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money matters

Discussion in 'Lawn Mowing' started by sanford, Jan 23, 2001.

  1. sanford

    sanford LawnSite Member
    Posts: 11

    My question has to do with accounting. I know everything I read says I have to have an accountant. My question is about the bookkeeping aspect of the business. I feel confindent enough keeping the books and at the end of the year let a CPA take care of the year end stuff. Any suggestions would be helpfull. Thanks again
  2. thelawnguy

    thelawnguy LawnSite Silver Member
    Posts: 2,412

    If you start with a good accounting program (Peachtree, Great Plains, Quickbooks etc) then at the end of the year just bring your accountant the disk and let em go to work, if you feel more comfortable by using an accountant. His/her fees will be less also, because your ducks are in a row vs a shopping bag full of receipts.

    I am comfortable enough working with tax code that I do my books and taxes myself.
  3. sanford

    sanford LawnSite Member
    Posts: 11

    Thanks for the info, I feel about the same way you do. However, I know what a major issue good accounting practices can mean for a businesses future. Thanks again.
  4. GroundKprs

    GroundKprs LawnSite Bronze Member
    Posts: 1,969

    Go to talk with an accountant about your setup. Maybe you will want the advice of an accountant in the future, and having your records in standard form will be very helpful to the accountant then, and a lot cheaper for you also.

    I spent over an hour with a good accountant 15 years ago, and I wasn't even charged for the advice that I didn't need an accountant. But I did learn several useful things from the visit.
  5. mmorgan

    mmorgan LawnSite Member
    Posts: 51

    If you hire an accountant for your taxes, pick a good one!! Obvious advice I guess, but in the event of an audit, make sure he will "go to bat for you". I have heard of some accountants saying, "gee that's too bad, let me know how you turned out". I feel that it is a good idea to hire an acct. Their job is to know all the tax laws and changes. My job is to run a lawn care company. Paying a professional is many times money well spent. Besides you can write off his fees!! LOL
  6. thelawnguy

    thelawnguy LawnSite Silver Member
    Posts: 2,412

    As with most any other professional, the time you realize you hired a bad one, the damage has already been done.

    Any ideas on getting a good one the first time around? I understand how they like to be creative, but the bottom line is your signature is on the tax return and you as the business owner are ultimately responsible for what happens and it is you, not the accountant, who will serve 30 days (extreme case) or have your property attached if fines and penalties arent paid.
  7. eggy

    eggy LawnSite Senior Member
    Posts: 945

    Ohh my this almost gets me sick....We are growing fast and need help on that end..payroll acounting taxes..ughh..I have to make the time to see one....Do any of you run guys threw a temp agency to handle payroll?
  8. TJLC

    TJLC LawnSite Bronze Member
    Posts: 1,308

    I found my accountant by word of mouth. So far he has been great. He makes me call him throughout the year to keep him posted. Whenever I call he takes the time to help me. I just give him all my stuff at tax time and he takes care of it. So far I feel confident with him. My first accountant I picked at random. What a mistake!
  9. Greenkeepers

    Greenkeepers LawnSite Senior Member
    from NE Ohio
    Posts: 695

    Having an accountant is a good Idea if you don't know what your doing. If you have a clue then I would sugguest doing all your bookeeping all year and take the info to an accountant at year end.


    Why don't you look into a payroll service such as paychex,adp, ahola they do it all for you....
  10. TGCummings

    TGCummings LawnSite Senior Member
    Posts: 773

    I'm a solo operator with a good head for numbers and enough computer savvy I can do all my own bookkeeping and tax prep. In the beginning (oh, 6 or so years ago), I had a monthly bookkeeper and an annual tax prep guy. As soon as I figured out how/what they were doing, I got all the software myself and rolled my sleeves up. I use Quicken Home & Business to track finances then ship it all to TurboTax for the annual business.

    When I stop being solo, I'll probably go back to a tax guy, though. When I grow, I'm going to want the security of the audit protection that goes with a good accountant...


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