All small businesses must face the same question: whether to do their accounting work in-house or outsource it to others. While paying someone else to do accounting for you involves a cost, it also saves money in other ways. How can this move actually reduce your costs? Here are five key ways.  1. Avoid Additional Payroll Costs. The hourly wage you pay someone to do your books doesn't represent the full cost of employing them.

When you start a small business, you likely expect to do much of — or all of — the early work yourself. But hiring an accountant is a good investment to get your new venture up and running. Here are a few important tasks they can help with and how these will add to your bottom line.  1. Selection of Business Entity. One of the first steps toward starting your business is to choose a business entity or structure.

If you are an artist, there is a good chance that you could benefit from working with an accountant. If you don't really think that you need to hire an accountant, consider the different ways that an accountant can help you out. Get Help With Determining Your Expenses It can be difficult to get a true idea of how much you spend on your art. However, between things like setting up your studio and buying art supplies, there is a good chance that you spend a significant amount of money.