If you are starting out as a solopreneur, I cannot overemphasize the importance of hiring an accountant who understands your business. Do your homework and get a good one—it’s absolutely worth it.
Here’s an excellent piece on how to choose an accountant who fits your needs. This is a critical point from the article:
“Imagine this scenario. You hire an accountant based on the assumption that he understands the basics of your business. Then, you find out that he’s never had a client like you before. Instead, he’s only prepared tax forms for wealthy individuals that don’t own businesses. Avoid that possible disaster by asking who the accountant works with.”
My take: I wish I had received that advice before I began as a solopreneur. The first accountant I hired wasn’t right for my business, and he made errors that cost me money I could not afford to lose.
What’s your take on finding an accountant? Accountants, please chime in!