Does anyone like to do their own taxes? My guess is that the answer is mostly no.
Not many people like to figure out their own taxes, and would it not be so much easier if you could have someone else make a budget for you? It takes so much time to keep your own records, not to mention that it can get boring, tedious, and sometimes confusing. Fortunately, there are Tucson bookkeeping services, which are usually also accounting services, that can do your taxes and make a suitable budget for you. Bookkeeping services are great, especially if you own a business because they can take care of all the company’s financial needs for you.
First, I want to explain the difference between bookkeeping and accounting:
Bookkeeping is when you keep track of everything financial (payroll, taxes, sales, debt) in certain categories, or accounts. This is done by trained professionals, and they use special computer programs. Bookkeepers need extra schooling and certification.
Accounting is taking financial information and deciding what to do based on this data. Accountants make personalized budget plans that work for you. Accountants also need additional education, which is usually at least a bachelor’s degree. Accountants are referred to as CPA’s.
Here are 4 things bookkeeping and accounting services do for their customers:
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Managing accounts payable: Accounts payable are records of money you might owe to others. Your Tucson bookkeeper can keep track of how much you have paid already and how much you still owe. They will even write checks and mail the payments if you want. Bookkeeping services make it so much easier to keep track of the money you owe.
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Taking care of accounts receivable: Accounts receivable are records of the money owed to you. This is great for small business owners, because a bookkeeper can manage these by keeping track of all the sales you make. They will then make sure you get paid by your customers by sending out invoices, and by often calling customers who haven’t paid by their due date to get your money for you.
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Payroll: If you own a small business, accountants calculate how much you owe your employees each week. They also make sure the correct amount in taxes is taken out of each employee’s checks. When you have to do your own payroll, it takes a good amount of time out of your day. That’s why you should let your bookkeeping service handle that: to save some time in your busy schedule.
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Taxes: These can be such a pain to do on your own, plus they are often confusing! It is much easier to have a Tucson accountant or bookkeeping service help you, if only to avoid having the IRS (Internal Revenue Service, or the US government branch that collects taxes) audit you. Nobody wants to be audited, so why not avoid mistakes in your taxes by having a professional do them for you? Your accountant does all the hard work for you, and all you have to do is sign where they tell you to do so. You will save so much time and not get in trouble with the IRS.
Why create more work for yourself in your already busy schedule? If you hire a Tucson bookkeeping and accounting service, you can spend less time crunching numbers to find ways to save money. Accountants and bookkeepers are trained for that job, and they know the best ways to save you money. Also, once tax season comes around, you’ll be very grateful for your accountant. They really save you a lot of time and stress by preparing your taxes for you!
