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Accounting Basics II - Hire Professionals on Day One
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In part two of this 3-part interview with my accountant Colette on the Smart Cleaning Tribe, she dives deeper into the role of the accountant. In one question, she explains the benefits of hiring an all-in-one bookkeeper and accountant to help the business with tax planning and prep way before tax day. In another question, Colette surprised us all. "When should we hire an accountant?" Colette said that she is a big believer in hiring insurance, tax, and legal professionals in your business on Day One. Yes, it will cost you in the beginning. But the cost of fixing bad books or hiring a legal team after the fact or not having insurance coverage and an event happens is WAY more expensive. She is an advocate therefore of hiring these 3 professionals on Day One. Colette answers an interesting question about state versus federal tax laws. Plus, I share how Colette personally bills me for services. I think it's brilliant as I can budget accounting all year at the same price. It's a win for the cleaning business owner. From her side, she has reliable recurring income. That's a big win for her. I highly recommend an accountant that bills on a monthly retainer.
As mentioned in episode 1, feel free to reach out to Colette with questions or to hire her for accounting services. You can find her at CMBA Solutions.
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