Lately I decided that I wanted to investigate beginning my own home based enterprise. My spouse was supportive of the proposal but believed that we should begin by contacting an accounting service. I told him that I did not think it was necessary to involve an accounting service immediately, I did not even know what types of business opportunities were accessible. He felt very strongly that if I was going to do this I should begin out correctly.

I spoke to some of the local business owners to see who they utilized for their accounting service. They all agreed that it was helpful to have a local source for your accounting service so that if questions come up they can be addressed speedily. One of the reasons for starting the business was to help get rid of debt and a local accountant will be available for guidance in getting all of the tax breaks permitted. Also when it relates 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 local accountant & made an appointment to meet with him.

At the meeting I said that I was exploring starting a home based business with the hope that after some time it would help in getting rid of debt & 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 specific business was going to be, but I was beginning with my conversation with him. He informed me that an accounting service could do a range of tasks, depending on what the business is & what tasks I would be comfortable & knowledgeable about doing on my own. 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 does all the bill paying & accounts receivable for some of the local business owners and for others he only does their taxes, again it 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 gave me some good ideas on how to organize my business files so that they were be the most helpful to me right from the first step of the business, rather than trying to put in order things down the road.

I am still in the very beginning stages of getting started with my house business, but the accounting service appointment helped me with great theories of how to organize the paperwork at the start. Plus I know that I've a great resource at my disposal for my accounting questions.

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