No matter how tough things get people will need accountants, you have to have your taxes up to date before you can declare bankruptcy. Businesses that survive and everyone else will still need to pay taxes! A recession or depression will slow down the amount of work but over all I believe a accountant firm is a safe business as long as you live within your means and are able to adjust to changing times.
One thing I have learned over time is be good friends with your lawyer and your accountant if you have a business. I used to take both out to dinner on a regular basic, my treat. It is far cheaper to ask questions and advice over a $40 dinner than in the office or over the phone at $100 or $150 per hour!
Even my accountant said since we go for lunch 2 or 3 times a year it would be very wise of you to use that conversational time asking questions and advice. If I had any plans or questions, that was the time. I had several insurance policy’s because of personal cars/trucks limos/taxis and thought I should really be taking my insurance lady out for dinner too. It paid off in the long run too. We were friends before I even gave her my business. Another example wasn’t dinner it was drinks. A driver did a lot of damage one night and I couldn’t find a body shop. I stood to loose at least a months revenue and a friend sent me to his friend who fixed it right away. I saved all the unopened bottles of liquor left in the limos after that and they went to the body shop. Accidents suddenly became a lot more affordable!
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