I am mostly focused on the UK and mainland Europe. Has anyone here needed a tax accounting consultant? and did it go well - would you recommend your consultant? Who does your bookkeeping anyway... Your wife? Why?
IMO, if you are starting to earn decent money, you should definitely hire an accountant, if only as an adviser. He'll look at your situation and show you how to improve your set up, at least from a tax POV. For example in the UK, if you earn profits in the region of £20k - £40k (or more depending on your circumstances) it's far more tax efficient to set up a limited company with you are the sole employee/director. You then pay yourself a basic wage to use up your personal allowance, then pay the rest in dividends (which are effectively tax free thanks to tax credits and incur no national insurance). A good accountant will set this all up for you to ensure you stay within the law and also ensure you continue to receive all state benefits, pension etc. Plus of course he'll look at your situation and work out other tax benefits. I'd recommend you find a local accountant who you can meet in person. As for bookkeeping, it's a lot cheaper to either do this yourself or get a bookkeeper (they don't charge much). But of course, if your wife does it, she can be paid through your company = more tax benefits.
Rofl. I'm feeling the same way. When i start earning decent income,i'll hire an accountant. Luckily i studied accounting in highschool,and learnt myob so i can do my own bookkeeping.