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The Top 10 Secrets The IRS Doesn't Want You to Know

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Archive for the ‘Using An Accountant/Bookkeeper’ Category

How difficult is it to do taxes for small business with one employee?

sunny side up asked:


My husband and I have a small business (construction) and we have a book-keeper who does our book-keeping and payroll for one employee. Im considering attemptiing to do it myself to save money but Im a little intimidated. How diifcult is it to do? Thanks =]

SBTI Solution: There’s a lot more to it than just data entry.  Bookkeepers and Accountants have a thorough knowledge of business expenses, financial statements, balance sheets and profit and loss statements. If you want to do it yourself, I would suggest you use Quickbooks, which is accounting for non-accountants and I would also suggest that you take a class so you will be sure that you are doing everything right. I had one client who didn’t understand one of the categories and entered it on his tax return and triggered an audit and ended up with abig tax bill which could have been avoided.
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