Why It's Important to Meet Regularly with Your Accountant

For a lot of people, regular accountant meetings sound as fun as regular trips to the dentist. Many associate meeting with your accountant with having to fork over a lot of money in taxes, and who enjoys doing that? But there's no reason meeting with your accountant needs to be painful. In fact, regular accountant meetings can save you money and actually make tax time less painful (Hmm, sounds like the advice your dentist offers, doesn't it?). Meeting with your accountant can be a pleasant and productive experience for both parties. Read on for more tips why regular accountant meetings are a good idea for everyone involved:

-Meeting with your accountant a few times per year will ensure nothing falls through the cracks, which can cost you dearly at tax time. Your accountant will ask you for a "state of the union" at your office-what kind of business plans you have, your financial situation, amounts of your tax deposits as well as your tax strategies. He or she will be able to identify any red flags that can easily be addressed ahead of time instead of in the spring, when everyone is busy, stressed and trying to meet the tax filing deadline.

-Even the most involved and attentive owner of a small business can't stay up to date on all the changes to the tax codes and all the news impacting tax returns. But that's all an accountant does, so he or she will be able to alert you to any modifications you should be aware of and keep in mind before you file a tax return. This kind of information can only be passed on to a client during regular accountant meetings.

-The relationship between accountant and client is no different than any other relationship-communication is key. In meeting with your accountant, both sides need to contribute, offer up ideas and discuss them in a cordial yet involved setting. The accountant will be encouraged knowing the client is proactive, hands-on and interested in the accounting of his or her business 365 days a year instead of one. And the client needs to know the accountant has his or her best interests in mind all year long and is always seeking ways to save money.

-The more often you meet with your accountant, the less work both of you will have to do come the springtime. Taxes are like anything else-time management is essential to making the process as smooth and pain-free as possible. Regular meetings between you and your accountant will keep your business prepared for any tax liability, and ensure you are fully aware of what to expect once your tax return has been filed. Think of it as training for a marathon-nobody in his or her right mind would roll out of bed and try to run 26.2 miles with no training, but building up to the big day will greatly improve your chances of success. So give your accountant a call today-it'll make things easier come tax time for both of you!

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