Tuesday Tip :: Hire an Accountant!

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Seriously!

Do you have one? If not, you should do it. Now.

This is a case of do what I say not what I do….but it’s something I am working on right now. I’m doing my research to find the perfect accountant for me. I’m blessed with a contact to do my taxes for me….but need to find someone to do the other part! Someone to help me make sure that the monthly funds are properly taken care of.

I have a list of names to contact…but…..I’m scared.

What do I ask? How do I not sound like an idiot? How do I make sure that I’m doing everything correctly? What about finding someone I mesh with? Not only that….how do I make sure that they are accredited and know what they are talking about?

It’s so silly. I’m aware how silly it is. But I’m working to fix it.

I’ve made a list. Wanna see?

1) Are they familiar with photography business rules?

2) What type of accountant are they? CPA, Enrolled Agent, etc?

3) How do they charge?

4) Will they meet for an interview?

5) Would a bookkeeper work better for me? And if so, what tasks would I have them do?

There are so many things to think about and I know I’m not the best one to take care of all of them myself.

What do you do? How do you handle your money? Do you let your child help count the coins or do you have someone else help?

Let me know what you do in the comments! I’d love to hear.

 

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1 Comment on Tuesday Tip :: Hire an Accountant!

  1. Danyel Rogers
    February 14, 2012 at 9:33 am (6 years ago)

    Being a FT bookkeeper and a PT photographer has it’s perks! Here’s my take…..

    I suggest all photographers to get an organized well experienced bookkeeper. They should know topics like: General Ledger, chart of accounts, Debits/Credits, 1099-misc forms, and financial reports (profit/loss, income statements, etc). Bookkeepers are way less than an Accountant/CPA.

    Here’s the #1 question you need to ask a bookkeeper to find out if they REALLY get “IT”:

    1) If you have a deposit would you enter it as a CREDIT or a DEBIT to the BANK General Ledger account? It’s the complete opposite than what you’d think. You instantly associate a credit as income but in the bookkeeping world it’s backwards and would be a DEBIT.

    Accountants would be hired to file taxes using financial reports the bookkeeper should provide you. At this point your accountant could provide you financial planning for the upcoming year. Of course if you had financial questions mid year most accountants are happy to help.

    Be it bookkeeper or an accountant you have to fully trust them. If the IRS comes knocking you want to be sure they knew what they did was right. For this reason I’d 120% suggest NOT using software like TurboTax to file taxes.

    I hope this helps.

    Please note I am NOT a CPA or an accountant.

    Reply

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