Should you always listen to accountants?
Accountants… of course they have their purpose and play a role in assisting with your business, mostly with tax. But there are a lot of trades business owners that aren’t their biggest fans, and for good reason, they don’t always have the best interests of your business at heart. It is important to know what accountants are trained to do and why you shouldn’t always take their advice.
In this episode you’ll learn why advice from accountants can sometimes results in your business going backwards. Often the recommendations from accountants are to SAVE your business money, but not to MAKE your business money. The financial statements look at what you spend your money on as either a form of income or an expense, but sometimes you have to spend money to make money, and “investment” doesn’t seem to be a concept in an accountants wheel house.
You still need an accountant to tell you how much tax to pay but be weary of some of the advice they share with you. It can be easy to assume an accountant knows what they are talking about, but you shouldn’t assume a degree means expertise, they don’t always deserve to be on the pedestal they are put on. Listen in to the episode to find out what type of accountant you should look for to make sure your business is growing instead of just going.
WHAT YOU’LL GAIN FROM IMPLEMENTING TODAYS PODCAST:
- An understanding of why accountants advice isn’t always great
- A criteria for what type of accountant to look for
- New confidence for visiting the accountant and getting the most from it
LINKS MENTIONED IN THIS EPISODE:
- Join our FREE private community of trades business owners in our Facebook group
- Subscribe to our YouTube Channel
- Get a copy of the Profitable Tradie book
- Ready to take your business to the next level? Fill in this form to see if what we do will work for you and your business
Thanks for joining us this week. Want to subscribe to The Profitable Tradie Podcast? Have some feedback you’d like to share? Connect with us and leave us a review with a 5-star rating. If you think that’s too high, tell us why that is, we’d love to hear from you! Just shoot me an email with the word ‘PODCAST’ in the subject line to tony.fraserjones@profitabletradie.com
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