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<\/figure>\n<\/div>\n\n\nDo bookkeeping and taxes relate to one another? The short answer is \u201cabsolutely.\u201d Below we\u2019ll walk through what each is responsible for, but first, let\u2019s outline where the overlap has its payoff:<\/p>\n\n\n\n
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- Uncovering potential deductions based on knowledge of all your expenses<\/li>\n\n\n\n
- Making tax planning and tax filing easier by carrying over bookkeeping financial records into the forms you\u2019ll need at tax time<\/li>\n\n\n\n
- Receiving year-round support from your bookkeeping and tax team to keep you on track and up to date<\/li>\n<\/ol>\n\n\n\n
Questions about any of these bookkeeping tasks for your business? Schedule a free bookkeeping consultation<\/a> with a tax professional from Block Advisors. <\/p>\n\n\n\n
To see up close how bookkeeping and tax duties come to life, read on.<\/p>\n\n\n\n
<\/div>Overwhelmed by year-end bookkeeping?<\/h3>
Our experts can help for up to 50% less<\/p>
\nSchedule a free consultation<\/a><\/div>\n<\/div><\/div><\/div>\n\n\n\nWhat does a bookkeeper do?<\/h2>\n\n\n\n
If you\u2019re questioning, \u201cWhat does a bookkeeper do for a small business?\u201d We\u2019ll detail the answer here. Bookkeeping entails detailed record-keeping of your small business transactions. It helps assess your business\u2019s financial vitality by tracking expenses and revenue. So, what services do bookkeepers provide? A standard bookkeeping service works with the following:<\/p>\n\n\n\n
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- Asset records<\/li>\n\n\n\n
- Bank transactions<\/li>\n\n\n\n
- Bills<\/li>\n\n\n\n
- Credit card purchases<\/li>\n\n\n\n
- Financial transaction reports<\/li>\n\n\n\n
- Payroll records<\/li>\n\n\n\n
- Purchase orders<\/li>\n\n\n\n
- Receipts<\/li>\n\n\n\n
- Sales invoices<\/li>\n<\/ul>\n\n\n\n
Looking to outsource small business or self-employed bookkeeping? Block Advisors offers bookkeeping services<\/a> and packages to get you the help you need while saving you time and money.<\/p>\n\n\n\n
<\/a>What does a tax professional do?<\/h2>\n\n\n\n
Like a bookkeeper, many tax pros perform tasks that involve financial records. But, as the name implies, they focus on taxes and business tax preparation. Tax preparer responsibilities often include:<\/p>\n\n\n\n
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- Guiding clients through the tax return preparation process<\/li>\n\n\n\n
- Collecting relevant financial records to produce an accurate tax return<\/li>\n\n\n\n
- Making sure clients pay the right amount of local, state, and federal taxes<\/li>\n\n\n\n
- Identifying small business tax deductions<\/a> related to home office expenses<\/a>, business travel expenses<\/a>, and more.<\/li>\n\n\n\n
- Filing small business tax forms<\/a><\/li>\n\n\n\n
- Representing clients before local, state, and federal tax agencies as necessary<\/li>\n<\/ul>\n\n\n\n
<\/a>How a bookkeeper can assist with tax preparation<\/h2>\n\n\n\n
The bullet points above give you an idea about the benefits of a bookkeeper. The main takeaway is that when your bookkeeper is the same team as your tax preparer, they\u2019ll have the full picture of your business\u2019s financials. And, without accurate financial records, you won’t be able to complete your tax filing correctly.<\/p>\n\n\n\n
<\/a>Bookkeeping and tax services all in one<\/h2>\n\n\n\n
So, do bookkeepers do tax preparation? The answer varies depending on the person or professional service you choose. While you may want to do it alone, reality may set in. Do you really have the time and desire to accurately complete your small business taxes and bookkeeping tasks? Consider if it is worth the hours of your day to take on these tasks instead of hiring a tax preparer focusing on what you love about your business.<\/p>\n\n\n\n
Get help with small business tax preparation and bookkeeping<\/h2>\n\n\n\n
If you\u2019re looking to outsource bookkeeping and taxes to complete the financial picture, consider using Block Advisors. Get your business\u2019s supporting documents ready and in order now so you can better prepare for our year-end tax filing readiness service<\/a>. Our pros can help you tidy up your small business tax<\/a> documents, log your expenses, create an income summary report, and find available tax credits and deductions.<\/p>\n\n\n\n
Learn more about Block Advisor bookkeeping by scheduling a free bookkeeping consultation<\/a>.<\/p>\n\n\n\n
This article is for informational purposes only. The content may not constitute the most up-to-date information and should not be construed as legal advice.<\/p>\n\n\n\n
\n\n\n - Filing small business tax forms<\/a><\/li>\n\n\n\n
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