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#16014 - 11/05/02 07:21 AM Biz Accountants  
sparky  Offline
Member
Joined: Oct 2000
Posts: 5,306
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) [Linked Image]

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.


Work Gear for Electricians and the Trades

#16015 - 11/05/02 11:24 AM Re: Biz Accountants  
sparky66wv  Offline
Member
Joined: Nov 2000
Posts: 2,236
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)

[Linked Image]


-Virgil
Residential/Commercial Inspector
5 Star Inspections
Member IAEI

#16016 - 11/05/02 04:49 PM Re: Biz Accountants  
Pearlfish  Offline
Member
Joined: Sep 2002
Posts: 83
Chicago Ridge, Il, USA
Virgil, Have you thought about putting your wife in charge? Then you can be a minority owned, non-profit organization. [Linked Image]


#16017 - 11/05/02 04:52 PM Re: Biz Accountants  
HotLine1  Offline


Member
Joined: Apr 2002
Posts: 6,809
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

#16018 - 11/05/02 05:59 PM Re: Biz Accountants  
pauluk  Offline
Member
Joined: Aug 2001
Posts: 7,520
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? [Linked Image]


#16019 - 11/05/02 09:04 PM Re: Biz Accountants  
CanadianSparky  Offline
Member
Joined: Mar 2001
Posts: 85
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.


#16020 - 11/07/02 07:41 AM Re: Biz Accountants  
sparky  Offline
Member
Joined: Oct 2000
Posts: 5,306
Paul,
nope, no need to sing Folsum county jail yet
[Linked Image]



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