If you are going to put up a business for the first time, do you think it is practical to just hire an accountant that will facilitate all the permits? Though it is a lot of help, it also costs a lot. Normally, how much do you pay for an accountant?

If you don't have the funding to pay an accountant, I would just do it myself. Accountant fees can range from $50- $150 per hr. However, some charge per service. Either way, it can get expensive as you are paying the account and the license fees.

So far I have been able to do the accounting myself. If I really needed help then I would shop around for a good accountant.

Well I have an associate degree in accounts so I do it on my own.

I'm lucky in that respect I used to be an accountant, however the company I worked for decided to downsize so I was made redundant. That was what prompted me to want to start up my own business.

If you really don't have any idea regarding facilitating business permits, then it is best to just hire an accountant. It would be better if you can go with your accountant during the entire registration process. Through this, you can familiarize yourself how the registration goes. The next time you need to renew your business permits you don't need an accountant anymore.

Like anything else, it pays to shop around and ask for referrals from other business owners. While I was taking some business courses, I was told that you can expect to pay between $1000-$1500 per year for an accountant.

Imagine my luck when I found one who would do it for $600.

Two years later I found an accountant who used to work for Revenue Canada, and now does my work for $60 per year. I just save all of my receipts, invoices etc, and put them into monthly envelopes and give it to her.

Of course my web development business doesn't create a lot of paper work, There is very little inventory, only a couple of people who work for me part-time who aren't listed as employees and probably no more than 15 invoices per month.

Regards,
Steve MacLellan

Steve, excellent price for book-keeping!

Sure is! That's why it is important to ask other business owners for referrals. People are your best source of information.

Best Regards,
Steve MacLellan

Like that say Steve, it's not what you know, it's who you know.