If tax season stress is already building, claim a spot! We can make sure your books are in order and those financial statements are looking sharp!
Reconcile your accounts by getting XRays!
Maybe not literal XRays, but think of reconciling as getting an XRay.
If you go to the Dentist, everything may look good on the surface, but if you don’t get XRays, you can’t see the decay until – BAM! And then comes the root canal…
The same is with reconciling: everything may look good on the surface, but if you don’t reconcile, it could lead to worsening problems. And costly solutions.
If you’ve already hit this problem – contact us and we can help!
Do I need to issue a 1099?
This is a very important and very common question… This chart can help you answer this question.
Reminder about Quarterly Taxes…
Even if you get an extension to file your taxes, this does not mean you get an extension to pay your quarterly estimated taxes. Those are still due according to the IRS schedule!
https://www.irs.gov/faqs/estimated-tax/individuals/individuals-2
What does a Bookkeeping Professional really do?
Many assume that a Bookkeeping Professional only records financial transactions. That’s only a small part of what they do.
I recently obtained a client and we dug into financial statements and corrected some categorization. We also…
– Reviewed ways to increase passive income.
– Examined inventory that was not having an adequate ROI and replacing it with items that were more profitable.
– Reviewed subscriptions and discussed what was essential and found a few free alternatives.
– Discovered and cancelled unused vendors.
– Found solutions to automate tasks to allow more time for business.
– Discussed and budgeted adding equipment.
– Realized and executed payroll needs as more employees are being hired.
Even if bookkeeping professionals may not be able to give tax advice, such as a CPA or EA, they are proactive with the every day finances and are an ally to small business owners.
Have you found your booking professional yet?