I just felt a cringe from everyone. Does anyone know how I should go about finding a good local accountant that knows how to handle a web hosting business? The yellow pages is full of general accountants, but given the nature of a web based business, the rules are a little different and I want to make sure I do this right.

Hopefully someone has some words of wisdom for me (perhaps a web site to get referrals).

Thanks in advance,
Tony

Originally posted by flyguy1996
I just felt a cringe from everyone. Does anyone know how I should go about finding a good local accountant that knows how to handle a web hosting business? The yellow pages is full of general accountants, but given the nature of a web based business, the rules are a little different and I want to make sure I do this right.

Hopefully someone has some words of wisdom for me (perhaps a web site to get referrals).

Thanks in advance,
Tony

hi tony,

as i am from india we must be having different rules in our states. but one thing you should look in your account must be common, he must be charterd or certified accountant to file returns for your company and should have knowledge or experience about IT companies. i don't thing there is anything special for web hosting business (may be in your state which will make me wrong) just a service like accounting.

cheers, i think any guy from your place can help you more.

Thanks, Mahinder. I appreciate the words of advice.

I tried another web-based small business once and talked to a certified accountant, but the problem is most of them aren't familiar with the rules governing online business since, at least in the US, different tax laws apply based upon where your business is located. Most of them just know the tax rules for the state they are in. For example, my understanding is if my compay is based out of Colorado, then any products ordered by an individual from Colorado becomes taxable, but anywhere else in the country is not. It's definitely confusing and I don't want to screw this up, naturally.

Originally posted by flyguy1996
Does anyone know how I should go about finding a good local accountant that knows how to handle a web hosting business?

I married the daughter of ours. ;-)

Cheers

Gary

Originally posted by Editor
I married the daughter of ours. ;-)

Do you suggest that to all of us?
:stickout

Ha, ha. Does she have any single sisters??

Walter - This one in particular...no. One just as sweet, yes. :-)

Pics are at www.trickedya.com

Flyguy - Nope. All married buddy.

Cheers

Gary

I am also having trouble finding an accountant the good thing is that in Rhode Island there is no tax on internet or any internet related services. Also even if it was a taxable item you dont have to pay taxes if its an item ordered online or by phone which is really good since phone ordering is my new best friend.:)

Check the phone book and call around until you find soneone you are happy talking with. You can also check the local chamber of commerce. They would be happy to refer you to a chamber member.

May I also suggest talking to the "big guys" e.g. KPMG or PriceWaterhouseCoopers.... they have small business division and might verywell have the IT / Internet business expertise. They won't charge you for asking them... won't hurt.

Why is the webhosting business so different, you are dealing with account recievables, account payables, deprecation of capital equipment, collecting and filing of federal/state(provincial) taxes, offices expense, payroll, etc. All of these things sound like some a regular chartered account can handle.

As an accountant :) there is nothing different about accounting for a webhosting business. If you incorporated your business you should keep your books in accordance with GAAP or generally accepted accounting principles. Pretty much any CPA will be able to do it for you. They will also be able to check for different tax no tax situations that different states might have. I would ask people you know, who do consulting/ contracting work to recommend a reputable CPA in your area. Also if you are using quickbooks they have a network of certified quickbooks CPA's in your area.

Most definite thing is you don't want to hire just an accountant you want to hire a CPA. Have him show you how to keep your books then maintain them yourself and have him review your books for you twice a year that way you can minimize your expenses.