Episode 14

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Published on:

30th Apr 2022

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:

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About the Podcast

The Profitable Tradie Podcast
For Trades & Contracting Business Owners Who Want More Profit, More Freedom, and Less Stress
If you run a plumbing, electrical, HVAC, or any other trades business and you’re tired of long hours, cash flow headaches, and pricing battles, this podcast is for you.



Join Tony Fraser-Jones and Phil Smith from Profitable Tradie as they break down straight-shooting strategies to help you make more money, work fewer hours, and get your business running smoothly—without the usual headaches.



We tackle the real challenges every trades business owner faces:
✔ How do I find and keep good techs when everyone is hiring?
✔ What do I do when customers don’t pay their invoices?
✔ How do I charge what I’m worth without getting undercut?
✔ Should I buy or lease my next truck or van?
✔ How do I get my crew to stop scrolling their phones and actually work?
✔ What’s the second easiest way to increase my profits? (The first is hitting play on this podcast!)



We also bring on some of the most successful trades business owners in the world—real people who’ve built multimillion-dollar companies—so you can learn exactly how they did it.



This isn’t just another business podcast. It’s your shortcut to building a highly profitable, well-oiled trades business that gives you more money and more freedom.



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About your host

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Tony Fraser Jones