That's a tough pill for most small-business owners to swallow, and a lesson that Lori Hoyt
learned the hard way.After years of doing her
business' taxes herself, Hoyt
discovered that she
hadn't been saving money--she had been losing it. "We were rolling along thinking everything was good, and then all of a sudden we were like, 'What's this?!' " says Hoyt of Rejuvenate Cosmetic Laser Center in Murfreesboro, Tenn. "We thought we were doing a good job without a CPA, but then we got all of these fines that we weren't even aware were out there."
turned to a CPA for help, and immediately realized the benefits.For the first time ever, Hoyt's
business didn't owe the IRS money on tax day.
"The CPA had so many different options for saving money," Hoyt recalls."We thought doing it one way was the smartest, but it wasn't."
Utilizing the service of a CPA has saved Hoyt countless hours, too.Instead of fretting over the convoluted tax law, Hoyt
was able to concentrate on running her
"CPAs have so many more resources at their disposal than a small-business owner has," she
Hiring a professional gives Hoyt
the peace of mind to not worry about tax mistakes anymore--and she
has someone to turn to for quick, correct answers.
"A CPA can do it faster--and do it right," she
says."And there's a really good feeling in being able to call them when we need answers."
For the entrepreneurs who might hesitate to bring in outside help, Hoyt
advises that in the end, it's really in your best interest to concentrate on your strengths--and leave the taxes to the professionals.
"Don't reinvent the wheel," she