If you’re in business you should. Doesn’t matter if your business is part-time or full-time. If you’re operating a business of some sort then you should have a professional guiding you and helping you with your business. Yes, it costs to have an Accountant but those costs are a taxable expense. And if you don’t have the structure set up properly you could be costing yourself a lot of money over the long run.
For example, are you aware (particularly here in Australia but could well apply elsewhere) if you have only one client and the majority or all of your income comes from that one source, that client could be considered your employer. Which has tax implications for both them and you. Don’t travel along blindly thinking this does not apply to you. It does and it’s no use taking the advice of those who aren’t in your position and don’t have the real facts at hand. So seek out an accountant and get the real information that applies to you. Others can only give suggestions, an accountant can give you guidance.
