The Power of Partnership: Bookkeeping and CPA Collaboration
Tax season can be stressful for business owners. It often means spending extra time with your certified public accountant (CPA) to ensure they have all the necessary documents. If you want to streamline the process, consider how working with a bookkeeper throughout the year can help prepare you for tax season and limit the work for you and your CPA.
End the Last-Minute Tax Scramble
Many businesses experience a last-minute tax scramble, rushing to compile records so their CPA can complete taxes before the filing deadline. By working with a bookkeeper, you can be tax-ready all year. These professionals can help maintain continuous, accurate recordkeeping, eliminating the stress of missing documents and last-minute data entry.
Bookkeeper vs. CPA: Who Does What?
The difference between a bookkeeper and a CPA for taxes is that they focus on different aspects of your financial picture. A bookkeeper keeps track of the everyday details, such as monthly account reconciliations and financial reports. By hiring a bookkeeper, you can ensure that you note every transaction and have detailed income and expense records throughout the year.
A CPA focuses more on the big picture, supporting end-of-year tax filing and helping with overall tax strategy and compliance. CPAs have the detailed knowledge to take the records from a bookkeeper and file tax returns that meet regulations while offering financial benefits for your business.
The Benefits of Collaboration Between Bookkeeping and CPA Firms
Working with a bookkeeper can help your business and make life easier for your CPA.
What You Gain as a Business Owner
Hiring a bookkeeper gives you more time to focus on your work. Your bookkeeper will help you maintain clean, up-to-date books all year. Then, when tax season comes, you can easily compile and send records to your CPA, making tax season much simpler — and potentially reducing your CPA fees since so much is already done.
Monthly bookkeeping also supports more accurate expenses and deductions. Missing these can make net profit seem higher than it should be, resulting in a larger tax liability.
What Your CPA Gains
When you hire a bookkeeper, your CPA also benefits. Tax-ready bookkeeping makes preparing and filing taxes easier. Effective organization means your accountant won’t need to reach out multiple times to collect missing records. Your CPA can use the time they gain to focus on high-value tax tasks, rather than simply gathering financial records.
Why Trust Us for Bookkeeping Services?
If you’re considering hiring a bookkeeper, the team you choose matters. Bookkeepers with specialized expertise can more effectively partner with your CPA to streamline everything from daily financial management to taxes. Here are a few reasons to trust Steph’s Bookkeeping Service:
- Industry knowledge: We offer services to several sectors, enabling us to understand how your business works and how to perform bookkeeping services most effectively.
- Flexibility: Our team is ready to tailor financial services to meet your needs. If you’re already working with a CPA, we’re happy to fill in the gaps where you need extra support.
- Experience: Our bookkeeping firm has served the industry for over 25 years. The licensed QuickBooks ProAdvisors on our team have the expertise to set up and maintain effective bookkeeping systems.
Gain Year-Round Tax Confidence
Steph’s Bookkeeping Service offers monthly bookkeeping to help with tax season by keeping your records organized throughout the year. Contact us online today to let us know how we can serve you.
