How many accountant/lawyer hours last year?

[Tibbon]

How many hours did you guys get billed for by your accountants and lawyers last year?

I'm assuming that everyone here who has a studio that is actually a business has both... right?

[marcnyc]

I use my lawyer for contracts on a per-contract per-hour basis and my accountant just for my taxes (I do the rest of the accounting myself using iBiz and common sense)

[Tommy-boy]

I have a couple of thoughts for you:

1 - Try to set fixed pricing for the work you ask your accountant to do. It's common and reasonable. I do this for my clients whenever possible. That way there's no surprises and everybody knows what to expect up front. However, if your stuff is a total mess (as in you're totally disorganized), expect to be billed more. If I have to fart around twice as long because Client A's records are a disaster, that's fine. But it will cost Client A more than somebody (say Client B) who has their stuff organized.

2 - Accounting firms have been raising rates the past few years. I work at a mid-sized firm and we've been raising our rates at a steady clip. Why? Because the demand for accounting services is far outstripping the supply of accounting professionals. We have all kinds of hiring agencies trying to get more accountants in the door at my firm. It's nice to know I've got incredible job security, but it sucks when I'm trying to fill positions in my department!

-Tom

[Faderjockey]

Are you from Date-line or something?

[Tibbon]

Originally Posted by Faderjockey

Are you from Date-line or something?

No, I'm just trying to figure out why some GS members seem to be so legally and accounting-wise clueless about things. Not knowing how/what to depreciate, deductions, simple copyright things, etc... All things what would be answered I'm sure if they sat down with their accountants and lawyers even once or so a year.

It makes me scared to think that people are possibly running businesses and trying to do EVERYTHING on their own. Unless you have your JD and MST/CPA then trying to act as your own attorney or accountant is like giving yourself fillings as your own dentist.

[Faderjockey]

very true.... If you couldn't tell my other post was sarcasm..

[Tibbon]

Originally Posted by Faderjockey

very true.... If you couldn't tell my other post was sarcasm..

There was an entrepreneurs networking meeting in Boston recently, where many companies were showing off their websites in hopes to get financial and other support. One of the companies is book publisher that's targeting 9-12 year old girls. During their speech the lady said, "Now with our new website, we are able to touch young girls online and offline"...

She quickly realized the potential double meaning of it, as the room erupted into laughter. She retorted with, "At least I know you were listening to me". We all felt that Stone Philips would be making her a visit later to find out more about this "touching young girls online and offline" business.