"I have a $13k tax bill"
- kyle75976
- Aug 16, 2022
- 1 min read
I'm lucky enough to work remotely. The last few weeks we've been in the midst of bathroom renovation with a contractor that looked like he was barely out of high school. We started talking and naturally since I am home every single day the subject of "what do you do" came up. I told him, as I tell everyone "I'm basically an accountant".
The further into the conversation we go and the more I dig I learn he is another business owner that operates on the "shoebox" method. He then tells me that he owes $13k in taxes from his profit last year. Naturally he continues with "I definitely didn't save $13k".
With a little planning and some up front leg work this could have all been avoided. There are a million and one things I could've done to help this guy and his small business, but now he's sitting on a fat tax repayment plan and still no financials for planning or to really know if he's making or losing money.
If this even remotely sounds like you - you probably need a bookkeeper.
Reason #17 why you need a bookkeeper.
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