My business has grown to the point that the outside accountant (1 man ) I use can not handle my load---should I -Use a large outside firm (CPA's) or hire my own full-time accountants on staff.............Some background: at present I am at 27 employees total-working out of two offices-all sales are large purchases and average about 300-350 of them a year......any help appreciated
Question for the Accountants/Bookeepers out there
- Thread starter worm44
- Start date
worm44, looking for advice myself, sorry for intruding.... if it matters i can start my own thread.
ques: how much, if any , can be deducted from taxes if i have a home office ? i work for hilti, and there is no local store so i work from my home.
ques: how much, if any , can be deducted from taxes if i have a home office ? i work for hilti, and there is no local store so i work from my home.
worm44 said:
you should offer that position to Vinnie..
he seems to do a fairly accurate accounting of your various seasonal SMASH plays..wink=just teasing..
I would love to work for the worm :clap:
But I'm out now and don't want to go back to prison. :mj07:
Besides I have been exiled from the east coast and the witness protection plan does not allow me to go back. :sadwave:
I can however still visit the west coast :scared
Will be there in March maybe I'll look you up
But I'm out now and don't want to go back to prison. :mj07:
Besides I have been exiled from the east coast and the witness protection plan does not allow me to go back. :sadwave:
I can however still visit the west coast :scared
Will be there in March maybe I'll look you up
ARE THEY INDEPENDENT-HIRE A BOOKEEPER WITH A ACCOUNTIN DEGREE- FOR 14-18 a hour- to bundle- what software are you usieng- i have 41 locations and 1 comtroller but 3 bookeepers who do 90% of the legwork- my comtroller job is to hide money- if your not to that point get a couple good bookeepers.
Worm - depending on the work you could hire any combination of bookkeepers/CPA's. I would suggest engaging a CPA for your tax work and have the bookkeeper do the day to day things. This way you pay the premium for the service you need the most. (ie. you don't want to hire a CPA to be an accounts payable clerk).
Elvis - using your home as your place of business vaires. If you are self-employed or an independant contractor, certain expenses of using your house are used to offset income. If you are a salaried employee but work from home, you need to jump through a few hoops to get a benefit. Start here: http://www.irs.gov/publications/p587/index.html
Get my e-mail from Jack if you want to discuss further.
Elvis - using your home as your place of business vaires. If you are self-employed or an independant contractor, certain expenses of using your house are used to offset income. If you are a salaried employee but work from home, you need to jump through a few hoops to get a benefit. Start here: http://www.irs.gov/publications/p587/index.html
Get my e-mail from Jack if you want to discuss further.
sounds like your in the one close type business. That means everything depends on leads and sales. I feel you need to put your resourses in the marketing and sales because that can change fast. I know that from failing in my business. Hire an inhouse bookkeeper...
If you?re actually looking for an answer to this on a gambling message board, then, yes you should hire a controller in the 50k-60k range who has experience in the industry. Accountants are at a premium right now in some big cities, so you may have to pay more, but I don?t think Buffalo would qualify as they?re in the steel corridor and most operations have moved elsewhere. Let him figure out how many grunts he will need and let him lead the hiring process. No matter how long the guy is with you, always sign the checks and always check the bank reconciliations, no matter how big you get. Don?t go to a bigger outside CPA firm as they?ll charge you more than an employee would cost and you won?t have them full time.
On the other hand, if this was just another post for you to let the madjack?s community know that you, again, have a business, then I can assure you that we all continue to be impressed.
On the other hand, if this was just another post for you to let the madjack?s community know that you, again, have a business, then I can assure you that we all continue to be impressed.
While I'm not an true "Accountant", I've been implementing accounting software for many years, so I've seen hundreds of companies and how they work. I agree with most of the advice you received so far. Keep an outside CPA to review your books and do the corporate taxes and keep up with the changes in laws. As far as hiring someone, it sounds like your transaction volume isn't that high, so your basically in the spot where it becomes hard, too big to do it yourself and too big to efficiently have a one day a week outsider do it, but too small to go get a full time competent controller. Probably the same story with your software, getting to big for Quickbooks/Peachtree, to small to go out and get a real package. If you do decide to hire someone I wouldn't worry so much about alot of experience in the industry. Accounting is accounting, obviously if you are doing either manufacturing and or project accounting they'll have to know some of that, but in general if they know accounting they'll do fine after a month of learning your business. I don't know your budget or what part of the country you are in, but if you don't go get someone that has previously been a controller and go ahead and pay the big dollars, I'd definitely look for someone with an Accounting degree from a real college that has been a staff accountant (only a couple of years, any longer an there is a reason they were a staff accountant for years) and wants to be a controller. Avoid someone with only couple of years experienc and a finance degree, the whole "a finance degree is just as good" is a myth. (I have a finance degree and it took me years to actually be competent in Accounting) Whether or not they have their CPA is up to you. It'll cost you an extra 10k and they might not be any smarter. In order to get the best talent for the price I might I might look for someone a couple years out of good school, worked in accounting at a small company (large company could mean they know how to do only one thing), that is in the process of studying to sit for their CPA, looking to progress their career. If you offer them an opportunity with a job title of "Controller" you'll probably be able to get some serious talent and pay a lower salary. Getting your first full "Controller" position is important in an accountants career so anybody with real talent looking to do big things with a career, will consider your position for less money, downside to that approach is they'll probably try to move on in two or three years. Best of luck with your search.
there's got to be someone local... :shrug:
here in LA there are at least 2 unemployed accountants in every Starbucks here.. :mj07:
starbucks.
here in LA there are at least 2 unemployed accountants in every Starbucks here.. :mj07:
starbucks.
