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We do all bookkeeping and payroll ourselves but spend between $1,500-$2,000/year on an accountant to do end-of-year filing. I strongly feel that a good accountant is a must for anyone doing business even if you are just starting out. There are several reasons: Tax laws are complicated and a good accountant will stay on top of changes, requirements and ...

Bookkeeping software (like Quickbooks) is complimentary to an accountant, not an alternative. Your business has financial, tax, and possibly payroll responsibilities. A qualified CPA will help you setup and maintain the appropriate financial records your business will need to meet all of these obligations. You can read, research and learn to do all of ...

Lawyers and accountants are a bit like tailors, there's a wide variety of styles and wildly varying levels of competency. The style and expertise that works perfect for me may not be at all right for you. Here's the process I'd follow: Write down 2-3 of your most pressing legal/accounting questions and think through what you want an attorney/CPA to do/be ...

In general, I would suggest at least having a bookkeeper. The primary responsibilities of a bookkeeper are to ensure that your financial data is accurate and current at all times. Also, the role of bookkeeping should not be reduced to just data entry. A good bookkeeper will have a strong working knowledge of the chart of accounts, debits and credits, journal ...

That's a lot of questions in one. :-) Basically - Referrals from other startups. 1) Finding a good startup lawyer. Great startup lawyers are good because of their experience. Of course, any lawyer worth his name will say he knows the space. After all, they're salesmen too. So I'd go by referral. 2) When to incorporate. Actually, when/why/how you need to ...

My current budget for accounting $0 I do it myself but have a degree in finance. (not an accounting degree but very related) Doing it yourself? So consider expected revenue prior to deciding to bring in an accountant. The higher your expected revenue the more improtant it is that all of the accounting is correct. The less the money that is at ...

Those are all great questions. Here are some that are worth adding: Amount of experience with your software (assuming you have selected it) What is the preferred method of sending him/her your accounting information? Have they ever been sued or any complaints or ethics violations with the State Board of Accounancy? (You can check this directly with the ...

Great question, but as a side note the best thing you can do is find outside references. Interviewing an accountant is like interviewing a lawyer or doctor -- in fact there's nothing you can ask to truly know if they'll be capable and attentive and not screw something up and not charge you too much. You're really interviewing for red flags and ...

It depends, in part, on how likely you are to find an accountant near you who has experience in online businesses. To me, it's more important that I be able to meet with my tax preparer in-person, and I don't think I'd be able to find an accountant with much web experience in my area. You might prefer to work with someone from afar, but there are a number of ...

Is it feasible to contact a tax accountant and have him answer these questions by e-mail. Generally, yes. What would be a reasonable amount to pay for this information? Charges vary significantly, and obviously the more experienced and knowledgeable providers charge more. You can expect somewhere between $100 and $500 hourly rate (yes, the ...

There are a lot of combinations depending on whether you are hiring a bookkeeper or an accounant. Bookkeeper will only maintain your books based on business transactions. Their rates are lower than those of an accountant. A lot of them work remotely as well, so you are not limited to the nearby area. A bookkeeper can help with such items: Post transactions ...

I would not advise you to pay an accountant to do your bookkeeping. You should hire a bookkeeper to do your bookkeeping. An accountant's hourly rate is much higher than a bookkeeper's hourly rate, and bookkeeping is a fairly straightforward thing, so it's not one of those things you benefit from paying extra for. Some accountants will have bookkeepers on ...

Most Bookkeeper are qualified to be accountants. I would suggest you look for a bookkeeper first. Quickbooks is a software that generates financial reports (set up the chart of accounts proper). A bookkeeper can read and analyze financial reports and in turn provide you feedback. If you are lucky with the right bookkeeper, he/she may file your taxes for a ...

You probably don't need an accountant for a small business. Bookkeeping might be beneficial, depends on how good you are doing it on your own, and how much time you have to spend on it. A good tax adviser is a must before you do anything though, but it doesn't have to be an on-going retainer. But it really depends on the type of business. If its a software ...

As a practicing CPA, I would suggest you go with the one that can provide the answers you need. In your case, that may be the Enrolled Agent (EA). Even in the area of taxation, I see a number of EAs who are top notch thought leaders in this industry. To become a CPA, a person must have a four or five year degree. I don't believe there is any education ...

I agree with the other posts, if you are just looking for basic accounting recordkeeping then hire a fee-based accountant or bookkeeper. However, an accountant is not going to be able to help you with financial business models. If you are looking for the latter then you should look into hiring a part-time CFO on a project or interim basis to develop your ...

Regarding legal support, we use Pre-Paid Legal Services, Inc.. At first I was skeptical. A PPL rep came out and explained how it worked. It is $49/mo with no contracts or cancellation fees so I thought what the hell. It has been one of the best investments I've made and is more than worth what I pay (it also extends to family and personal issues). The ...

For a startup you probably only need to talk to a CPA. A Cpa will understand the financial structures, tax planning, and corporate structure that makes most sense. A CPA may be cheaper than an attorney, but that varies. You dont need much. Just need to make sure that you have a good lawyer and cpa in your Rolodex in case issues arise or you need ...

We track expenses and income ourselves (just a couple transactions per month right now) and pay an accountant something on the order of $800 to preparer the tax paperwork. When the tracking becomes a real diversion we will hire someone else to do it, but of course we want/need to know big picture stuff. The tax prep and all the compliance, etc stuff is not ...