When starting a new business - accounting?

[Newcutter77]

I've decided to start a small lawncare business - part time while I work my other full time job. I want to start out small with a handful of accounts this year and hopefully by next year have up to 15 or 20 weekly accounts.

Before I do anything though - I want to talk to a CPA and have my bases covered. Do any of you have any recommendations as to what I should look for in talking to a CPA? Such as should I shop around? Are there many out there that could or would rip me off? Are some cheaper, more expensive and if so are the more expensive ones worth it?

I don't really know too much about the whole business side of it (can't say I'm too much of a pro at the lawnmowing part of it either lol), but I am bound determined to make this work out for me in the long run - so I want to do it right.

Any comments would be appreciated. Thanks.

[Phil Nilsson]

what I should look for in talking to a CPA? Such as should I shop around?

Look for a CPA who will even bother with a part time lawn guy, most are too busy to deal at that level. Part time, mowing ... you are buying a "part time job" ... not really running a business ... my advice? ... JK Lasser income tax guide.

[cjm2783]

i agree, just keep it under the table until you get going really good.

if you just want a CPA, then you need to shop around and find one who deals with contractors and such. if you have any friends who own a construction business or whatever they might can tell you who to go with.

cjm

[Mo Green]

I am part time also, and checked around a bit before I settled on a CPA. There are ways that they can rip you off, but If you keep a close eye on him and your money, there's not much he can do.

[Newcutter77]

So I'm to consider not even messing with paying taxes or tracking my expenses, income, etc while dealing with 15 or so jobs a week.. while I might expand and go full time in the future (5 - 10 years from now) if everything goes well?

After doing some reading here - I've been under the impression that it's a good idea to stay on top of your numbers regardless of where you're at, and that it's a good idea to get a system down ASAP. It's like I want to get insurance and have commercial plates on my vehicle, etc. If it's not a big deal then so be it, or if I can handle the numbers myself while it's not so complicated then so be it.. but I would like to hear from a number of other people regarding this before I go trying to pull one over on uncle sam. Everybody has to start somewhere though.

Thanks for the comments so far. Keep them coming.

[Mo Green]

Keep good books regardless of being legit or not, that way you can always know how well, or how bad, you are doing. I am part time, but I am legit and would suggest the same for you. If for no other reason than to be able to get insurance for your business. All of the CPAs I talked to were not "to busy" to handle my small part time business. They were all eager to help. My money spends as well as anyone else'e.

[ACutAbove 217]

i agree, just keep it under the table until you get going really good.

if you just want a CPA, then you need to shop around and find one who deals with contractors and such. if you have any friends who own a construction business or whatever they might can tell you who to go with.

cjm

Are you advising him to not pay income tax or sales tax on his part time income? If so, isn't that the very same activity that most on this forum define as a "scrub"? Why would he not want to be legit?

[Newcutter77]

Thanks again for the responses. I've decided that I'm going to go into this legit. Have insurance, deal with uncle sam, ...pay the dues. I'm too paranoid and tend to have too much bad luck when I do stuff I'm not supposed to lol.

Nevertheless - I want to get the proper system set up for dealing with the numbers, too. And this isn't something I just kinda want to be winging it on even though I'm doing it part time.

So I'm thinking - if I don't really need an accountant then maybe I can use software for my laptop to keep track of things until I do get the ball really rolling. Messing with computers is fun and I don't mind data entry. I've checked on quickbooks and I don't like some of the reviews I've seen about it on the net. It looks like something that constantly needs updated with expensive updates, any true functionality needs purchased in expensive add-ons, and they don't even offer support without a fee Not to mention the fact that I've read it is riddled with disabled features which constantly advertise those expensive add-ons. Ugh.

I've seen a few positive comments about groundskeeper pro here (though I have also seen that people here also use quickbooks?). It's all a bit confusing if you ask me. Shoot - if I have to I will break out MS Excel and make my own thing. I know how to do real basic stuff in there, but I'm not sure I would be tracking all the data and info I should - and in the right way.

Or again if an accountant is still something I should consider than I would still consider going that route too. Also... could I keep track of the accounting with the software and have the accountant deal with the taxes and help me out from time to time? This is something I want to do long term and may want to grow into more than just a part time thing. So again - I don't want to get started off on the wrong foot with the business side of things.

[wrestlingcoach]

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