Should I hire a bookkeeper to handle my accounting?

Discussion in 'Motor Carrier Questions - The Inside Scoop' started by Regional, Jul 24, 2020.

  1. Regional

    Regional Light Load Member

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    Should I hire a bookkeeper to handle my accounting?
     
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  3. "semi" retired

    "semi" retired Road Train Member

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    I don't know how, especially in THIS day and age, one could truck without one, especially O/O's. It's like insurance, you have to pay, but you're screwed without it.
     
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  4. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    If you are going into business, it's a good idea to get with a CPA and discuss your situation. Get some professional advice on the best way to set up your particular business.
     
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  5. buddyd157

    buddyd157 Road Train Member

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    not only would you want a good CPA, but one that might also be a tax lawyer, such as what i have.
     
    Bigwin123 Thanks this.
  6. "semi" retired

    "semi" retired Road Train Member

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    Just make sure they are familiar with trucking. My 1st acct. didn't know squat, but the 2nd one was sharp. Saved me on some, not all, taxes and deductions I never knew about. I think I even wrote off my ex-wifes dog food, as he said, the dog may be guarding the truck,,,stuff like that. I still lost my shirt,,,
     
  7. USMC '74-'78 Semper Fi

    USMC '74-'78 Semper Fi Light Load Member

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    When I started O/O business, second thing I did was open a separate checking account for the business, after our accountant strongly recommended the separate account. Getting the accountant was the first thing. She and her staff have been a great asset. Tks
     
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  8. otterinthewater

    otterinthewater Road Train Member

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    I’m using ATBS this year.

    I send them all my receipts via their app. Send them my settlements and fuel card usage etc as well.

    They generate a monthly P&L and tell me what my estimated 1/4 tax payment should be. I pay about $100 a month. That includes the whole tax return at the end of the year.

    it seems to smooth and easy so far. We’ll see.
     
    Bigwin123 Thanks this.
  9. uncleal13

    uncleal13 Road Train Member

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    I use to let my accountant do it all. I just organized the receipts and dumped them off every few months.
    But I found I lost touch with the numbers.
    Plus it cost over $1400 a year, and I'm leased on to a carrier so I don't have that much paperwork.
    Now I do it myself, about 20 minutes a month.
    Accountant only does the year end and tax filing for $220. And I know my numbers.
     
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  10. TruckerPete1990

    TruckerPete1990 Road Train Member

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    I do everything myself. I pay $20 a month on let's truck for the account service.
     
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  11. "semi" retired

    "semi" retired Road Train Member

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    That's what I SHOULD have done, separate account and paid myself a salary. I just threw it in my savings account and drew off that.
     
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