courtesy of flickr.com – Winston-Salem Tax Service
Few things are as agonizing as trying to figure what the money situation is with your business, especially around tax time. This is why most companies, even super small ones, employ the skills and know-how of an accountant. They free us up to do what we love while they handle all the craziness of money.
However, sometimes we take them for granted and start assuming we can just dump our receipts off with them and go our merry way. But they’re people too, darn it! They deserve our respect, and we can show that by being prepared when it comes to finances.
Here are 5 ways you can help out your accountant the next time you see them.
Study Up
Yes, we know the point of hiring an accountant is to NOT have to know a bunch of technical jargon. However, studying up on finance and reading reports on new tax laws won’t kill you. Plus, as a result, you’ll be able to follow conversations better during your meetings.
Now is a great time to start, too. During tax time, money is what seems to be on everyone’s lips. By reading a little each day you’ll not only have clearer talks with your accountant but can help shape your tax goals. Try Outright’s Bottom Line Blog for simple, small-business friendly accounting talk that won’t bend your mind.
Ask Questions
People who love to play with numbers universally understand one thing: 99.9% of people don’t like to play with numbers! So when it comes to talking about numbers, they know you’re one equation-filled sentence away from mentally checking out. Your accountant will probably know if you don’t fully understand something and are saying “yes” to placate them, so you might as well ask your questions anyway.
Know What You Want
What’s the finish line for your business? For a lot of people it’s “to sell things,” and this is why many businesses suffer. To really succeed, you have to have goals, both short and long term. The last thing your accountant wants to hear is you say you want to “be a gazillionaire” as your aim in life. Search your inner being and really figure out where you want the company to be in 5 or 10 years. Your accountant can then help you plan accordingly.
Organize
If your organization plan right now is “the cardboard box next to my desk,” it’s time for a new plan! Just like you don’t sell to just one customer, your accountant undoubtedly has multiple clients. And when each client hands in a box of random receipts it means it’s going to be a very long day for them.
Stand out from the crowd and grab a cheap organizer. Put everything where it belongs: expense receipts, payments to contractors, etc. It will help both your accountant and your business run as smooth as silk.
Be Open to Change
Sometimes your accountant will make, what seems at the time, outlandish requests. They could include changing the monthly bills your business incurs to completely redoing your tax strategy. Whatever it is, remember to keep an open mind!
Unless they’re suggesting something unscrupulous, your accountant has your best interest in mind. Pushing against it may cost you money in the long run. Be sure to ask questions of course, but go into the discussion with the idea your money manager may be on to something!
Need a way to make tax time less taxing (for you AND for your accountant)? Then sign up for free at Outright.com today!
This post is brought to you by Outright.com, the easiest way to manage your small business finances online!
