Doug Hales-Guest Blogger from Accounting First is coming


Good afternoon! It sure is hot out there! During weather like this I am thankful I have a job indoors. In today’s post I am introducing Doug Hales, owner of Accounting First. I asked Doug to be a guest blogger to discuss some of the lessons he has learned from doing accounting for those involved in agriculture. Doug graduated from Utah State University in 1993. He has been employed as a Controller, Senior Staff Accountant, CPA and currently is the Controller/Director of Finance for Huntsman Springs, Inc located in Driggs, Idaho. Doug loves to spend time outside and has raised chickens, honey bees and a large garden using a hoop house. He truly loves agriculture and understands the importance of using good financial tools.
I asked him to be a guest writer on my blog because of his education and experience. Doug has seen firsthand farmers and ranchers who bring in their receipts in a shoe box at tax time, and he has also seen other people come in with amazing records, knowing where there money is coming from and going to. There is a big difference in these two situations. It helps to have budgets created, followed and tracked in order to maximize the net return.
It is also important to reach out to professionals when needed. I will use the example of my 17 year old son who loves to buy old cars and try and fix them. My son buys these cars thinking he has the knowledge to fix the car and ends up having to call in a mechanic to help solve the big problems. This is very much the same in business and agriculture. Laws are always changing, and we must seek out those professionals who understand these changes and work with them on a daily basis. Another example is that I used to always do my own taxes. I had worked in a CPA office and graduated from an H&R Block tax class when I was younger so felt I was knowledgeable enough to do my own taxes. However, just for fun one year I let Doug take a look at my tax return before I submitted it. Through his knowledge of the law he increased my tax return by 30%. Needless to say I no longer do my own taxes. This principle does not just apply to taxes but to other professional services as well.
Please take a few minutes to check out Doug’s guest post, I know you will gain something from it. There is a picture of Doug at the bottom of today’s post.



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