I Can't Afford an Accountant. What Is the Temporary Fix?

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Having a part-time or full-time accountant on your staff is not always possible, especially when you're starting out. However, you also can't avoid your tax deadlines (e.g., state sales tax returns, federal income tax return, state income tax return). So, what do you do?

DIY Accounting & Taxes | www.deductingtherightway.com

DIY tax resources

If you absolutely need to do diy accounting or self-prepare your tax forms, then turn to reliable resources such as
  • bookkeeping tutorials
  • accounting and tax books
  • self-help guides
  • small business forms
  • IRS memos and manuals
  • US Tax Court cases
TIP: Sign up for the same web portals and applications that professionals use (e.g., try the search term 'tax research').
 Deducting The Right Way: Untangling Small Business Accounting & Taxes

Learning about small business tax deductions

Make peace with the fact you'll never gain the same level of knowledge as a licensed business accountant who has years of hands-on experience and one or more college degrees. It's why you need to break down and pay for consultations from time to time (there's no getting around it).

Know you will also become frustrated because the subject contains technical language and a slower learning curve. The tax code has thousands of statutes that become amended or removed, so once you think you've mastered a subtopic, it can completely change.

Read our other article How Much Should I Pay a Tax Preparer?

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DISCLAIMER: Please consult with your accountant, attorney, and financial advisor before implementing any information displayed on this website. DIY research does not replace the advice of a licensed professional who has thoroughly reviewed your file.