Bookkeeping is an obvious necessity for every business. Ideally, you set up bookkeeping practices at the start of your business and at the end of the year, you present your tax preparer with an Income Statement generated by your accounting software of choice. Everything has been done correctly, so your CPA doesn’t have a thousand questions and requests, and they file your tax return with maximized deductions.
Although we envision this story, the reality ends up being quite different. You set up your accounting processes and you start off with the best of intentions to reconcile every month, and before you know it, half a year has passed since the last expense was recorded.. and the year is almost over. Sure, you have a general idea of cash flow and how much is in your bank account, and your monthly expenses. The fact is, you know your next steps will be more guess work than you’re happy to admit. So, come tax time, you hole up in your office for 6-weeks and attempt to categorize and reconcile each transaction over the past year. There are at least 100 transactions that need to be reviewed by your accountant they are requiring back up documentation for nearly every penny you spent. You’re kicking yourself or hassling your spouse for tossing receipts, and your doctor is starting to worry about your blood pressure.
Your tax preparer isn’t a magician. They put together your tax return based on information YOU are responsible for tracking and organizing. When your books are incorrect and incomplete, you could be missing out on tax deductions or… accidentally overstating your income, because of mistakes entered in your accounting software.
When you choose to work with a bookkeeper, you are choosing peace of mind, knowing every transaction is correctly accounted. You choose time better spent working on growing your business or other passions instead of worrying about and trying to figure out the bookkeeping side of your business. When you work with a bookkeeper, you choose a smoother end-of-year tax prep and spring tax season. When you choose to work with ME as your bookkeeper, you also choose a trusted peer – an advocate in your corner advising you and managing best bookkeeping practices.
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