This is not that surprising, as most small businessmen and women dip into savings and stop retirement savings to fund their business. See this posting by Joyce Rosenberg from AP in MercuryNews.com:http://www.mercurynews.com/ci_23636814They promise they will start saving for retirement again, but the lost compounding on their retirement investments will absolutely hurt them hugely long term. For financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPAs Charging for Off-Season Work
There is a great range of off tax season service fees and how they are charged. Because it is off season, do you charge less or more? See this article in AccountingToday by Jeff Stimpson:http://www.accountingtoday.com/taxprotoday/news/charging-for-off-season-work67365-1.html?ET=webcpa:e7377:204199a:&st=emailMy personal feeling is to charge a consistant rate throughout the year; then I don’t have to figure out if I charge the seasonal or offseasonal rate for stuff. I also will give a discount for new work throughout the year. For financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
How Entrepreneurs Should Use Their Accountants
This is a good idea; don’t just have your accountant dump numbers on you. Have them explain what this means. This posting by Brian Hamilton in AccountingToday talks about this further:http://www.accountingtoday.com/news/Entrepreneurs-Use-Accountants-67388-1.htmlAccountants can take a wealth of information and try and make sense of it for entrepreneurs to act upon. For financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com