‘Tax is just a sign of your good fortune and success’ -Jay Z’s Accountant
Not so long ago there was a book that spoke about Jay Z. A segment had Jay Z talking about how he fired his accountant just because he did not want to pay the taxes.
But when he realised how fortunate he was for being so successful, he hired the same person back.
There may be many who fire their accountants and later may hire back the same person or someone else to do their accounts. That got me thinking if this was a good idea at all. This is what I came up with:
1. Ethical Hustlers, Ballers & Young Millionaires
Are you ethical hustler? Or an aspiring baller like like Jay Z? Then it is still very important to have a great accountant to take care of your financial front. So choose and associate yourself with an accountant who will help you in taking wise financial decisions. They generally are experts in the field of risk management, marketing and increasing your wealth. Having a great accountant is a very valuable asset to your company and may be the crucial link which will help you taste success and increase your swag.
2.Getting Along Isn’t Always A Possibility
The accountant and you are two different individuals who are entitled to your own opinions and there may be times where you may not agree with what the other person says, but that is no reason to fire your accountant. It is always a great option to talk it out and resolve this issue than losing your accountant.
I specialise in helping solo entrepreneurs, one-man bands and awesome digital marketers. From my experience, sometimes I have to break bad news about spending more time on fixing mistakes & inaccuracies from a lack of an accounting system. I do this to protect my clients from possible investigation and penalties from HMRC.
3. As The Relationship Grows So Does The Business
The relationship that you have with your accountant plays a very important role in deciding how successful will the business get. An accountant with whom both you and your business are on great terms with will definitely help you in making wiser financial choices for your business be it in saving money, investing, drawing up a contract etc. As the relationship gets stronger, your business grows larger.
4. Choose A Like – Minded Accountant
It may not seem significant but it is highly important to choose an accountant who is just as passionate as you are about your business. A like minded accountant will understand your desires and goals and will help you in achieving the same by helping your company grow financially. If you love working online, love efficiency and love being a free-spirit then it will be effective for you to find an accountant with a similar mindset.
Don’t worry, I know they’re hard to find, but you might be speaking to the right person now 😉
So you see, it may not always be a great idea to fire your accountants frequently.
Choose a sensible one to begin with and grow the relationship & your business long-term. Nothing wrong with a bit of swag, right?
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