Do you have an accountant?

**Jawie** · 02-21-2007, 04:59 PM

That would be a great opportunity; to work with an accountant. You know, there are also businesses that only require a brief assistance from the CPA. Consulting a CPA would makes a certain business more systematic and documents are being intact. Money matters are being monitored and transactions are always reviewed for statement of Income presentation purposes.

I would like to comment on CPA`s having a specialty in the internet business?
Well maybe there is. Then accounting related services maybe are the topics he/she can offer.

Thanks for a nice thoughts to all.

**domokun** · 02-23-2007, 04:14 PM

Im still in the early days of setting up so I do my own accounts; and I do them pretty well!

i am planning to get a chartered accountant to look at my books soon though

**PeterLancs** · 02-26-2007, 10:34 AM

Im also still in the early days of creating muggd.com like myspace but better and more unique. I am planning to get lawyers/solicitors in the uk and an accountant(s)

**LuckyGrams** · 03-11-2007, 10:27 PM

There's no need for an accountant who specializes in internet business. You simply identify the sources of income and what each expense is for. Web hosting, internet access (cable, or whatever), business telephone line expenses, etc., are all expenses. There's no category for "interent expenses" in tax returns. Ditto for income sources - money that comes in through paypal, credit cards, checks - is all income. Fees you pay to PayPal or for credit card processing, are deductible.

**.insane** · 03-12-2007, 09:37 PM

I have an accountant as well as a technology lawyer who handles a majority of my legal and business matter but they have been teaching me for years and now i know about as much as them

**SirAdrian** · 03-13-2007, 12:09 AM

How much do you guys end up paying them? Is it just a few hours of work at the end of the year as you give them your tax data, or is it more of a once-a-month visit?

**.insane** · 03-13-2007, 08:54 AM

The accountant is about a 1000 a year for a few hours, my technology lawyer probably adds up to around 8000

**LuckyGrams** · 03-13-2007, 09:56 PM

My business is incorporated and I have employees, so there are quarterly tax returns, payroll figures, etc. I pay $425 a quarter plus a fee for preparing corporate and personal returns. It's one of those expenses that I'm almost happy to pay since it save me tremendous amount of time keeping up with the laws and I know all the returns and stuff will be done right. So I get to spend my time working on my business not my taxes.

**imported_bluecircle** · 07-23-2007, 03:40 PM

I've been doing it myself but now that I've incorporated and things are getting more complicated I'll be getting one.

**prometeus1** · 07-24-2007, 11:59 PM

Don't need one yet, but will pretty soon. Spending more and more time looking after the accounts and less on important stuff. Makes sense to get a professional to look after it: i might be able to do it but i'm sure a professional accountant would take a quarter of the time

**LeeD** · 07-27-2007, 10:40 AM

Yep, that is my thought too. Why spent valuable time doing something I am not very good at when I can pay someone who is very good.

**Frito Pie** · 07-27-2007, 10:51 AM

I pay mine 250 monthly for ongoing monthly reports. For filing my yearly tax returns for business and personal, 500.00. For other filings (employee tax reports, franchise tax, etc,) from 80-100 depending on what she is doing.

**jesterx** · 08-03-2007, 07:53 PM

I have an accountant and when my online career went from a 100 dollar a month busienss or hobby, to a 5k a month business my account was about to ask which banks I was knocking over....he he....but he loves me now and I am getting back lets just say a few monkeys and gorillas in my tax return very sooon....

moral of the story is to get yourself a good account even if he charges a fair bit he will be able to get you back lots of money if you treat him well.

**SoWORKX** · 06-28-2008, 12:20 PM

Is anybody of you guys who do the accounting themselves using freshbooks ? I am thinking of using it but would be interested if there are better options out there ?