I spoke with my CPA the other day and he informed me of roughly how much I would owe at the end of March when my business taxes are due. I almost had a coronary. The first few years of my professional career, I made less than I’m going to be paying in taxes.

If you’re running a business, make sure you get a CPA. The good ones will give you free advice all year and charge you for your taxes at the end of the year. Eventually, you’ll probably need a full time accountant, or at the very least, a part time accountant. Having a CPA who you can rely on for advice is crucial though. This year alone, he’s probably saved me about $10,000. I suspect the trend will continue in the future.

Hope all of you had a great holiday. I was back in my office at 6:30am this morning. Nobody ever said running a solo business was easy.

2 Comments

  1. NoName on December 26, 2006 at 8:38 pm

    After posting a comment, I was presented with an error:

    XML Parsing Error: no element found
    Location: http://miketaber.net/archive/2006/12/26/752.aspx
    Line Number 1, Column 1:

    … just thought you’d like to know. 🙂



  2. Mike Taber on December 29, 2006 at 5:53 pm

    Thanks. I’m going to be upgrading my blog engine in the next week or so. Hopefully that will take care of it.



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