Tax season is coming up! If you don’t have a small business accounting firm, the task may seem tremendous as you navigate last year’s paperwork and financial records. If you’re thinking of hiring someone to handle your bookkeeping or are looking for tax preparation accounting services, here are a few questions you should ask to prepare for tax season and plan for growth.
How Should I Prepare My Business for this Tax Season?
Preparing your small business for tax season can be overwhelming. Since there are many moving parts and questions to ask, setting aside time and collecting the correct information can be challenging. The CPA doing your small business accounting can give you some peace of mind and break it down for you. Part of their accounting services should be to let you know:
- How much to set aside for taxes
- Which expenses qualify for a deduction
- Which tax credits, if any, you may be eligible for
- Which documents do you need for tax prep
Are There Any New Tax Laws or Small Business Accounting Standards I Should Be Aware Of?
This is an essential question of whoever is doing your bookkeeping. A standard practice with anyone who offers accounting services is to stay abreast of changes and updates to tax laws. It would help if you asked exactly what those changes could mean for you and your business.
How Can Your Accounting Services Keep My Data Secure?
Small business accounting firms regularly handle a lot of sensitive information for their clients. This makes them the perfect person to ask about your own data security. Not only should you ask what they’re doing to keep your data safe on their end, but they can also shed some light on how you store your data on your end. Whoever handles your bookkeeping can often look through and offer suggestions or programs to help protect your data.
What Type of Extra Support Do I Need?
Especially if you’re trying to grow your small business, this is an excellent question for whoever does your bookkeeping. Your accountant should be able to gauge your existing team’s capacity and can suggest how you can optimize your team’s workflow. This could mean hiring independent contractors or automating tedious or time-consuming tasks.
Contact Bowman & Company Today for your Small Business Bookkeeping Needs!
Bowman & Company CPA, PC provides all of our individual and small business customers with experienced, accurate, and affordable financial services. Our financial services aim at decreasing your taxes and increasing your net worth through responsible, timely, and accurate recordkeeping. We offer our services to clients throughout the Washington, D.C. metropolitan area including Maryland and Baltimore County, Columbia, and Howard County. For more information on our offerings, contact us online or call us at (410) 381-8121. You can also find us on Twitter, Linkedin, Facebook, and Youtube.