Issue link: https://www.ascpskindeepdigital.com/i/691743
www.ascpskincare.com 55 T here are two reasons for hiring or trading with a professional. In one case, you need a professional to handle the issues in your business that you cannot because you simply don't have the detailed knowledge they do. This is especially true with attorneys and accountants. In the second case, you hire a professional for the parts of your business you don't have the expertise to do or for which you don't have time. This is why you might hire a bookkeeper, an administrator, or receptionist. First, how do you choose the right professional? Use the referral system. Ask other business owners you know who they use. They will usually be very honest, giving either glowing or seething reviews. Choose carefully. Hiring a bad accountant or a bad lawyer can really make a mess of your business. Tax audits or unenforceable legal contracts can result. Take the referrals you receive and interview a few professionals in the area where you require help. Interviews ought to be free—no good accountant or attorney should charge you for that initial consultation. Ask them about their credentials. How long have they worked in your state? (Very important for attorneys and accountants.) What does your gut say? Will you be able to work with this person? Do you trust them? As you build your professional network, understand that not every business will need every type of professional listed here. However, it's a good idea to establish professional relationships, even if you don't immediately need services; that way, you have someone to turn to in a crisis. ATTORNEY Find someone who has worked in your state for at least three years, who specializes in corporate law, and who preferably has experience with businesses similar to yours—that is, small service-oriented businesses. Of course, you should ask about his or her rates, but don't let that be the major factor. You will use legal services so little over the course of a year (maybe 4–20 hours a year) that a difference in rates will not affect your bottom line. ACCOUNTANT The main purpose of hiring an accountant is to prepare an accurate tax return. If you do your own personal taxes, you might think it's a good idea to prepare your business taxes yourself. But business taxes are generally much more complicated than personal taxes. Could you wing it and get to the end of the tax form? Probably. But would you get all the benefits and tax breaks, and would the form withstand an IRS audit? Almost certainly not. Use an accountant to prepare your business taxes every year. Choose your accountant using the same questions you used for choosing an attorney (credentials, worked with similar businesses, sense of integrity, etc.), and with whom you work well. With luck, you'll be using this professional for many years. It΄s a good idea to establish professional relationships, even if you don't immediately need services; that way, you have someone to turn to in a crisis.