If you are like me, then you may LOVE marketing and responding to customer inquiries and growing your online business, but you may not be very diligent with book keeping…
Does this sound familiar?
For example, do you become so focused on creating your online business for months, and then suddenly you realize it’s the end of the year and you need to submit your tax documents? So you spend the next 2 days madly entering in your yearly income and expenses into an excel spreadsheet, and printing all your bank statements and credit card payments?
If this is you, then I highly recommend for you to PAY the money to an accountant to organize your spreadsheet and pay your taxes.
This is the one thing I recommend for you to never cut costs on, especially if you want a true Minimalist Business.
I guarantee it will be one of the best investments you will ever make!
And this is especially so in Japan which is where I live. In Japan, EVERYTHING related to bank accounts, credit card statements, and tax documents are in Japanese, so the whole process of organizing your book keeping is a zillion times more difficult because you also have to struggle with the language barrier.
The purpose of a Minimalist Business is for you to have the freedom to enjoy your life, and if book keeping and paying taxes for your business (especially in another language) is something that causes you stress or that you find yourself not keeping track of properly, then you will honestly be much better off by paying for a specialist accountant to take care of it for you. This will not only reduce the stress for you, but it will ensure that you are paying the correct taxes which will empower you to grow your business even more with nothing holding you back.
So how much does an accountant cost? It will depend on which country you live in, but in Japan it costs about 20,000yen to pay the accountant to submit the documents to register as a sole proprietor (kojin jigyo), and then about 100,000yen for organizing all the paperwork to pay your tax each year. There are probably cheaper tax accountants available in Japan, but if you want a bilingual professional to help you, then you may need to pay a bit more. So when you start making an income from your business, make sure you always set aside a percentage of your income so you can have enough to cover the cost of the tax accountant plus your taxes.
This may sound like alot of money when you are just starting your business, but I honestly believe that it is very important to make sure you don’t cut costs on this aspect!
I hope this helps and let me know if you have any questions!