It's a known fact that almost all businesses use the help of a professional accountant, but most individuals do not typically utilize their services. If you are self-employed, have investment property, or you just need some help with your personal finances, hiring an accountant is a viable option. Before you pay someone to assist you with your personal financial situation, make sure you choose the right type of accountant that will be able to meet your needs and goals.
Using A Bookkeeper
A bookkeeper is a great choice for people who need accounting services "a la carte." Bookkeepers can perform several duties for you like helping you sort through and pay your personal bills or even help you with balancing your checkbook. They can also look through your credit card bills and other financial liabilities to help you get the best interest rates and consolidate your debt. Most bookkeepers charge an hourly rate so you can hire one on a temporary, one-time basis if you like. Once a bookkeeper gets you on the right track, you can continue to make your payments and deal with your personal finances on your own moving forward. If you need their help again, you can always call them to come and assist you later at a flat or hourly rate again.
Utilizing A Professional Accountant
Professional accountants typically have a college degree in the subject as well as a lot of hands-on financial training. They should be able to help you with your financial bookkeeping, but they will typically charge more per hour than a bookkeeper will. Professional accountants can help offer you advice on a variety of things including home refinancing and personal income taxes. Most individuals opt to hire a personal accountant if they simply don't have the time to worry about their finances and need someone to assist them with various duties. Most accountants are bonded and insured so that your interests and privacy are protected.
Enlisting A CPA
A CPA is also referred to as a Certified Public Accountant. In most cases, CPAs are hired by companies and not by individuals. They usually have a master's degree in accounting and have also received official certification in their field. The cost to hire a CPA is significantly higher than a bookkeeper or a personal accountant, and they're most commonly used by individuals who are also small business owners. In fact, if you contact a CPA, they will typically send someone from their firm to help out with your finances rather than do the work themselves. When it comes to managing your own financial situation, an accountant can help you navigate the choppy waters of taxes, bills, investments, and more so that you will be able to make sound financial decisions.