know that paying employees can be a frustrating mess. If your business has no employees or isn’t profitable enough to cause any concerns about taxes, it probably doesn’t make sense to hire a firm like TMA.

If you’re the owner of a part-time or hobby business, you may not need much accounting help other than filling out a simple tax form after year-end. We may be able to provide a referral to an accountant or accounting firm that provides that service.

I prefer to do my own bookkeeping and payroll

If you’re committed to a do-it-yourself approach to bookkeeping and payroll, you may have little need for additional help. We’ve met a few business owners who have the experience, skill, and available time to handle these functions.

Also, some business owners place a lot of value on self-reliance and prefer to live by the wisdom that if you want something done right, do it yourself. If you want to spend your own personal time on bookkeeping and payroll, we can relate. We love digging into the nitty-gritty details of financial data!

My business can’t afford to outsource accounting, payroll, and taxes

We work hard to make our services affordable for almost all small businesses. Still, we sometimes encounter business owners who feel their businesses can’t afford them. Budget issues can exist for a variety of reasons:

• Short-term cash flow problem
• Struggling or failing businesses
• Start-up businesses without adequate funding
• Underestimating the importance of good, basic business management. (We know you’re not in this category because you’re reading this article!)

We would be happy to help you determine if TMA’s services fit your budget.

My business must use accounting software other than QuickBooks Online

TMA uses QuickBooks Online (QBO) as our primary tool in helping small businesses keep their records organized. Unfortunately, we don’t support other software products such as Quicken, Sage, Freshbooks, or Xero. If your business must use one of these other programs, TMA is probably not the best solution.

My needs are simple – I just need help filling out tax forms

TMA’s greatest value lies in how we work with business owners throughout the year to help them stay organized and on track. That level of service is truly more than some business owners need.   In those cases, it may be worth considering a tax preparation service like H&R Block or Liberty Tax Service.

If you aren’t sure what kinds of services may be suitable for your small business, please reach out to us. We love to tailor our services to the needs of small businesses.