From the course: Taxes for Small Business
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Your responsibility vs. your accountant
From the course: Taxes for Small Business
Your responsibility vs. your accountant
- Tax time is really a year-round issue when you run a business. For business owners taking care of their own taxes, being diligent about tracking expenses, staying ahead of fees and levies, and meeting filing dates isn't easy, so if you can afford it, getting help is well worth it. But at the same time, you need to be judicious with how you engage that help. Let's start with some definitions. Bookkeepers handle day-to-day financial matters within a company. Data entry, tracking expenses, paying invoices, and perhaps helping with payroll. Bookkeepers are generally low cost and have secondary educations, but not necessarily college qualifications. They need to be organized, adept at software, good attention to detail, and will generally get their accounting expertise from on the job training. A bookkeeper can be a godsend for business owners, as they allow them to spend time on generating income for the business versus dealing with paperwork. Accountants with a CPA designation must…
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