Small Business, Taxes, and a Smart Bookkeeper
Do you pay quarterly taxes? Do you dread the day every quarter when you drop that check in the mail, representing a healthy portion of the money you’ve worked so hard to make?
According to the Small Business Administration, there are currently 27.9 million small businesses in the United States. That means you are far from being alone.
Wouldn’t it be nice if you could hold onto more of your money? You might be able to, depending on how your bookkeeping is going. Working with a bookkeeper who understands your business and taxes can really pay off.
After all, an effective tax strategy doesn’t begin April 1 and end April 15 every year. Working with a bookkeeper who can help you by properly categorizing your expenses all year long will keep you from paying more than you have to.
What’s the difference between a bookkeeper and tax preparer?
A qualified tax preparer is specially licensed to prepare and submit your taxes to both local and federal governments. This person can offer tax planning advice and audit services while a bookkeeper has a different set of skills. And a tax preparer is someone you talk to a couple of times each year whereas a bookkeeper is someone who is with you week after week.
A bookkeeper won’t prepare your taxes for you, but a bookkeeper will prepare your financial records for you to submit to a tax preparer or accountant.
Why work with a bookkeeper?
I can’t speak for every bookkeeper, but Signature Virtual Assistance’s bookkeeper VAs are the best investment you can make in your business. Why? Because not only will my bookkeepers keep your books pristine, but we’ll also help you reduce your risk of audit. How?
Think about this scenario for a moment: What did you do with that receipt from your membership dues to the local chamber last month? Do you know where it is right now? Or would you have to dig to (hopefully) find it?
Working with a bookkeeper means you will instantly have to have a better system in place. And Signature Virtual Assistance’s bookkeepers offer two options.
- You can collect your receipts all in one place to drop them off to SVA’s office every couple of weeks where each receipt will be scanned and filed in your Google Drive or other desired cloud storage (with the originals organized and mailed back to you, or shredded if you prefer).
- Or you can scan your receipts yourself and send them over electronically.
Either way, we can help you get more organized and implement a new system that will keep your information easy to find and hard to lose.
So if you prefer the shoebox method—you know, at the end of every year, you start pulling receipts out of the box or cubby hole where you’ve been tossing all of your receipts all year long to try to make sense of the mess now—you don’t even need to change your habits other than to bring that shoebox to us every few weeks so we can clean it out for you.
What does a bookkeeper know that you don’t?
You might know just as much as any of my SVA bookkeepers. It’s possible. But how much time do you spend on keeping your books and organizing your receipts?
Maybe you’re perfectly capable of keeping your books. But so are my bookkeepers. Do you know what no one else can do, though? No one else can grow your business for you. Only you can do that. How much time would you have to focus on growing your business if you handed the books over to an equally-qualified professional?
There’s only one way to find out for sure. Contact me, Lorie Nelson, today to talk about our services. I’m the president and owner of Signature Virtual Assistance, and I’ve been helping business owners and entrepreneurs of every kind work smarter, not harder since 2012. I look forward to hearing from you.