Sunday, March 16, 2008

Outsourcing bookkeeping helps business owners focus on job

NEW YORK -- Ron Finklestein found a good reason for not compiling his business tax return: $1,600.

That's how much Finklestein says he would have overpaid the government if he had submitted a return he had completed as an experiment. When he ran it past his accountant, he discovered he hadn't claimed all the deductions to which he was entitled.

Many small-business owners try to compile their companies' returns, and they also try to keep the books, too. Many, like Finklestein, discover it's better to turn the financial part of the business over to someone with a head for finances -- the work will be done faster and better. Moreover, outsourcing finances allows owners to focus on building their companies.

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