Tax Preparation Bookkeeping Services
Bookkeeping NYC provides expert tax preparation services for NYC, Manhattan, NJ in Bergen County, Westchester County, Rockland County and Nassau County in Long Island. Our experienced bookkeepers can meet you at your business or provide tax preparation services by downloading your data to our secure location for more efficient processing.
Most people dread the time of year when taxes are added to your company’s to-do list. For the average person, the task of tax preparation is tedious, complex, and aggravating. It’s typical for it to keep getting shifted down the priority list and added to the following day’s to-do list. Procrastination is normal for most people when a task requires a lot of energy.
Why add stress to your days by allowing your company’s tax preparation loom over your head for too long? Or why should you deal with the headache when you can pass it along to someone else? We offer the solution for small businesses – let us handle the job of getting your tax documents ready for your Accountants. If you don’t have an Accountant to handle the compilation and filing of your taxes then we’d be happy to help you in your search.
Our services do not include the actual preparation and filing of taxes for your business. We focus on gathering the documents necessary for your company’s taxes to be prepared.
Reasons for Outsourcing Your Tax Preparation Services
As mentioned above, the main reason for outsourcing tax preparation services is to avoid having to deal with the complexity of preparing your company’s taxes yourself. You are also able to save valuable time and that time can be dedicated to other areas of your business, such as driving sales. You can use your time more productively by focusing on other areas of your business (i.e., marketing, product development, cost-saving initiatives, etc.).
Another main reason for choosing to outsource tax preparation is that you are put to ease knowing a professional is handling your taxes which increase the assurance that all necessary documents will be prepared for your Accountant. The likelihood for mistakes is greatly reduced when you delegate the task to a professional and our services are provided by a qualified CPA.
Necessary Tax Documents
The main documents needed to prepare your company’s taxes are the annual income statement and balance sheet. We’ve provided a general checklist below which provides more detail about what documents are prepared for your accountant. The checklist varies by client. Additional documents are necessary to substantiate certain deductions, such as charitable donations.
We can organize your documents and perform a cursory review to ensure the documents we are providing to your accountant are accurate. The level of review is negotiated on a client by client basis and is really determined by you.
Tax Preparation Checklist
First, we’ll gain an understanding of business operations before we prepare your tax documents and then customize our tax preparation checklist based on the results of our review. Some common types of documents needed to prepare your company’s taxes are listed below:
- Travel expenses (logs may be included in the documents provided to accountant if your employees do extensive traveling)
We also gather all necessary receipt support for the items listed above. We recommend for our clients to keep all support of expenses (i.e., receipts) so you’re able to substantiate the business expenses deducted from your taxable income. This recommendation makes sure your business will be well prepared if it’s ever audited by the IRS.
- Contributions paid to pensions/retirement plans and HSA
- Health insurance and other fringe benefits offered to employees
- Schedule of your company’s fixed assets and depreciation recorded to date
- Proof of estimated tax payments your business paid during the year
- If you have a home office, we’ll record the square footage measurements of your office and home as well as mortgage interest or rent expense and utility payments made during the year.
If you’re a current client then we offer a discounted rate depending on the service package we provide for a couple of reasons; we are more familiar with your business operations and the documents needed for your taxes have been prepared by us. We offer competitive rates for businesses that are not current clients but would like us to assist in the tax preparation process for their business.
Please contact us today for a free consultation and learn how we can help you manage your business with our tax preparation services.
"One of the best I love about having a bookkeeping service like yours is the ability to use as much, or as little as I need.
There are times of the year when I don't need a lot of hours dedicated to paying bills, but in my busiest time of the year I could use twice as many as normal.
It's great you adjust your bookkeeping service to the needs of your clients."