FAQ

Taxes

You can reduce your tax bill by taking advantage of tax credits, saving for retirement, contributing to your HSA, setting up college savings for your children, making charitable contributions, harvesting investment losses and maximizing your business expenses.

Tax credits are generally considered to be better than tax deductions because they directly reduce the amount of tax you owe.

Yes, you can claim medical expenses on taxes.

Claiming the standard deduction is easier because you don’t have to keep track of expenses.

Accounting

Bookkeeping is responsible for the recording of transactions whereas accounting is responsible for  interpreting, classifying, analyzing, reporting and summarizing financial data.

The decision to hire a bookkeeper is usually triggered when a business owner is becoming overwhelmed keeping up with the books.

A bookkeeper is there to provide assistance and maintain the financial details of the business leaving the owners more time to grow the business.

Outsourcing bookkeeping saves money in payroll taxes, insurance and other benefits along with overhead for office space and equipment.

First and foremost, keeping your books up to date is essential in the event that your business gets audited. 

Accounting helps managers make data-driven decisions in areas such as analysis, targeting, budgeting, planning and market analysis.