Why It's Important to Visit Your Accountant
Did you know that May is Visit Your Accountant month?
By May, you and your accountant have finished all your taxes on both the personal and business side. Which makes it the perfect time to review those returns and figure out what’s been going on with your finances. When you talk to your accountant, you want to review how the last year went for you, and you also want to set some realistic goals for the coming year.
A good accountant can help you save money on your taxes, but a great accountant will go the next step and help you figure out the next steps for your business.
Can you imagine having someone on your side who wants you to succeed in your business? Someone who knows how to help you reach your goals? Today we’re going to talk about building that kind of relationship with your accountant.
Interview Your Accountant
When you’re looking to hire an accountant, you need to prepare a list of questions before you meet with anyone.
What is this accountant’s financial philosophy? Do they understand how your business works? Are they enthusiastic about your industry?
Remember, you’re not just hiring someone to do your books for you. Sure, you do need your taxes prepared, but you also need someone by your side to help you get to the next level in your business.
From the person you pay to do your social media, to your retail employees, to your financial advisors, everyone you hire is there to support you as you work towards your goals. So when you interview an accountant, talk to them about how they’ll be able to support you as you advance in your industry.
Invest In Your Future
An accountant who understands your industry is going to give you a huge advantage, and they’re going to help you make more money.
Think of the fee you pay your accountant as an investment in your future.
Sure, you’re paying them for their services. But what you’re getting back from them is so much more valuable. Now, someone who can offer you that return on your investment is going to cost a little more upfront. But when you invest in your accountant, they invest back in you. They’ll help you better understand your business.
Talk to Your Peers
You can learn so much from your peers and other people in the same business as you. Part of your subscription to Money Made Simple Academy is a monthly Q&A session where business owners who are in the same boat as you get together and talk about the industry.
You may assume that you’re meant to compete with your peers, but one of the best ways to grow is to talk to them openly and honestly. When you consider that each business caters to a specific kind of customer and offers a specific type of product, even businesses in the same space aren’t really direct competitors.
You’ll also have a slightly different view on business and life and other things like that. So it’s very important to recognize that what you may think of as your rivals really have a lot to offer you. So be engaged with them in the same way that you engage with your accountant. Ask them questions and take their advice.
Whether you’re interviewing your accountant or a fellow business owner, ask for advice and look for support as you grow in your business.