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How can a bookkeeper help me get ready for tax time?

 
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How can a bookkeeper help me get ready for tax time

Bookkeeping for Tax Time

How can a bookkeeper help me get ready for tax time?



Every year it is the responsibility of each individual and business to submit tax forms to the IRS. Getting annual income tax preparation done for an individual can be a fairly simple task (if you have kept all of your financial records organized all year), but where it concerns a business, the filing income tax is much trickier.

The first part of the process of getting your tax forms submitted is the keeping of accurate records. The information from your financial records is used to help determine the tax payable by to the Internal Revenue Service.

Bookkeeping Tax Preparation Services for Individuals



April 15 - Let's face it, for many people that date strikes a sense of dread. In most cases it's because there is a feeling of the unknown until the very last minute. Will I owe money? How much will I owe?

When tax time approaches, people break out the receipts and financial records that they have been putting in folders, piles and shoeboxes all years and think to themselves, “Now what?”

By utilizing a bookkeeper, either to help you set up a system such as Quickbooks, to help you keep your financial records organized and categorized as you go, or to help you take that unorganized mess of receipts and turn it into a simple report of exactly the information you need to file your taxes, you can save yourself both time and a LOT of unnecessary stress.

And…

Depending upon your situation, your bookkeeper may even be able to complete the income tax forms for you. Or, if you require the services of an accountant, using a bookkeeper to get your records in order will ultimately save you money. Accountants charge a lot more per hour and the last thing you want to do is pay one to sort and organize your receipts!

Bookkeeping Tax Preparation Services for Business



Many small business owners feel that they can handle tax preparation themselves, but tax laws regarding what is deductible and what one can ask tax relief for, has changed a lot. Tax laws change so much these days that keeping up with them all is a daunting task. It is easy to overlook deductions to which you are fully entitled. Rather than dealing with this headache yourself, it is a much wiser decision to utilize the services of a bookkeeping professional, so that you know you get the best deal around.

At the end of the day you, as the business owner, have to ask yourself the question, “how much is my time worth?” Are you willing to spend hours trying to make headway through the mounds of paperwork? Or are you going to employ a professional bookkeeper to take the drudgery out of your life and leave you to the business of “managing your business”?

It is the bookkeeper's job to keep accurate records so the relevant financial information is easily accessible when it's time file your state and federal tax forms.

You will have the information necessary to file your quarterly state retail tax in a snap. And don't forget about the dreaded quarterly income tax reports, when you have to estimate what you are going to owe at year's end - and NO ONE wants to send the IRS more than they need to ahead of time, NOR do you want to have to pay a fine for not sending enough!

And if you utilize the services of a tax professional or an accountant to file your tax paperwork, when you have a good bookkeeping system in place, you will ultimately save a significant amount of money. Specialized tax professionals and accountants are not cheap, and you really don't want to pay them to organize your financial records before they can get started with the real job of preparing your taxes.

For businesses, utilizing the services of a professional bookkeeper is definitely an investment worth making, even it it's just to help you set up a good system for record keeping, such as Quickbooks.

If you want to learn more about how a professional bookkeeper can help you get ready for tax time, give us a call. Aiding clients with their tax preparation is one of our specialties.


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Frequently Asked Questions
  How will bookkeeping help me?
  Does my small business need a bookkeeper?
  What services can a bookkeeper provide for my business?
  Whats the difference between a bookkeeper and an accountant?
  How can a bookkeeper help me get ready for tax time?
  Can a book keeper help me with payroll?
  What do I need to provide my bookkeeper?
  What are some book keeping tips for small businesses and/or freelancers?
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Corporate Bookkeeping Services Corporate Bookkeeping Services Corporate Bookkeeping Services
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Green Bookkeeping Green Bookkeeping Green Bookkeeping
Full Time or Temporary Staffing Full Time or Temporary Staffing Full Time or Temporary Staffing
Quickbook Services Quickbook Services Quickbook Services
How will bookkeeping help me? How will bookkeeping help me? How will bookkeeping help me?
Does my small business need a bookkeeper? Does my small business need a bookkeeper? Does my small business need a bookkeeper?
What services can a bookkeeper provide for my business? What services can a bookkeeper provide for my business? What services can a bookkeeper provide for my business?
Whats the difference between a bookkeeper and an accountant? Whats the difference between a bookkeeper and an accountant? Whats the difference between a bookkeeper and an accountant?
How can a bookkeeper help me get ready for tax time? How can a bookkeeper help me get ready for tax time? How can a bookkeeper help me get ready for tax time?
Can a book keeper help me with payroll? Can a book keeper help me with payroll? Can a book keeper help me with payroll?
What do I need to provide my bookkeeper? What do I need to provide my bookkeeper? What do I need to provide my bookkeeper?
What are some book keeping tips for small businesses and/or freelancers? What are some book keeping tips for small businesses and/or freelancers? What are some book keeping tips for small businesses and/or freelancers?