Issue link: http://cp.revolio.com/i/142672
wing it and get to the end of the tax form? Probably. But would you get all the benefits and tax breaks, and would the form withstand an IRS audit? Almost certainly not. Use an accountant to prepare your business taxes every year. Choose your accountant using the same questions you used for choosing an attorney (credentials, worked with similar businesses, passionate about holistic health, etc.). And pick an accountant who you can get along with. Hopefully you'll be using him or her for many years. Bookkeeper First of all, a bookkeeper is not an accountant. An accountant requires a lot of initial training, must pass a state certification exam, and basically understands all the details of the tax law in your state. A bookkeeper is anyone who has decided to set up shop and help people with their books. A bookkeeper will help you organize your receipts and invoices throughout the year so that you have a nice orderly package to give your accountant after year-end. He or she will likely be proficient with some type of accounting software, like QuickBooks or Peachtree. There are two ways to use bookkeepers. One way is to keep your stack of receipts and invoices until the end of the year, then dump it all onto a bookkeeper and hope he or she can figure it out. A better way to use bookkeepers is to give them your paperwork throughout the year and have them enter it and organize it, so that at the end of the It is nice to know a professional you can run to in a crisis before the crisis happens. So, it doesn't hurt to establish relationships first and then begin using his or her services later. year, everything is ready for your accountant. Fees for a bookkeeper can vary, so ask about the costs. You'll use much more of a bookkeeper's time than an accountant's or attorney's, so fees are more important in this role. Can you do bookkeeping on your own, with a copy of QuickBooks or Peachtree software? You certainly can. The major reason many people opt to use a bookkeeper is that they don't want to do this tedious task. Credit Card Processor "Do you take credit cards?" That's a question you'll hear often. It's your choice whether you want to give your customers that option or not. If you decide to, ask your bank if it can provide this service for you. However, remember that banks often charge very high rates to process credit cards. Check with independent credit card processors to compare prices. These are often one person businesses that can offer much lower transaction fees and allow you to enter your transactions over the Internet. Charges for a credit card will include some startup fee (a few hundred dollars) then a charge per transaction (a percentage of the transaction amount plus a set fee, perhaps 25 cents). Another interesting option is Cell Charge—a cost-effective way to accept credit cards. Cell Charge, which provides a discount for ABMP members, allows you to accept debit/check cards, as well as all major credit cards, without the need to buy or lease expensive processing equipment. For information, call 866-735-5292. Business Coach An incredible growth industry in the past five years, business coaching can be helpful for the businessperson who needs help in various areas. Find someone who has specific experience in the areas you lack, and understand whether the coaching costs will fit your budget. Coaching usually includes several meetings or phone calls per month and often costs several hundred dollars a month. Coaching can be an incredibly helpful service, just be careful that you don't spend more than you can afford.