Freedom to do the Work you Love

Every July, we reflect on the idea of freedom and what it means to us as a country. If you are a business owner, personal freedom was likely one of the factors in starting your own business. Freedom to do what you love, freedom to control your future, freedom to grow your financial health – the list goes on and on.  However, as a business owner, you know that there is so much involved in running a business (accounting, marketing, human resources, etc) and these areas can pull your focus from what you are passionate about and what initially drove you to start your business.

So how do you get more freedom to focus on what drives you?

The answer is simple – surround yourself with people that are passionate about the things you would rather not do. Like the idea of marketing, but feel a knot in your stomach every time you have to put together a marketing plan? There are plenty of people who love marketing that can help you.  Do you get anxious thinking about financials and tax deadlines? Not to worry! There are companies (like mine!) that love working the numbers.

Let’s take a look at how an accountant/bookkeeper can free up your time to focus on what you love to do.

An accountant/bookkeeper can: 

  • Manage financials so that you know how well your business is performing
  • Alert you to financial issues before they become problems
  • Run payroll and associated reports
  • Assist with Pandemic Relief loans and grants
  • Manage changing legislation – for example, did you know that Gross Receipts Tax (GRT) changes went into effect July 1 and Compensating and Withholding taxes will need to be filed separately?
  • Keep you on track with tax filings so that you don’t miss deadlines. Here are a few to keep in mind for this month:
    • July 25 – Mid-year for people that only file GRT biannually
    • July 25 – Compensating, GRT and Withholding taxes
    • July 30 – 941 payroll reports
    • July 30 – 903A Wage and Earnings report

If managing the above items doesn’t sound like fun to you, that’s perfectly fine. In fact, I’m guessing that the above items are likely the kinds of things that limit your freedom to do the things that you really love to do (and maybe even cause a bit of anxiety).

If you a realtor that loves helping people achieve their dreams of owning a home, or a lawyer that is driven by justice, or a chef that loves bringing smiles to peoples faces through food, please focus on what you love. Because there are some of us that are grateful that you love to do the things that make some of us fill with anxiety!   

If you would like a bit more freedom to focus on what drives you (and not accounting) give us a call at 505-850-3908 for a free consultation.