A “Taxing” Situation

jordan — Mon, 07 Jun 2010 07:11:56 +0000

You own a small business, and it’s growing. When you first set up shop, you were a “one-man band.” You went out and made sales calls for most of the day, came back to make collection calls before the day was over, and probably provided your company’s service or supervised the manufacture or distribution of your product as well. In the evenings, you did your bookkeeping. And in the morning, you started all over again.

Time went on, and your business began to grow. You hired a sales rep, and you were relieved to be shed of that responsibility. But as your new sales rep showed his or her effectiveness, adding new accounts and boosting the orders of existing accounts, you found yourself spending more and more time on bookkeeping and collections. Finally you decided it was time to hire a bookkeeper.

That was when you started to think. Your thoughts turned first to the fact that if you brought a bookkeeper onboard, whether full-time or part-time, you were going to have to pay his or her FICA and unemployment. You also were going to have to find room for another desk and chair, add another phone, and more.

But it was the tax situation that was predominantly eating at you. You didn’t want to be held responsible for those social security contributions, the morass of paperwork involved (even if your new bookkeeper actually did the work, you’d still have to pay him or her for doing it), the forms to fill out…. Ick! Taxes! Ick! Paperwork! Ick! Forms!

And if you’re really smart, that’s when you realized that the ideal solution was to engage the services of a virtual bookkeeper, an offsite worker who might be a sole practitioner or a worker in a larger company, but someone knowledgeable about bookkeeping, billing, taxes, forms, and all the other intricacies… but whom you wouldn’t have to list as an employee, pay FICA and other deductions for, fill out forms for, or otherwise get entangled in legal requirements for.

It’s thinking like that that got you to where you are now, thinking like that that will get you ahead in years to come, and thinking like that that, if it hasn’t already led you to engage the services of a virtual bookkeeper, will lead you in that direction now.

It’s certainly the answer to your “taxing” situation.

Virtual Assistant Bookkeeping » tax

A “Taxing” Situation

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