As you know, once you have started your direct sales business the paperwork starts to pile up. The longer you leave it, the more daunting it becomes and the more you want to continue avoiding it. But unfortunately, it needs to be dealt with at some point, if for no other reason than for tax season.
While you may think that an accountant is an extra expense that you cannot afford, think about why you cannot afford to not hire an accountant.
Organization – For many accountants, a stack of paper is a great treat that they cannot wait to get into and sort. Well, maybe not that great of a treat, but they enjoy organization and having everything in its place.
Knowledge – You may think you are hiring an accountant just to sort your paper but you are hiring their knowledge and expertise. They will get that paper organized and recorded in a lot less time than you will.
Frustration – Have you ever tried to balance your check book and give up in frustration? Doing your books is a lot like that but more involved. Save yourself the headache and get someone else to do it for you.
Accuracy – many people think that doing their books is not too difficult. But chances are, once you get started you will realize that you do not know what you need to (especially if you start by trying to do your taxes). By having a trained professional do your books, you know that they are correct.
Future Savings – Not only will they help to get your papers organized today, but they will likely give you tips for the next time so that you can save yourself time and money. Your first visit will likely be the most expensive but it will get cheaper the next time, I promise.
Rules – Another big factor is that hiring a professional means they know the rules of where you live. While you know that Betty can claim X, she lives in a different state/province than you do and you may not be allowed the same deduction where you live. This is more important if Betty is in a different country.
Taxes – Not only will they help you get your books in order and organized, but they will be able to help you figure out what you can use on your taxes and how to use them. This can end up causing you to get a significant refund that you may not have found on your own!
While it may be difficult to find the funds to pay for someone to help or do your books, if you look around you hopefully can find someone who fits your budget. And if nothing else, you could try bartering instead.