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Be Ready For Your Accountant At Tax Time

Big business and big fees. It’s a common perception of accountants, particularly if you watch Hollywood movies, but how about smaller businesses. Are there any benefits to investing in the services of an accountant if you run something like a local shop or service company?

Accounting, like most professions, is governed by principles and concepts. If you follow them, you get the result you want. The people who you lead or manage don’t nicely conform to a set of norms. So you need to get comfortable dealing with ambiguity. So how do you do this? Simply dive in, act, learn and adjust.

The Accounting Aisle, an online service that matches local accountants with consumers, asked some of its accountants for their biggest pet peeves and tips on how to save money on this annual ritual. Without exception, accountants and CPAs say that a little preparation will save you time and money on your tax bill.

So, in the first year, your bank account went down by the cost of the car ($30,000) and your profits only went down by the depreciation expense of $6,000.

If you know how to sing or play an instrument, brand yourself as “The Singing Accountant” (for example) and I guarantee you’ll attract all the cabarets, bands, karaoke bars and the like as clients. Once you have them as clients, the people that go there will likely need a professional to handle their numbers and advise them on their personal and business finances.

Most Accountants Walthamstow strive to make their oral communications successful. But too often they write in a style that suggests they are concerned to make their writing “sound like an accountant”.

Second, are your emails in the same style as your letters? Unlikely. Which style do your most commercial clients prefer? Sure there’s a spectrum of styles. With a quick informal administrative email at one end of the spectrum and say, a letter to be included in a prospectus at the other end. But it’s likely that your clients would be happier if you wrote many of your letters in a style similar to the style you use in your more formal emails.

Today, clients are increasingly prepared to pay for documents they can understand. One day soon, they’ll refuse to pay for documents they can’t understand. Fair enough too.