Checks and Balances
One of the questions I get asked most often when I say I have an accounting business is "so, you do taxes?". I love this question because it gives me a chance to educate people on the benefits of having a checks and balances system in place. I mean, it works well for our government, right?
Just like you wouldn't want the people in our legislative branch to be holding the reins for the judicial branch, you probably don't want the same person creating your records and then using those records to report for you.
Having a separate bookkeeper and tax preparer can be beneficial because it allows for a clear division of responsibilities.
A bookkeeper is responsible for maintaining accurate financial records on a daily basis, such as recording transactions and reconciling accounts.
A tax preparer, on the other hand, is responsible for preparing and filing tax returns and ensuring compliance with tax laws. I know this is all super interesting, but hang with me for a minute longer...
By having separate individuals or firms handle these tasks, it can help to ensure that the financial records are accurate and up-to-date, and that taxes are filed correctly and on time. Additionally, it can also provide a second set of eyes to catch any errors or inconsistencies that may arise.
Another benefit to working with a badass bookkeeping firm like Cultivate is that we are all that and a bag of chips, remember? When you work with us, you get a team of profit strategists, professional bookkeeping, and a small business best friend, at your service!
We work closely with several amazing Tax Professionals who will be happy to provide you with the absolute best advice, planning, and tax preparation possible. So, working with us ensures that you have the best of both worlds:
professional bookkeepers who aren't distracted trying to keep up with ever changing tax laws
professional tax experts who aren't distracted with the steady drum of bookkeeping.
Reach out today if you're ready to Scale your business and finally have the time and financial FREEDOM that you dreamed of!
