Is Your Current Bookkeeper Measuring Up?
Is your bookkeeper working with you to maximize your tax write-offs? Is she helping you to reduce your company’s tax liability? Is he pushing you (nagging) to get him the documentation that he needs to document EVERY POSSIBLE expense your company may have?Ask yourself the following questions…..
1. Does your bookkeeper provide suggestions on maximizing tax-free contributions (IRA, HSA, 401K)
2. Does he inquire about possible personal credit cards, bank accounts, etc where hidden business expenses may lie?
3. Do you know your Gross Income? (Revenue minus the Cost of goods) How much you need to sell to break even?
4. Do you know who owes you money? Better yet, are you collecting this money?
5. Are both your Profit & Loss Statements and Balance Sheets correct? Do you understand them?
If you can answer no to any of these questions, it may be time to move on.