do u use an accountant?

Discussion in 'Business Operations' started by bobbygedd, Jan 18, 2005.

  1. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    we have : quarterly sales tax, quarterly payroll tax, personal tax return, business tax return. my accounting fees are in the neighborhood of $1500-$1700 a year. do you all use an accountant, or do you do it yourself?
     
  2. Precision

    Precision LawnSite Silver Member
    Posts: 2,995

    Starting this spring I will be using quickbooks payroll for my payroll stuff. Should run about $50-60 per month. I use an accountant for the year end stuff and doing my taxes. So far it is fairly cheap (my business isn't complicated yet)and certainly not worth the hassel to do it myself. So far I am at $300 but I still need to do my taxes.
     
  3. Creative Lawn Care

    Creative Lawn Care LawnSite Senior Member
    from NC
    Posts: 271

    I only use one for the year end stuff. My fee is more in the $250 range.
     
  4. DennisF

    DennisF LawnSite Bronze Member
    from Florida
    Posts: 1,381

    Being a solo op I don't need an accountant. But it does take a lot of my time trying to keep the books right. I probably spend 2-3 hours per week during the mowing season just keeping track of finances.
     
  5. Throgmorton

    Throgmorton LawnSite Member
    Posts: 52

    Not just an accountant-but a CPA. A good one that works in the grey areas will save you lots of tax dollars.
     
  6. Mo Green

    Mo Green LawnSite Bronze Member
    Posts: 1,487

    Going to use a CPA for tax filing purposes only. Don't need one for more than that.
     
  7. PMLAWN

    PMLAWN LawnSite Gold Member
    Posts: 3,535

    Use a payroll service--$75 per month
    Also use an local accountant for business.
    Back home in Chicago we have a CPA that takes care of all the family stuff.

    For those of you wondering if it is worth it, My wife is a CPA and we farm it out because it is cheaper to have someone else do it and it is great to have a 3rd party to keep an eye on things.
     
  8. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,297

    I have been using Quickbooks Pro for many years. Invoice your customers, recieve payments, enter your expenses as they occur, do your payroll($ 169 last year ) your computer will spit out your quarterly tax reports in minutes. TurboTax ($69 = 20 rebate) and a few hours will do your taxes. I couldn't stand to pay real money for someone to mind my business, and turbo tax will walk you right through the process. YOU have to supply the cpa with all the numbers anyway. you just need to decide HOW you want to depreciate your trucks and equipment. Turbo Tax will do the math. You can use last years return as a base for consistency and to answer questions that you may come up with. I think its important to know how the process works. It will keep you from overlooking something.
     
  9. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,073

    I do the monthly sales tax, and send in the quarterly payments.
    However, I turn in all paperwork neatly organized to our cpa for him to file our taxes.
    This costs us around $250.00 a year.
     
  10. HOOLIE

    HOOLIE LawnSite Gold Member
    Posts: 3,981

    I still do my own, but just solo, sole proprietor. No doubt I'll hire a CPA as I get larger. I buy the Ernst & Young Tax Guide every year, it explains it all pretty well for a SP.
     

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