Many of our tradesmen are self-employed and have asked us "Should I hire an accountant to handle my bookkeeping, or should I let someone I trust, such as my wife do it for me?" The answer to this question depends on numerous factors. The following information explains why hiring an accountant would be in your best interest.

Saves Time

Hiring an accountant saves time because if it takes your spouse ten hours to figure out taxes that an accountant could handle in an hour, it affects both your home and work life. Spending all that time on accounting takes time out of other functions of the business and less quality time at home. You don't always have to hire a full-time accountant. Hiring one on a part-time basis, or whenever needed will do. The last thing you want to do after a long day of work is trying to manage business accounts.

Expertise/ Up-to-Date

A hired accountant is knowledgeable about recent accounting techniques and methods that will keep your business productive and out of hot waters with the IRS. They are trained to eliminate and seek-out red flags that could cause an audit. The accountant will make sure all your tax obligations are met and make sure you receive all the tax breaks you qualify for as a self-employed individual. A hired accountant can also manage payroll, produce graphs, tables and whatever else you need in order to track the incoming and outgoing of business finances.

Accuracy/ Peace of Mind

A hired accountant makes fewer financial documentation mistakes and can provide you with an accurate view of your earnings, tax obligations, expenses and pending transactions. It can become hard to keep track of the cost of the failed air conditioner, the customer that requested a refund, pending payroll and whether insurance coverage has been paid yet. A hired accountant will make sure all of this is taken care of and will provide documentation in case any issues arise.

As you can see, with a hired accountant you save time, money and have a greater sense of security. If you would like more information about contracting and how you can get started, feel free to contact us .