24 Tips to Get Organized in January: Tip #18, Hire an Accountant
Tip #18: Hire an Accountant.
Nothing causes more folks to want to pull their hair out than doing their own finances. Whether it’s doing the monthly bookkeeping or finalizing payroll, managing your finances takes up a huge chunk of your time.
Yes, you could do it yourself. But remember that time value of money thing? How long do you think it will take you to do your own taxes? What is your hourly rate? When you consider that a CPA will usually be able to prepare your return for between $200 and $500 (depending on the complexity and your geographic location, it could be more), do the quick math. If you can do your own taxes - and you want to - for the equivalent of $200-$500 of your own time, then do it. If you can’t, hire someone.
There’s no shame in hiring someone to do your taxes. It’s not waving a white flag. It’s smart business. Do you really think that Donald Trump is hunched over a computer with TurboTax trying to make sense of it all?
You likely didn’t start your business to do taxes. Hire some help and do what it is that you like to do at the office - not compute depreciation deductions.
For information on finding a good tax preparer, click here.
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