2006-12-28 02:37:32 · 9 answers · asked by us tax 1 in Business & Finance ➔ Taxes ➔ United States
All depend on the size of your business... No need to hire a CPA if you only selling corner hot dogs. Try educating your self on small biz tax matters...hire a bookkeeper if need be...and a CPA/Atty later as your biz grows larger. A large overhead will kill any small biz.... CPAs dont come cheap. Good luck.
2006-12-28 04:08:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In 99.9% of the cases, hire a CPA. The vagaries of business taxes are immense, and unless your business is very simple one, you run the chance of missing important deductions, or worse, running afoul of the IRS.
so unless you are running a business with minimal expenses, without employees, that is not incorporated, without inventory, then hire a CPA. (A real estate agent, for example ould be a business owner that could get by without a CPA, or an independent sales representative).
2006-12-28 03:58:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I'd strongly advise that you hire a professional CPA, because it's far too easy to mess up the accounting on your own with the stress of running a business looming over your head. It's much better to have a pro do it than to do it yourself and get audited for a simple mistake that could have been avoided.
2006-12-28 02:47:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm an accountant. On this one, don't go it alone. Hire a CPA for tax work and financial reporting. Also, hire a lawyer for help with legal issues.
2006-12-28 02:40:30 · answer #4 · answered by jim 6 · 0⤊ 0⤋
I would advise you to hire a CPA. You should focus on the actual running of your business for it to succeed. This is not to say that you shouldn't know anything about the financial aspect of your business. Please buy "Loopholes of The Rich" (Rich Dad series). It's by Diane Kennedy. Great advise for new and existing business owners.
2006-12-28 03:48:59 · answer #5 · answered by Sonia R 1 · 0⤊ 0⤋
nicely, in case you run it out of your place, you may declare factors of your housing price as portion of your corporation expenses... enable's say you utilize 25% of your place on your corporation, and you spend a hundred money on utitlies, 25 greenbacks would be claimed as conventional corporation expenses. this is the same for all the different expenses which you abode incurs interior the path of doing corporation. one factor you may desire to make confident is that your corporation could be meant to make money (in tax words) so it does not fall under the interest rules, in spite of the incontrovertible fact that it purely applies once you lose money. by using ways, you may get a CPA reason they'd supply you with each and every of the tax suggestion you decide on.
2016-12-11 17:35:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Do you know how to handle start up expenses? Do you know all tax depreciation methods for various property? That should tell you the answer.
2006-12-28 03:17:57 · answer #7 · answered by spicertax 5 · 0⤊ 0⤋
If you are not 100% sure you can handle it alone, hire someone.
2006-12-28 02:47:24 · answer #8 · answered by ricks 5 · 0⤊ 0⤋
hire one. ITs bttr so u dnt make a mistake. plus theyre a profesional.
2006-12-28 02:44:50 · answer #9 · answered by lol! It's moi 2 · 0⤊ 0⤋