Tax season is upon us in the United States; and it’s never fun. (Hey GDB readers from around the world, help me out here: when is tax season – if any – in your country? Leave a comment!)
But today, I wanted to answer a question I hear all the time from freelance designers: “Do I really need an accountant?”
Can’t a competent freelance designer just do their own taxes?
Today, I’d like to take a stab at answering that question and then turn the mic over to you so you can share your experience and opinion with me.
I’ve never used an accountant
Here’s the deal:
I’ve been freelancing for a while now and I have never hired an accountant to do my taxes. Not one time.
But every April, I find myself sitting at my computer with some free or cheap tax assistance software with bloodshot eyes cursing at the screen because I can’t seem to figure it out.
Revenue and expenses? Piece of cake.
Assets, amortization, depreciation of company property? Not even close to cake.
Why I’m using an accountant this year
But this year is different. Last year, I had the highest growth in my design business, my wife and I bought a house, and it was the first year in a long time when I worked a full-time job other than freelancing (remember, don’t hate).
So this year, I want to make sure I get it right. I want to make sure my finances are in order as much as possible.
Which means I’ve hired an accountant.
Worth the money?
I guess I’ll know after this year if it’s worth the money to hire an accountant. If you’re still trying to decide, keep this in mind:
Every minute that you spend working on your taxes is another minute you’re not working on your clients’ project. Working on taxes are not billable hours.
Each of you has to ask yourself if it’s worth the money, but as for me this year–I’m getting an accountant.
What are you doing this year?
Do you hire an accountant during tax season? Why or why not? Do you think it’s worth the money? Have you had any good or bad experiences? Leave a comment and let me know if I made a good decision!