An Accountant Is like a Dentist...2022976
De BISAWiki
Many people don’t visit them until the last minute and it’s too painful to bear any longer. Rather than an uncomfortable 5 minute, 6 month cleaning, we will wait about 5 years or so and end up with a painful abbess and tooth pull that lasts a week and a half. Just similar to a Dentist, I know as an accountant, that my profession is one that makes most of the people cringe. I tell men and women all the time, either you love accounting or you hate it. There really is no middle ground.
I have been in your shoes. I hate the Dentist. I will wait until it feels like my jaw is going to pop right off of my face with pain before I will go into the Dentist. I hate the drilling, the numbness, and the recovery. Lord knows I hate root canals but my hard-headed self will always let it get to that point. The same thing goes for most small business owners that come looking for accounting services. They wait until they can’t tell whether they’re up or down. There is no telling what will bring someone through my office door. Sometimes it is taxes, other times it is a bank or lender needing financials, other times the client has just become tired of the chaos and would like to know if they are making a profit or not.
Do yourself a favor and don’t wait until the last minute. I will give you an example. I know of an instance where a couple went to someone to have their taxes prepared by someone who, when looking closer, was not close to being qualified to do so. First, their 2007 taxes where prepared in a way that had them owing taxes to the IRS when I know that they should not have owed a dime. Second, they were filing separately when this was not the most tax advantageous situation for them. Third, the person couldn’t even get the social security number correct on the return. Fourth, the client didn’t file the 2008 taxes because she was afraid that they were wrong. Fifth, he told them that they should not even think about certain expenses that they DEFINATELY should have been allocating against taxes due. Now understand that they paid this person $400 every time he prepared their taxes, even the year they didn’t file them. They have waited until just recently to do something about it. She had been driving around for months with the paperwork in her car avoiding every tax preparation place she passed. This was a GOOD idea. Luckily, she was brought to us by a friend where her taxes can be prepared by accountants who will do the best for her.
What can I do to help them at this point? Well, just similar to a Dentist helping you with a painful tooth in disrepair, the process will be a bit painful and could have been avoided, but can be corrected. First, I will find every little expense that can be allocated against their income to lower their taxes due and possibly get them a return. Second, I will tell them what to start doing currently to prepare for their taxes in the future. Third, I will go back and amend their old taxes to try to stop the taxes owed. Fourth, I will encourage them to seek organization pertaining to their financials. The problem lies with finding old expenses that might not have been tracked, documented, or remembered. And all of this I will do for under $300 per return. Many times I find over $1,000 in credits for my clients after they have gone somewhere else first. People today, please use an accountant to prepare your taxes if it has more than just a W-2 and some interest income. We are not all expensive and we can bring you more credits than the difference in cost.
Now for these clients that come in for taxes, most end up becoming accounting clients. The reason is because most of the time they have at least one business on the side. If you have a business, you really need an accountant to help you keep those “teeth clean.” I can watch out for those little “cavities” or pitfalls where you could be saving money, using an expense in a way that is more tax advantageous, or keeping everything in line in a way that will benefit you the most in the end. Like your beautiful teeth, nothing lasts forever, but with help you can keep them as long as possible. Any business works the same. We want to help you maintain a healthy and strong company which starts with a healthy and strong financial system. We sit down and go over your goals, strengths, weaknesses, and needs. From here we are able to put together a solution that is right for you and affordable. We are NOT expensive. We are less than the cost of a staff member most of the time and you are getting the experience of a team of persons.
In my next few blogs I will talk to you about some cost reducing strategies, tips, and secrets that can help you and your business in the long and short-run. Be sure to stay tuned for these tips or give us a call and we can help you in person. Blessings Carter Services Plus offers accounting services, bookkeeping services, payroll services, training, marketing advice, tax preparation services, and consulting among various other financial services. Please feel free to call us to set up a FREE consultation to review your current financial situation or to find out if we are the right fit for you.
Mindy is the Owner and CFO of Carter Services Plus, a full service Accounting Firm based in Shreveport, La. She has over 15 years experience in accounts and frequently helps new small business owners start-up and manage their companies. She is known for bringing small businesses to new levels of success through accounting advice, encouragement, and keeping clients up-to-date on the latest tax and financial issues. Feel free to contact Mindy with your questions or comments and she will be happy to reply. You can reach her at the website noted in the article. Good luck in all your endeavors!
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