Recently I decided that I wanted to look into beginning my own house based enterprise. My husband was supportive of the proposal but thought that we should begin by contacting an accounting service. I told him that I did not think it was essential to involve an accounting service immediately, I didn't even know what versions of business opportunities were obtainable. He felt very strongly that if I was going to do this I should get started out correctly.

I spoke to some of the local business owners to find out who they utilized for their accounting service. They all agreed that it was useful to have a neighborhood provider for your accounting service so that if questions come up they can be addressed rapidly. One of the reasons for starting the business was to help get rid of debt & a local accountant will be available for guidance in receiving all of the tax breaks permitted. Also when it comes to tax time you don' wish to be a long distance from your accounting service in case you have to provide additional receipts or other factual information. I contacted a neighborhood accountant & made an appointment to see him.

At the meeting I said that I was looking at starting a home based business with the hope that after some time it would help in getting rid of debt and if he had any advice for how to get rid of debt I would welcome it. I told him that at this time I did not know what particular business was going to be, but I was beginning with my conversation with him. He told me that an accounting service could do a range of tasks, depending on what the business is and what tasks I would be comfortable & knowledgeable about doing by myself. He said that if I was going to have employees I would need to have a tax identification number, which he could get for me. He said that with his accounting service he will do all the bill paying & accounts receivable for some of the community business owners & for others he only does their taxes, again it actually depends on aptitude & comfort level of the individual. He advised me to hang on to every receipt from expenses as I started my business so that I would have it for tax time. He provided me some good ideas on how to systematize my business files so that they were be the most useful to me right from the beginning of the business, rather than trying to systematize things down the road.

I'm still in the very beginning stages of getting started with my house business, but the accounting service discussion helped me with great ideas of how to organize the paper-work right from the start. Plus I know that I've a fantastic resource at my disposal for my accounting questions.

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