If You Own Your Own Business, You Need an Accountant

January 18, 2013 by
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Tax (Photo credit: 401(K) 2013)

With tax rates rising, and the tax code becoming increasingly more complex, you are throwing money down the toilet by not hiring an accountant.

All entrepreneurs aspire to have their own company, so if you aren’t there yet, you will be, so be sure to read this article.

Accountants will help you write off your expenses and setup your business so that it pays less taxes. I can’t go into the details of how they do this since I’m not an accountant, but needless to say all you need to do is a little simple math.

If you pay your accountant $1000 per year to do your taxes.

And they save you $1500 per year in paying taxes.

You win by $500.

This simple math is what you should bring to any prospective accountant. Tell them what your general expenses are, how much tax you paid last year, and then have them make you an offer you can’t refuse.

For some special situations, you may even benefit from a tax attorney, checkout this link for a list of some recommended professionals.

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