How to find a good accountant for a very small business?
I've recently gone self-employed and need to find an accountant to help me as i'm hopeless with book-keeping and wouldn't have a clue about doing a tax return. I know if i go to a large accountancy company, they'll charge me a fortune. How would i go about finding someone who knows what they are doing, is up to date with all the things i can claim for, and who isn't going to charge me an arm and a leg? Is it really just word of mouth? Is there anything else i should know? I'm completely new to this, thanks.
Small Business - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1) Ask friends, family or other who are self-employed. 2) Look on Craigslist. Many independent bookkeepers post ads under "Services - Financial". 3) Google your city + bookkeeper and see what you find.
Answer 2 :
You should also try contacting e.g. the accounting society or SIFE team at a local university. I know when I was at university, I was involved with a society that worked one to one with people who are self-employed and local businesses to improve their bookkeeping skills. The students are desperately trying to build up work experience and will do everything for free.
Answer 3 :
I was self employed all my life and had a good accountant and it's important to have one if you're a fairly large business but if it's only a cottage industry then the inland revenue will help you do your accounts.It's not difficult.Basically it's the difference between the money you bank,( your gross profit )and the cost to you of the product you sell, that you are taxed on, after all costs and depreciation are removed .It's this net profit that you're taxed on
Answer 4 :
Look locally. You just need a small firm not a large company. They should show you how to do your books and will do your tax return at the end of the year. That is what I did for many years in business. UK
Answer 5 :
Look for an accountant referral that supports your business. Most accountants end up specializing and developing a reputation for knowledge of certain industries. For example, if you own a convenience store, look for a business accountant that knows your sector. Talk to people in your business field and find out if theres any particular company that specialises in your area. This can be the best first step in choosing an accountant for a small business.
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