April 11, 2014
In my mind there is one hire that is more important to your business than any other. What’s more, this person should also be the first hire you make – before you’ve even started your business in fact. Got any idea who I’m talking about?
Unless you come from an accounting background, the most important and the first person you should hire is a certified public accountant. Whether you bring this person on full-time to your staff or contract out to them is up to you, but the person in this role will be able to help you determine what the right business entity is for you, will be able to help you set up an accounting system (that either you or a bookkeeper can maintain), make sure that your business taxes are paid (while looking for all legal ways to minimize your tax exposure), and help you make business decisions with a full understanding of the tax implications.
Yes, CPAs aren’t cheap, but they may very well be the best money you ever spend in your business.
And, with tax day just around the corner – here’s a little tax humor for you: