I have always loved this joke – mostly because it is one of the few I can remember and it can be used with almost any profession.
Witches – only one but she changes it into a toad
Psychiatrist’s – only one but the light bulb has to really want to change
Union Workers – five, one to hold the light bulb and the rest to turn the ladder (interestingly enough, this answer also works for those little yellow Minions from the movie Despicable Me)
I’m sure you could come up with some others. I have never seen one with CPA’s but as with all questions you would ask your CPA, the answer would be, “It depends.” The CPA would need to know things like what the wattage of the bulb was, has it ever been changed before, and what kind of device it is used in before they can give you an answer.
They would then need to determine if it were possible, and how many people will be required to change the bulb, along with the costs involved, and will the effort save you enough money in the long run for changing the light bulb to be worth it, given the cost of the new bulb vs. the electricity bills saved by leaving you in the dark.
While this was all meant to be fun and admittedly a little silly, CPA’s are here to help answer the hard questions a business owner may have. If you want us to answer the hard questions for you such as how much it would save you to have an S-Corp instead of being a Sole Proprietor; or if leasing or buying a new delivery van would be better for your business; or should you expand operations into the next city, state, or even country over; then call us to schedule an appointment today.