Frequently Asked Questions
Find clear, helpful answers to common accounting questions for small businesses in Greenville, SC. Our goal is to provide the information you need to make confident financial decisions.
Common Accounting Questions
Find clear answers to the questions we hear most from Greenville small business owners.
Tax Preparation
What tax services do you offer for small businesses?
We provide comprehensive tax preparation, planning, and filing for Greenville small businesses, including corporate tax returns, sales tax, payroll tax, and quarterly estimated tax payments. Our goal is to maximize your deductions while ensuring full compliance.
When should I start preparing for tax season?
Year-round planning is ideal. We recommend a mid-year review and quarterly check-ins to avoid surprises. For most businesses, gathering documents should begin in January, but proactive clients start organizing in Q4 of the previous year.
Bookkeeping
What's included in your bookkeeping services?
We handle accounts payable/receivable, bank reconciliation, payroll processing, expense tracking, and financial statement preparation. We tailor our services to your business needs, whether you require full-service management or periodic review.
Can you work with my existing accounting software?
Yes. We're proficient with QuickBooks, Xero, FreshBooks, and other major platforms. We can optimize your current setup or recommend and implement the best system for your Greenville business.
Audit & Assurance
What types of audits do you perform?
We conduct financial statement audits, internal control reviews, and compliance audits for small to medium-sized businesses in Greenville. Our approach is thorough yet efficient, focusing on accuracy and risk identification.
How can an audit benefit my business?
Beyond meeting regulatory requirements, audits provide credibility with lenders and investors, uncover operational inefficiencies, and strengthen your financial controls, giving you greater confidence in your business decisions.
Business Valuation
Why would I need a business valuation?
Common reasons include planning for a sale or merger, securing financing, establishing partner buyouts, succession planning, or for tax and estate purposes. Knowing your business's true worth is crucial for strategic decisions.
What methods do you use to value a business?
We use a combination of asset-based, income, and market approaches tailored to your industry and business model. For Greenville businesses, we consider local market conditions and economic factors to provide a realistic, defensible valuation.
Your situation is unique. Get personalized answers from a local expert.
Still Have Questions?
We understand accounting can be complex. If your specific question wasn't covered here, we're happy to provide personalized advice tailored to your Greenville business.
Martin Smith Accounting – Your trusted local partner for personalized accounting solutions in Greenville, SC.