Why do you need an accountant before tax season?

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metoc15411
Posts: 542
Joined: Tue Jan 07, 2025 4:30 am

Why do you need an accountant before tax season?

Post by metoc15411 »

Few people like the idea of ​​hiring an accountant. Accountants are, I think unfairly, seen as utility companies. No one gets up and goes to work every day because they like paying their electricity bill, but everyone understands that they can do good work without it.

wh_you_need_an_accountant

It's that time of year when accountants suddenly appear everywhere. Everyone wants to do your taxes, give you your money back, and tell you about the time they played golf with Alice Cooper - I'm told he was very good, and my uncle called him "Alex".

While now is a good time to think about accountants, this isn’t the only time you’ll need an accountant. In fact, a good accountant isn’t so much a utility as an employee. They can give you business ideas you’ve overlooked, prepare you for days when sales are slow, and figure out how to best use the financial technology ( accounting software , payroll , etc.) you’ve already invested in.

They're actually like superheroes. Well, superheroes with an rcs database admittedly weird and niche set of superpowers. Let's talk about what you're missing.

Time is money, and you spend both.
Unless you work with an accountant, I bet you're wasting money. Some of it is money you know you 're wasting. You get to the end of the month, look at your bills, and realize you now regret buying that $165 BB-8 toy that was supposed to be so cool in the waiting area.

Some of your waste, however, you don't even notice. Your payment terms went out of order after a few weeks. Your cash flow was completely full for the month. You used a credit card when a debit payment would have sufficed.

These are things that a good accountant can help identify and correct.

Beyond the purely financial mistakes, you're also wasting time keeping the books yourself. You end up spending eight hours a month trying to figure everything out, which costs you $1,200 - assuming you charge $150 an hour.

By hiring an accountant - at a reasonable price, obviously - you'll get that time back. You can also get back the time you spent fiddling with receipts every three months, and the time you spent trying to figure out changes in your payroll, and the time you spent researching the best business credit card, and - well, you get the idea.

An accountant will show up and give you back your time. Tax season may be their time to shine, but a good accountant shines all year round.
yadaysrdone
Posts: 15617
Joined: Sun Apr 13, 2025 9:48 am

Re: Why do you need an accountant before tax season?

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