Frequently Asked Tax Questions
1.) Why Is A Master Bookkeeper SO Important To The Success Of My Tax Preparation?
Because I prepare Laser Focused Reports and Balance Your Financials often going back Months’ and Years’ helping your CPA prepare and file your Business Taxes quickly and efficiently. As the Local, Top Rated® Master Bookkeeper, I analyze, reconcile, and prepare reports so that you, your tax preparation professional, or CPA can file your taxes without delay or having to amend multiple times due to sloppy Bookkeeping. These Daily, Weekly, Bi-Monthly or Monthly reports simultaneously allow you and your tax professional to avoid audits and reduce tax liability for your business helping them identify as many tax shelters as possible. Often, clients choose our In-House CPA to file their tax returns at a third of the cost. Click here to find out how.
2.) How Can A Bookkeeper Help Me With Tax Obligations?
Most Bookkeepers cannot. However, I take a forensic approach in reconciling your financials, bringing each account current while providing critical reports to your CPA to use in your tax preparation and filing. My reports reflect your business transactions, profits, and margins so that your taxes are filed RIGHT-the FIRST time–assisting your CPA then, in looking for maximum tax shelters for you and your Business.
3.) Should I Hire A Bookkeeper Before Tax Season?
Yes. Critical to the success of any Business is a competent Bookkeeper who can quickly and accurately Balance your Financials for delivery to your CPA for tax preparation. I am that expert. Our current clients range in revenue from just a couple of hundred thousand each year up to in excess of $32,000,000 annually. I provide the expertise your Business needs so that your CPA or tax professional files accurate taxes.
4.) How Do I Choose A Tax Preparation Expert or CPA?
No two businesses or financial situations are the same. You need a tax professional that has experience and knowledge with preparation and filing. Consider finding a certified tax professional to prepare and file your taxes or ask me about our own in-house CPA.
5.) Do I Need A Certified Tax Professional If I Have A CPA? What’s The Difference?
A certified tax professional (CTP) passes a three-part IRS examination, focusing on business and taxes. A Certified Public Accountant (CPA), like our in house CPA, passes a qualifying exam, focusing on business law, audits, taxes, personal finance and accounting. The CPA is highly familiar with tax law, code, and requirements when preparing and filing tax returns.
6.) How Do Bookkeepers Interact With CPA’s?
As much or little as necessary. Often, I’m asked to clean up the financials aka as ‘reconciliation’, then act as the liaison with your CPA or tax professional. I prepare and review with you your: P&L, balance sheet and cash flow statements for tax preparation.
7.) Can A Bookkeeper Prepare Tax Returns?
No, I accurately Balance each of your Business Accounts as well as handle all of your: payroll, invoicing, accounts receivable, and accounts payable, in preparation for your tax filing by delivering a balanced set of Financials to your CPA who then files your taxes all–for a third-of-the-cost of paying your CPA for doing the same tasks. However, my in-house CPA can help if you need tax return preparation.