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#16014 - 11/05/02 03:21 AM Biz Accountants
sparky Offline
Member
Registered: 10/18/00
Posts: 5303
What do you do for your biz account/taxes?

I've had a few accountants so far, it seems the more i pay them, the more little 'tricks' pop up.

I make no claim as to understanding tax law, all i know is i'm in yr 5 and no 'men-in-black' have taken an interest in me...

(small change that i am)

Are there certian standards/practices/key wordage & or elements that you use or are aware of?

I ask because i'd hate to be told 10 yrs into a biz of something i wished i knew right up front.
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#16015 - 11/05/02 07:24 AM Re: Biz Accountants
sparky66wv Offline
Member
Registered: 11/17/00
Posts: 2232
Loc: West Virginia
I've learned that by the time you give an accountant the information they need, presented in a nice manner, that you've done 95% of the work for them, and all they're gonna do is fill out a few forms (which are available online) and charge $200 or more for it.

I guess if my biz ever became profitable then my attitude towards them could change.

-Virgil Kelly
Kelly Electric - (a non-profit organization)

_________________________
-Virgil
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#16016 - 11/05/02 12:49 PM Re: Biz Accountants
Pearlfish Offline
Member
Registered: 09/12/02
Posts: 83
Loc: Chicago Ridge, Il, USA
Virgil, Have you thought about putting your wife in charge? Then you can be a minority owned, non-profit organization.
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#16017 - 11/05/02 12:52 PM Re: Biz Accountants
HotLine1 Offline


Member
Registered: 04/03/02
Posts: 6778
Loc: Brick, NJ USA
I have an accountant for at least 12 years. See him twice a year. Run the business with Quickbooks. (Excel spreadsheets also). Get him the things he requests at years end. He keeps me (us) straight; don't need the "men in black". PS: He is an ex IRS guy.
John
_________________________
John
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#16018 - 11/05/02 01:59 PM Re: Biz Accountants
pauluk Offline
Member
Registered: 08/11/01
Posts: 7520
Loc: Norfolk, England
I always do all of my own accounts, tax returns etc. I see no fun in paying somebody else exorbitant sums of money for doing something I can work out myself.

By the way Sparky, just why would Johnny Cash be chasing after you?
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#16019 - 11/05/02 05:04 PM Re: Biz Accountants
CanadianSparky Offline
Member
Registered: 03/05/01
Posts: 85
Loc: Alberta Canada
This is perfect timing, Nov.1 our Accountant actually bought our company. Now if that isn't a sign that business is good I don't know what is.
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#16020 - 11/07/02 03:41 AM Re: Biz Accountants
sparky Offline
Member
Registered: 10/18/00
Posts: 5303
Paul,
nope, no need to sing Folsum county jail yet
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