Bookkeepers and accountants are professionals who specialize in financial records and tax preparation. They can also provide other types of accounting services, such as payroll processing, inventory management, and business planning
They cost money.
If you're just getting started with your small business, hiring a bookkeeper or accountant isn't something you should consider right away. It's better to focus on growing your business first before you start spending money on things like bookkeeping and taxes.
They take time away from running your business.
If you're just starting out, you probably won't make enough money to justify hiring a bookkeeper or accountant. However, once your business starts generating at least $10,000 per year, you should consider hiring one.
They won't help with taxes.
A bookkeeper will do more than simply keep track of your income and expenses. He or she will also prepare tax returns and provide advice on how to minimize your tax liability.
They won't help you manage cash flow.
If you're just getting started with your business, you probably don't need a bookkeeper yet. Instead, focus on building up your customer base and growing your business. Once you've established yourself as a reputable company, then you'll be able to afford to pay a bookkeeper.
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