Does your business need an accountant?

Does Your Business Need an Accountant

If you currently own or are interested in starting your own business, one of the things that you are going to need to decide is whether or not you will need an accountant. This can be a very big decision. Many business owners avoid using an accountant because it seems like nothing more than an additional cost. Here are some of the factors that you should take into consideration when trying to determine whether you should use an accountant for your business.

Do You Have a Business Partner?

Anyone who has a business partner should think about using an accountant. This will help ensure that only one of the two people who own the business is not completing tax information on their own. If you want to prevent any type of scamming from happening, then using an accountant is really in your best interest. Unless you really trust your business partner or are planning to do the taxes together, an accountant is the best option.

Are You Good at Completing Tax Information?

There are some people who are simply good at filing their own taxes. If you have done it on a regular basis throughout most of your life, then there is a good chance that you may be familiar with how to do it. It is important to remember that filing tax information for a business does differ from filing it as an individual, however. While some individuals are fine with doing it on their own, there are others who do not even know where to start. If you have a degree in accounting or a related field, then it is safe to say that you are probably equipped to complete your taxes.

Do You Want to Prevent Scrutiny From Uncle Sam?

Business especially are known to undergo a lot of examination from the government when it comes to filing their taxes. Having your taxes filed through an accountant is really one of the best ways to prevent there from being any errors which could later result in a penalty on your behalf. Almost every business will benefit from using an accountant when this is taken into consideration.

Do You Want Tax Breaks You Wouldn’t Know About?

If a bill gets passed that you have not yet learned about, you may not be able to benefit from a tax break. Accountants are kept up to date on some of the different factors which may lead to tax deductions for all types of businesses. If you want to save money on your taxes in the long run, visiting an accountant may be ideal for you.

There is no doubt that an accountant can be highly beneficial for almost any small or large business. Whether you want to prevent your business partner from stealing or hiding any money or you want to ensure that your business’s taxes are correctly completed, it is a great idea to use an accountant. However, this is not to say that every business needs one. If you have filed for taxes in the past, there is a good chance that you may be familiar enough with the process to not need an accountant.

Five ways a small business owner can buy more time and finish earlier tomorrow

Small Business Owner

If you could buy anything in the world what would it be? The most valuable thing in the world is time. If you had all the money in the world to buy anything you wanted you would buy time if it was available. You can’t buy more time and add it onto the end of your life, but you can definitely buy time right now. In order to do that you need to start looking at your life in closer detail. When you run a small business the time seems to disappear quicker than you’d like it to. You want to buy back that time so you can spend more of it with the family.

Unfortunately for you, the working day doesn’t seem to end until it’s already dark outside and the kids are nearly in bed. What would you say if I told you it was because you were wasting your time at work? You would probably tell me I’m crazy, but I’m not. If you can find ways to speed up your working day it means you can get home quicker. It means you’ve bought yourself some time. If you have no idea how to buy time we can look at some ways now, so please try them out and see how early you can finish work tomorrow.

Know what you want to do

How many people actually know what they want to do in the morning by the time they sit down at their desk? Once you start planning stuff in the morning it’s nearly lunchtime. You maybe don’t think it’s that bad, but it’s bad enough. Tonight I’d like for you to write down everything you want to get done on a piece of paper and take it with you tomorrow. As soon as you sit down you should work your way through the tasks before you even think and see how much you get done.

Stop wasting time

Most people procrastinate and that’s fine, but there’s lots of ways you can start taking it to the extreme and that’s when it gets detrimental. The Internet is a huge problem for the people who love knowing what others are doing on Facebook. People they probably went to school with but don’t even know. If you use Firefox you can download an add-on called LeechBlock and it will let you block certain websites until lunch or after work.

Eat when you’re hungry

If you haven’t always had your own business you’ll probably be used to having lunch at a certain time. I’m sure you now realize you can have lunch whenever you want, but are you really taking advantage of it? When you are hungry you should eat something straight away. If you sit there thinking about food you’ll be wasting a lot of time, whereas if you ate your lunch straight away you would be working hard again within 30 minutes.

Sending mail much quicker

If you don’t usually send much mail you won’t have a process in place, never mind your own mail department. You’ll still need to have envelopes lying around and you can’t forget stamps. There’s easier options available online and they will save you lots of time. You can use an online mailing service that will let you type a letter up and press submit. They then print off and mail the letter for you and it gives you plenty of time to be getting on with real work.

Can you use two monitors?

There’s something strange about people not using two monitors. I’ve heard all the arguments against it and the one that always pops up is people only have one set of eyes. Apparently a second monitor is useless because people can only look at one at a time. That’s totally getting the wrong idea of what it’s actually for. It’s meant to stop you from switching between windows every few minutes, so think about that carefully before you dismiss the idea.

Just how much money do paid parking lots make?

Do you ever walk past a parking lot loaded with parked cars that had to pay to park their cars there? Did you ever find yourself counting the cars and looking for the price to park in that lot? These people have to be getting rich just by letting you park in their lot for one day!

Let’s do the math then: If you have space in your parking lot that can hold two hundred cars and you charge every car ten dollars a day to park in the lot that is $2,000 per day! If you stay open seven days a week that is $14,000 a week! Why aren’t we opening a parking lot?

What sort of expenses are you going to have? You’ll have to pay the parking attendant eight or nine dollars per hour and then you have to pay taxes on that lot, most likely you’ll need insurance as well. Maybe you’ll want a small house for your attendant to sit in on cold or hot days so that’s going to cost you a little bit but it’s only a one time deal and then the electricity in the house for the attendant because we have to make him happy so let’s knock off $5,000 a month. You are still going to be ahead because monthly you’re going to be making $48,000.

You are going to need to find a parking lot in an area that needs a parking lot so you are sure you are going to bring in all this traffic. Find yourself a parking lot, call an asphalt paving company and let them put asphalt down and give your parking lot a nice clean look. You can have the asphalt pavers come every six months or every year, depending on how clean you wish to make your parking lot and having them repave it for you.

If you are lucky enough to find a parking lot in New York City you’d be a multi millionaire in no time. Do look near trains or bus stations because you will get the traffic of the people that don’t wish to drive their car into work and want a safe place to park it all day so they’d pay you to keep their car safe from harm.

With all this money you are bringing in you are going to be able to open a few more parking lots so always listen for any parking lots that are in a good location and are for sale. Parking lots are money making deals. Once you get your flow of traffic come in, and you are turning customers away from your parking lot, it is going to be time to up your price on the parking spaces. You will see that everyone is going to be willing to pay your price just for peace of mind as to where they parked their car for the day. Don’t go over board on raising the prices but make it a slow process. Everyone will pay.

About the author: Alex is a finacial blogger and writer. To learn more about paid parking lots and the Utah asphalt paving company making them please visit utahasphalt.com