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Is an accountant really necessary?
I am a new member as well as a new “official” small business owner. For the past 5 years I have been a club promoter for several night clubs in my area. Generally I am paid in cash by the club owners or as a part of my take of the entrance fee of any club I promote. Recently I tried to purchase my first home but was denied not because of my credit score which is good, but because of lack of proof of income. Since then, I have incorporated my business in an effort to have more official record keeping about my income.
My question is: Is an accountant really necessary in the beginning? I don’t think my needs are complex but I tend to deal in a lot of cash and need help to make my business income seem as legitimate as possible to banks and the IRS. I have a guy who does my yearly taxes but my question is do I need a consultant type of accountant and not just a tax guy? Any thoughts?
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