How to Avoid the Tax Time Scramble (Next Year)
It’s spring, and that means finding everything you need to pay your small business taxes.
The good news is, you only have to go through this scramble one more time. If you hire BookWerksTM, one of the top Cincinnati bookkeeping companies, paying taxes next year will be a piece of cake.
We’ll automatically send the pertinent reports to your tax accountant. Everything will be in perfect order for them, so they have what they need to help you with your taxes.
Working with Outsourced Bookkeeping Services
There are lots of advantages to using a professional bookkeeping firm in addition to being ready at tax time:
- You will always know where you stand financially. By looking at the easy-to-understand reports your bookkeeping will provide, you will be able to see which months/clients/products or services are most profitable. This can help you make better operational decisions.
- Your transactions will be recorded promptly and accurately. The cloud-based accounting software most bookkeepers use connects with your bank accounts and credit cards, so every transaction is immediately recorded. With no human involvement, there is less chance of error.
- Your reports are available 24/7. Once a Profit and Loss report, Balance Sheet or Cash Flow statement has been issued (weekly or monthly according to your preference), it is available to you online any time, anywhere.
- More privacy and security. Taking your bookkeeping out of house means prying eyes only have access to your financials if you allow it. In many small businesses, the bookkeeper wears a lot of hats. Sensitive information can easily be leaked.
Our technology-based safeguards ensure no one has access to your information beyond those you give access to.
- Peace of mind. Many small business owners struggle to keep up with their bookkeeping; after all, it is not their top priority. But letting the recording of transactions slide doesn’t only cause chaos at tax time – it leaves you in the dark all year.
If you are spending more in certain areas than you intended, or your income is not meeting projections, it is better to know sooner rather than later. You can’t take action if you don’t know what’s happening.
Knowing your financial records are always in order is a great relief. Not only will it be easier to stay on track with your business goals and pay your taxes. Should you be audited, or want to take out a loan, well-ordered financials will be a godsend.
- No service interruptions. When you have Uncle Bob or an employee keeping your books, you can find yourself in a lurch if that person suddenly has a family emergency or switches jobs. At BookWerksTM, there is always someone available to step in on short notice. We are used to covering for each other during vacations, family crises, etc.
Since we have clients in so many different fields, chances are good that the bookkeeper taking over your account is already familiar with your industry, so there will be no learning curve.
- An unbiased expert is just a phone call or email away. We’ve been in the business since 2014. There’s no such thing as a “dumb bookkeeping question.” Part of our mission is to help clients interpret and use their financial reports.
If you ever have questions about any financial recording in your field, we can help with those as well. And as you grow, we can help you adjust financially.
Make your life – particularly at tax time – easier. Consider using a Cincinnati bookkeeping service for your financial record-keeping.