It doesn’t matter if you earn $3.50 or $350,000; you need an accountant as a freelancer, blogger, small business owner or anything similar. Although you probably get by fine doing your accounts by yourself for a while – it just takes one mistake for a fine – or worse, you aren’t making the most of everything you are entitled to.
So why should you make an accountant part of your budget?
Do you want to trade your valuable working time when you could hire accountants to take care of it for you? The time it takes you to do your taxes could be the time you spend working on your business.
We don’t often factor in just how long taxes take to do, but if you take a step back and look at it, it is likely many hours over the space of weeks.
Accountants take less time, and so even if you are paying per hour, it will amount to much less than you think.
It just takes one wrong number, misfiled piece of paperwork or missing the deadline completely to see your company land in hot water. Most freelancers and small business owners aren’t able to recover from paying those types of fines.
Not only that, but once it is corrected, you will likely have an audit in the future – or right now.
An accountant will ensure there are no errors and you don’t get in trouble.
Growing and scaling your business might not be on your mind right now, but when it is, your account could be a great source of information and support. Accountants do more than just keep track of every transaction that occurs.
They are also available to advise you on financial decisions and comprehensively analyse how to produce more revenue, enhance business sales, and discover the services that bring in the most money for you.
Consider them to be skilled business counsellors. They will help you scale and earn more money from your freelancing work and may even help you transform it into a full-fledged company enterprise.
One of the greatest things about working with an accountant is that they will be able to show you where you can save money, where you can claim deductions if you are entitled to credits and more.
Ultimately, your account could get your tax bill down to a very small amount.
Doing your taxes and sifting through information can be a long process, and if you are comfortable with maths – it can quickly spiral into something that is upsetting and quite stressful. Instead of suffering through the stress, hire an accountant and relax.
Even if you are worried about dealing with your taxes, most accountants can put your mind at ease and explain everything you need to know in the simplest way.
An accountant comes firmly in the things you should invest in to keep your business healthy and running well: The Top 4 Things To Invest In When Running A Successful Business ⋆ Isa Lillo.