The time of year when tax returns are due is a time that many people dread. After all, it's not the most enjoyable activity, and it's never nice to be reminded of the tax you have to pay. Nevertheless, it's an important task to get done as soon as you can, as lodging it too late or failing to do it at all can land you with a big fine.
Over 50% of new businesses fail within their first three years of trading, and one of the reasons for this is because the person running the company is not ready for the daily responsibility of keeping the business booming. You have just started up a small business of your own, but you are trying to do everything yourself, so you don't have to pay professional fees for accounting or legal services.
As technology pervades all aspects of business, outsourcing has become one of the top ways for businesses to get work done without having specialised staff on salary. The rise of freelancing and the online community provides business owners with a wide assortment of skill sets to choose from depending on what their immediate needs are. Since all companies need bookkeeping operations, it is no surprise that you can easily get professionals to perform these tasks for you rather than having to hire a permanent accountant.
Hello. When you are at school, maths can seem so complicated at first. But then you learn about numbers and all of sudden everything seems as easy as 2 + 2 = 4. I used to be pretty good at maths so when I started my own business, I didn't think I needed to hire an accountant. After all, why should I pay someone else to do something that I could do myself? However, I very quickly learnt two important lessons. Lesson one was that accounting and doing the books will take a lot longer than you might think and, secondly, it is actually pretty complex stuff. In the end, I decided to hire a professional accountant. He is great and he has taught me a lot of cool stuff.