A couple weeks ago we posted a few reasons as to why you should hire
a professional accountant. In case those weren’t convincing enough,we are adding a few more to this week’s post. The original article was written by Anne Baxter, a Yahoo contributor, in 2009. We
thought we would showcase a few pointers from her original article again because it contains such helpful information. You can read her original article here.
1. If you decide to venture outside the world of cubicle employment, either to work as an independent contractor or start your own business, your accountant can make the transition easier for you by advising howto stay within the limits of what the IRS will allow.
2. If you change jobs, your new job(s) may not be withholding the right amount from your paycheck. In this case, your accountant would ask you to forward the pay stub from your first paycheck to make sure your boss is withholding the right amount. If you don’t do this, you could be on the hook for thousands in back taxes to the IRS. It’s definitely worth keeping an eye on. Don’t expect your place of employment to do this for you – that’s too much to ask, and you’ll make enemies in the Payroll Department.
3. An accountant can help you save money. Look at it this way – your accountant probably knows more about you than even your mother at this point! He or she can help you devise strategies to hide money from yourself, such as automatic payroll deductions into a brokerage or savings account, or over-withholding on your pay. An accountant can also help you to become wealthy. One of the reasons rich people have so much money is because they know the “ins and outs” of the tax system and have skilled professionals to help them make educated decisions. You should, too.
4. An accountant is the one person who will not lie to you about your finances. If you complain to your best friend or your sibling about having $5,000 in credit card debt, they will probably say, “so? I owe $15,000 on my cards. $5,000 isn’t that much. Stop complaining.” An accountant will say, “get rid of the plastic and pay off that debt – now.” They are obligated by law to act with integrity and professionalism, and you can count on them to do so.
5. An accountant can educate you on general concepts pertaining to personal finance. The best way to hire a personal accountant is to ask around. You might not find one you like right away. You should hire one who can explain complicated concepts to you in language you can understand. One thing you should not do is have one of those monolithic tax preparation companies prepare your returns for you. Many of them are not skilled at handling complicated tax issues and they might really mess you up. And please don’t hire anyone who advertises on TV. Make sure you’re working with a credentialed, experienced professional, and then you’ll have solid advice on which to rely.
We hope you found this article helpful. If you did, be sure and let us know below in the comments!
