Understand what your accountant is talking about
Millions of small business people and individuals have visited and will visit their accountants over the coming months.
And plenty of them will come out with a bemused look on their face that simply says: What was all that about?
A good accountant is a key part of a businessperson’s team – this is one thing you should outsource as quickly as you can afford to.
But simply handing over everything to your accountant and putting your blind trust in them is a potential road to ruin for a number of reasons.
Say your accountant misses a vital deduction that you could have claimed – you’ll be furious.
Say your accountant pushes too hard with a deduction you maybe shouldn’t get, and the Tax Man launches an audit – you’ll be furious.
Say your accountant stuffs up your financial reports and you believe you are going better or worse than you really are – you’ll be furious.
It’s crucial that you have a really good grasp of the numbers behind your business and the key rules and regulations that govern it. Don’t go blank when your accountant talks tax – work hard to understand as much as you can.
Get it done – today!