Personal Accounting: Why Is it Important?
A lot of private individuals tend not to think about their money too much: they file their own taxes, deal with their own banking and make their own savings. While all of this is well and good, it can sometimes get a little tricky and challenging. For this reason, personal accounting can end up working wonders. Having a personal accountant will take a lot of the stress off dealing with your own financial issues and ensure that all of your taxes are completed properly to avoid pesky fines that occur from mistakes.
Taking Care of Your Investments
Beyond personal financial tasks, you may also have your fingers in a number of pies financially speaking. Using a personal accountant to take care of these investments will, therefore, be a very important step to ensure that you’ve got everything in order. Beyond this, you may also be able to benefit from the advice that your accountant can give you and let you know where the best investment deals are and where you could possibly save or make even more money.
What Types of Accountant Are There?
There are several types of accountants you can use…
- Bookkeeping: Bookkeepers tend to offer the most basic of services which help with things such as paying the bills, looking over credit card statements and generally balancing the books. Bookkeepers generally attain certification from the American Institute of Professional Bookkeepers. On average, you can expect an hourly rate of $15.00.
- Accountants are usually more qualified (to a college level) and will deal with things like investments and much more complex topics. On average, you can expect an hourly rate of $35.00.
- CPA: A CPA is usually trained to master’s level and has received certification from the American Institute of Certified Public Accountants. They tend to be on the more expensive side and offer an hourly rate of $50.00.