FAQ section

The decision to hire a professional bookkeeper is usually triggered by a business owner’s experience of working late into the night, only to find that they’re still not keeping up with their bookkeeping duties. By this point, their books are usually out of order and whether they know it or not, they are often costing themselves money by paying more in taxes than they actually need to. Hiring a bookkeeper will help you to maximize the clarity of your company’s books so you have complete awareness of your income and expenses.

Bookkeepers and accountants (including CPA’s) do very different tasks for your business. Accountants focus on the high-level views such as whether changing your business formation will provide you with better benefits, or if there is a need to purchase assets, make tax payments and file your federal taxes each year.

Bookkeepers focus on the daily management of your business activities. These activities include entering and paying invoices, posting payments to invoices paid, updating bank and credit card activities, monthly credit card and bank reconciliations and accurate categorization of income and expenses so that your accountant/CPA have accurate information to guide business owners when making financial decisions and tax planning. We also ensure that you are tax ready for your CPA at year end.

Bookkeepers and accountants need to be able to work together to play their unique role in making your business profitable and successful over the long term.

Outsourcing your bookkeeping to a professional has many benefits. Primary among these benefits is preserving the integrity of your books. Beyond that, outsourcing your bookkeeping to a professional helps to ensure that you are paying the proper amount in taxes, maximizing your profitability, and most importantly, that you have more time to focus on the day-to-day operations of your business.

We handle all applicable State and City tax filings, including State and City B&O (Business & Occupation) taxes. We also prepare year-end 1099 filings. We prepare financial statements and provide them to your tax preparer to support the preparation and filing of the 1040, 1065, and 1120 returns. The tax preparer is responsible for preparing the K-1s associated with Partnership and S-Corporation returns.

​​​​​​​Tax returns are prepared by a separate accountant who specializes in tax preparation for your specific business. Keeping bookkeeping and tax preparation services separate helps ensure compliance with applicable tax laws while allowing you to benefit from each professional's specialized expertise. This approach also helps you avoid paying your tax accountant for bookkeeping services that your bookkeeper can handle more efficiently and at a lower cost.