Hiring a pro does cost money but it might be more affordable than you think and save you money in the long run.
Why hire an accountant?
You aren't a trained accountant. We know that everyone is learning everything online. But the experience and training really come in handy when dealing with your money. Also there are laws surrounding your money when you start a business. Those are laws you'll want to be in compliance with but you might not even know about. Secretary of state, what?
Hiring an accountant is especially important if you have employees. There are taxes that you may not be aware of. However, even if you are a one man show there may be deductions or other things you are unaware of.
Okay, How much is it going to cost me?
It really depends. It depends on how many services you need, are you hiring employees are you a larger company, etc. Also are you hiring an accountant or a CPA?
A CPA may charge $150-250 per hour vs an accountant who may charge $30-50 per hour. So it's important to know the difference and determine whether you need a CPA or an accountant.
If you meet with an accountant for a consultation and realize you can't afford to hire them fulltime you may still want to hire them for a few hours now and then. It's a good idea to have an expert look over your books or help you with your accounting software.
Okay, How much is it to work with RITBSINC ?
For accounting services we charge by month rather than by hour. And when you've been with us for over 6 months you get free tax preparation.
The Essentials// $200-$400 a month
Accounting software setup
Full Charge Bookkeeping Services
The Standard// $400-$500 a month
everything included in the first package
Bank and credit card reconciliation
Budgeting and cash flowing
EFTPS set up / Payroll processing
Determining asset depreciation
Federal and State reporting
Estimated tax consultation
State sales tax filings
The Premium// $500-$1,100 a month
everything included in the first two packages
Payroll processing set up
Payroll tax preparation and filing
Small Business set up
Tax planning and compliance
Year end reporting: W2’s, 1099’s etc.