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Does Bookkeeping Include Tax Preparation?

Can a bookkeeper prepare taxes

Does Bookkeeping Include Tax Preparation?

Outsourcing your bookkeeping is a simple and effective way to ensure nothing slips through the cracks and no costly errors take a toll on your business finances and your budget plan. When you have a trusted bookkeeper in San Diego looking out for your company’s best interests, you have more time to focus on growing your business, building a strong team and implementing innovations which could attract more customers.

But however convenient this solution may be, is it also comprehensive? In other words, can a bookkeeper also do tax returns?

Can a bookkeeper prepare taxes?

Only a tax preparer should handle the tax preparation process for your business, and not every bookkeeper fits the bill or has the necessary education, expertise and experience to do it. However, some businesses offer bookkeeping and payroll within a more comprehensive service package which incorporates specialized services such as tax preparation for individuals and businesses alike. They may be able to offer you a tailored solution that is both cost-effective and efficient.

What else do you stand to gain by outsourcing bookkeeping?

As the owner of a small business in Kearny Mesa, you may decide to handle your own bookkeeping or have a trusted employee do it. That way, you can keep things organized without relying on a third party. Keeping your bookkeeping in-house may be more time-consuming, but at least you will cut costs, right? In the short term, perhaps, but in the long run, it is outsourcing bookkeeping that makes more sense financially.

Outsourcing your bookkeeping can save you money and bring a range of other interlinked benefits, including:

  • Saving time: A beginner business owner often has to juggle a range of responsibilities: running the business, managing the team, handling the finances and keeping track of transactions. Staying on top of everything can be challenging, which is why it makes sense to have a bookkeeper in charge of recording your financial data, banking and the financial aspect on the whole.
  • Risk reduction: Even if you eliminate risks such as theft and frauds small business often encounter and even if you carry sufficient employee theft insurance coverage, security and privacy risks are always there. When you outsource bookkeeping and bill payment to a professional bookkeeper, you will have fewer legitimate concerns hanging over your head. Bookkeepers may rely on advanced software to protect you and ensure your security and privacy.
  • Productivity and focus:  Whether it is the owner or one of the employees who is doing the bookkeeping, the work involved can be demanding and time-consuming. It requires patience, time and peace and quiet, which is often absent from a shared office. Even for a small business, it can be a distraction. Outsourcing your bookkeeping makes sense in terms of sharpening your focus on your work and having a more productive and better coordinated team.
  • Expertise-backed process: It goes without saying that an expert bookkeeper with experience is better equipped to handle your bookkeeping and rise to any challenges that may come along the way. 
  • Lower chance of mistakes: Fewer mistakes are a given when a professional bookkeeper is in charge. While mistakes can still happen, the odds are much lower when someone with a trained eye is taking care of the situation. What’s more, even if mistakes do happen, your bookkeeper can identify and resolve them efficiently and effectively.
  • Peace of mind: Business finances can be tricky and messy, especially if you are constantly questioning yourself and feeling uncertain about what your wisest, safest next step. Outsourcing your bookkeeping can definitely give you more confidence which can have a direct positive impact on your business at large.

Leave your bookkeeping to an experienced bookkeeper in San Diego

Can a bookkeeper also do taxesAt David York’s Tax Service, we take care of things without leaving anything to chance. We are your one-stop-shop: we can help you incorporate your business, handle your bookkeeping and payroll, prepare your corporate and individual taxes, and more.

With us, you won’t have to worry about what happens next. We’ll be by your side to give you a heads-up.

For more details on our prompt services available across San Diego City and San Diego County, contact us now.