Business owners - see milestone markers below

W2 employees - scroll down a little farther for recommendations

When Do I Need To Hire A CPA Yet?

Milestone 0

Make My First Sale

CPA does not recommend expensive tax advisory for W2 employees

No. Do NOT Hire A CPA

-I don’t need strategy

-I don’t have taxes yet

-Skip LLCs & QuickBooks

Milestone 1

Hit $10k In Sales

Maybe Hire A CPA To File My Tax Returns

-Now get my LLC, EIN, & Quickbooks

-Open biz bank account

-Keep biz and personal separate

CPA smiles as new business owners need tax return help and tax planning

Milestone 2

Hit $50k sales & go full time

Yes. Hire A CPA to file your tax returns. Plus

-At least one meeting

-Track income & expenses

-Start saving 20% for taxes

CPA approves small business owner hiring a tax pro to file tax returns

Milestone 3

Hit $100k In Profit

Mandatory To Hire CPA to fiile your tax returns. Plus

-Tax planning

-Maybe hire a bookkeeper

-Maybe elect S Corp

-Maybe add to retirement

File my 2025 business and/or personal taxes

When should I, as a W2 employee, hire a CPA?

I have just W2 income…

honestly Turbo Tax is probably good enough

Not necessary to hire a CPA. Suboptimal, but goo enough

Accountant does not recommend hiring CPA before starting your business

I have…

-side income like 1099/contracting income, Uber, etc…any income outside your W2

-Own rental properties

-Major life and financial changes like inheritance, stock, marriage/divorce, etc.

Yes. Absolutely hire a CPA to at least file you tax returns. Maybe more, depends on situation

Accountant gives thumbs up as tax payers save with smart tax planning with CPA
File my 2025 business and/or personal taxes