Why Your Epoxy Garage Flooring Business Needs an Outsourced Accountant

Running an epoxy garage flooring business can be fun and exciting – and it can be rewarding to watch a worn-out garage floor transition into a beautiful, long-lasting epoxy floor.

However, while the top concrete coating companies, like Concrete Refresh in the Twin Cities, focus on performing quality epoxy flooring services, they need to hire a professional to handle their finances. Unfortunately, just because flooring contractors don't have time to dedicate to their accounting needs doesn't mean the financial needs don't exist. It's essential to hire a CPA who knows the ins and outs of accounting and tax laws to help epoxy flooring contractors thrive – and stay compliant.

What Does An Outsourced Accountant Do?

An outsourced accountant provides complete financial services to epoxy flooring companies. They handle various tasks typically handled by an in-house accounting department, allowing flooring contractors to focus on their daily business and projects.

Here are some of the critical tasks that an outsourced accountant can handle:

• Bookkeeping: Recording financial transactions, including income, expenses, and asset purchases.
• Financial Reporting: Preparing financial statements such as income, balance sheets, and cash flow statements.
• Tax Preparation: Filing tax returns, including corporate, income, and sales taxes.
• Payroll Processing: Managing employee payroll, including calculating wages, withholding taxes, and issuing paychecks.
• Financial Analysis: Analyzing financial data to identify trends, strengths, and weaknesses.
• Budgeting: Creating and managing budgets to track income and expenses.
• Auditing: Conducting audits to ensure financial accuracy and compliance.
• Financial Consulting: Providing advice on financial matters, such as business valuation, mergers and acquisitions, and risk management.

Benefits of Hiring an Outsourced Accountant for Epoxy Flooring Contractors

There are numerous benefits to hiring an experienced accountant and CPA to organize a concrete flooring company's financials. These can include:

• Accurate and Up-to-Date Financial Records: An accountant will ensure their financial records are accurate and up-to-date, clearly showing their business's economic health.  
• Tax Optimization: Accountants can help them identify tax deductions and credits specifically available to epoxy flooring contractors, minimizing their tax burden and maximizing their profits.
• Financial Planning: A skilled accountant can assist with financial planning, helping them set goals, track progress, and make informed decisions about their business's future.
• Regulatory Compliance: Accountants can help them comply with all relevant tax laws and regulations, avoiding costly penalties and fines.
• Scalability: As their business grows, their accounting needs will change. An accountant can help contractors scale their financial operations to accommodate their growth.
• Peace of Mind: Knowing their finances are in good hands can provide peace of mind and allow contractors to focus on other aspects of their business.

Why Concrete Coating Contractors Need a Trusted Accountant

When choosing an accountant, epoxy flooring contractors should look for someone with experience in the construction or home improvement industry. They will better understand the unique financial challenges and opportunities faced by epoxy garage flooring businesses.

We work with excellent accountants, including Asnani CPA, Performance Financial, Passageway Financial, Whyte CPA, and Pulver CPA.