When Should e-Learning Freelancers Hire a Bookkeeper or a CPA?

When I first started freelancing, I did all of my financial record-keeping myself. Although I wasn’t making a ton of money, I had a system for tracking invoices, expenses, and payments myself—I kept manila folders for each, and I would spend hours reviewing each on a monthly and quarterly basis. I convinced myself that this was the most efficient way of doing things, because I didn’t want to spend money on a financial professional, and I was confident in my abilities.

What I didn’t count on, however, was how much time it took to track my own finances, and how difficult (and boring) it was to spend time making sure that I was preparing my taxes accurately. Eventually, I hired a Bookkeeper and a Certified Public Accountant (CPA), and despite that adding to my expenses, I learned through experience that I am better off financially when I work with money experts to handle my business accounts.