Every business will encounter accounting tasks. But unless you are a CPA, you may not want to hire a CFO. A CFO is a qualified professional who files annual tax returns and handles the business finances. This person must be able to handle payroll, know what numbers are essential to keep track of, know how to handle the annual audits, and be up to date on the current tax laws. If you are self-employed, then you should know how to handle these tasks yourself. If you have just started your business, then you should know everything there is to know about taxes and accounting. The IRS will be able to help you with tax filing questions. However, once you start to grow your business, you may want to hire a C-level executive to handle the accounting tasks for you.