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how important is an accountant 2 a small business?

I've owned my own business for a year now, and keep my own checking, savings, and tax logs. i send my written work 2 my acct every month for 65 dollars a month, and he basically prints a profit and loss sheet and repeats my log. he's also told me my estimated quartely tax andhow to pay my sales tax. Then for 165 dollars he prepares my end- of - the -year tax. Can't i just do this on my own? i mean there must be a program i can do, and some research about taxes...i feel i could save close to 1000 bucks a year. ne body out there do it themselves?

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yomamaporter

Asked by yomamaporter at 9:24 PM on Dec. 8, 2008 in Money & Work

Level 1 (0 Credits)
Answers (4)
  • I do it myself... wow, that's quite a bit you are paying him (not saying he isn't worth it), but I would think even going to H& R Block or a tax preparation place would be less expensive than that.
    KnoxvilleDoula

    Answer by KnoxvilleDoula at 12:17 AM on Dec. 9, 2008

  • i co-own and operate 2 small businesses, personally I would not go without an accountant. I would rather pay someone to burden the stress of monthly, quarterly, and yearly taxes - regardless if they are federal, state, sales-tax, or payroll. I know in California, licensed accountants must attend yearly seminars and classes to stay on top of all current tax laws, and to maintain their license. Also, they are in the business to make sure that you do not pay the government unnecessary taxes - I rather commit my time to maintaining my business and let my accountant maintain my tax filings... just my point of view - good luck

    AndreaRUJuiced

    Answer by AndreaRUJuiced at 1:34 AM on Dec. 9, 2008

  • Hubby and I own our own small business and we use an accountant - would not even consider NOT having one.
    Anonymous

    Answer by Anonymous at 9:59 AM on Dec. 9, 2008

  • I had my own business up until three months ago. I did everything myself. I didn't see the point in paying someone to do the same thing I could do for myself.
    LovinIt247365

    Answer by LovinIt247365 at 10:18 AM on Dec. 9, 2008

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