Why Outsourcing With Us?
Why Outsourcing Your Bookkeeping is a Smart Move for Your Business
Outsourcing your bookkeeping offers a wide range of benefits for your business. By automating financial tasks and simplifying essentials like payroll management and reporting, you can free up valuable time and resources.
Many small business owners believe they’re too small to outsource, but that’s far from the truth. In fact, outsourcing can help you save both time and money.
Here’s how:
- Cost-Effective: Reduce the expenses associated with in-house accounting staff.
- Increased Focus: Relieve yourself of time-consuming financial tasks so you can focus on your core business goals.
- Scalable Solutions: Unlike in-house options, outsourced bookkeeping is easier to scale as your business grows.
By outsourcing your bookkeeping, you’re not just simplifying your finances—you’re investing in the growth and efficiency of your business.
How Outsourced Bookkeeping Saves You Money
Outsourcing your bookkeeping is a smart, cost-effective solution that helps reduce unnecessary business expenses while maintaining professional accuracy. By partnering with us, you can save money in several ways:
- Eliminate the Need for Expensive CPAs: Outsourcing ensures expert-level services without the high costs of hiring Certified Public Accountants.
- No In-House Staff Costs: Avoid the expenses associated with recruiting, training, and retaining in-house bookkeeping employees.
- Save on Employee Benefits: Skip the costs of health insurance, retirement plans, and other employee perks.
- Reduce Office Expenses: No need to allocate space for an in-house team, saving on rent, utilities, and maintenance.
- Avoid Infrastructure Costs: Cut expenses on office equipment, furniture, and facilities.
With outsourced bookkeeping, you get expert financial management at a fraction of the cost, allowing you to focus your resources on growing your business.
Other Benefits of Outsourcing:
Saves time
Once the outsourced bookkeeping process is up and running, business owners can focus all their time on running their business rather than wasting time worrying about finishing accounting on time, tax deadlines, and keeping their accounts up to date. this saves a significant amount of time for every business.
Increase Productivity
Typically bookkeeping jobs are handled by important people such as the business owner or someone who would be otherwise involved in operations. When bookkeeping is outsourced these people can focus their attention on business operations and it directly helps increase efficiency and productivity.
Better Control
Decision-making at the right time is very important for a business to have better control of the business performance. When you outsource bookkeeping with us, you will get all the important financial and management reports on time. Having the reports on time is crucial for decision-making and gaining better control.
No need to hire employees
Hiring bookkeepers to manage the billing, accounts payable, accounts receivable, reconciliation, and preparing reports though it is essential, does not add any value to the business. Moreover, management of these employees becomes an additional overhead for any business and that is why many businesses choose to outsource their bookkeeping.
Our Professional Certifications and Recommendations
F.A.Q.
Bookkeeping is the process of recording, organizing, and maintaining a company’s financial transactions in a systematic way. It provides an accurate picture of your business’s financial health, ensuring that income, expenses, and other financial activities are properly documented.
Good bookkeeping is crucial for making informed business decisions, preparing for tax filing, and maintaining compliance with financial regulations. It also helps identify opportunities for growth and areas where expenses can be managed more effectively.
We are experts in both QuickBooks Online and QuickBooks Desktop, ensuring your bookkeeping is managed using the most trusted tools in the industry. If you’re currently using QuickBooks Online or prefer easy access to your books from anywhere, we’ll work with the online version. Alternatively, if you prefer a more traditional setup, we’ll use a secure, locally installed version of the software called QuickBooks Desktop to meet your needs and provide you with periodic reports. This flexibility allows us to tailor our services to your business preferences while keeping your financial records accurate and up-to-date.
You can expect to receive your financial reports, including balance sheets, profit and loss statements, and more, based on your preference in the engagement letter—either monthly or quarterly.
Yes, we specialize in cleaning up messy or outdated books! Whether your records are disorganized or need to be updated, we’ll work with you to get everything back on track. Our team will carefully review and organize your financial data, ensuring your books are accurate and ready for smooth, efficient financial management moving forward.
Absolutely! We take pride in helping our clients understand their financial statements. We’ll explain your balance sheets, profit and loss statements, and other financial reports in simple terms, ensuring you have a clear understanding of your business’s financial health and performance. Our goal is to empower you with the knowledge to make informed decisions for your business.
We offer comprehensive payroll services to ensure your business runs smoothly and remains compliant. Our payroll services include:
- Payroll Processing: We handle all aspects of payroll processing, including calculating employee wages, deductions, and bonuses. We ensure that all payments are accurate and timely, whether through direct deposit or paper checks.
- Tax Compliance: We manage payroll tax calculations, ensuring compliance with federal, state, and local tax regulations. This includes withholding the appropriate income taxes, Social Security, and Medicare, as well as paying and filing your payroll taxes on time to avoid penalties.
- Reporting: We provide detailed payroll reports, including pay stubs, tax filings, and year-end summaries. These reports are designed to keep you informed about your payroll expenses and ensure that your financial records are up-to-date.
- Employee Benefits and Deductions: We also assist with managing employee benefits such as health insurance, retirement plans, and other deductions, ensuring everything is accurately deducted and reported.
Yes, absolutely! We can help with all aspects of payroll taxes and filings. Our team ensures that your payroll taxes are accurately calculated and filed on time, so you never have to worry about missing deadlines or incurring penalties. We handle federal, state, and local tax filings, including income tax withholding, Social Security, Medicare, and unemployment taxes. By entrusting us with your payroll tax responsibilities, you can focus on running your business while we ensure full compliance with all tax regulations.
Yes, we handle direct deposit for employees! We can set up and manage direct deposit payments, ensuring that your employees receive their wages quickly and securely. This efficient system eliminates the need for paper checks, making payroll processing smoother and more convenient for everyone involved. We’ll work with you to set up the necessary accounts and ensure that your employees are paid on time, every time.
Yes, we can definitely help if you receive an IRS notice! Our team is experienced in handling IRS notices and can guide you through the process. We’ll review the notice, help you understand what it means, and work with you to resolve the issue. Whether it’s a simple clarification or more complex matter, we’ll assist in ensuring you’re in full compliance and help you address any concerns quickly and efficiently.
Yes, we partner with a trusted CPA to handle all tax preparation and filing for both individuals and businesses. While we focus on keeping your financial records accurate and up-to-date, our CPA partner ensures that your tax filings are handled professionally and in compliance with all tax regulations. Whether you’re an individual or a business, we work together to ensure your taxes are prepared and filed correctly, giving you peace of mind and freeing you from tax-related stress.
Our pricing for bookkeeping services varies depending on the specific needs of your business. We offer flexible packages tailored to your requirements, ensuring you only pay for the services you need. For more detailed information on our pricing and available service packages, please visit our Services and Pricing page on our website. There, you’ll find all the information you need to choose the best option for your business. If you have further questions or need a customized quote, feel free to contact us directly!
Getting started with TaxKey Accounting is simple and straightforward! Here’s our process:
- Initial Consultation: We begin with a free consultation to understand your business needs, discuss your goals, and learn about your current financial setup. This can be done via phone, Zoom meeting, or in-person.
- Tailored Service Plan: Based on our discussion, we’ll create a customized bookkeeping plan that aligns with your business requirements. This includes outlining the services we’ll provide, such as financial reporting, payroll, or tax assistance.
- Onboarding and Setup: We’ll guide you through the setup process, which may involve signing the engagement letter, connecting your financial accounts to QuickBooks, downloading your bank statements in the QBO format, or transferring existing records. If you need help with IRS notices or tax filings, we’ll coordinate with our trusted CPA partner to ensure everything is in place.
- Ongoing Support: Once you’re onboarded, we provide regular updates, reports, and ongoing support to ensure your books remain accurate and up-to-date.
Yes, we offer a free 30-minute consultation! During this time, we’ll discuss your business needs, answer any questions you may have, and explore how our bookkeeping services can support your goals. It’s a great opportunity to see how we can help your business thrive, with no obligation. You can schedule your consultation directly through our website or contact us to arrange a convenient time.
Yes, I am a certified QuickBooks Pro Advisor with a bachelor’s degree in accounting, earned in 2004. With over 20 years of experience in bookkeeping and financial management, I lead TaxKey Accounting alongside a talented team of professionals. Our team includes experts in accounting and financial reporting, and we partner with a trusted CPA and MBA to handle all your tax and compliance needs. This combination of experience, qualifications, and specialized knowledge ensures your financial needs are in the best hands.
Yes, you will have a dedicated bookkeeper! At TaxKey Accounting, we believe in providing personalized service, so you’ll work closely with a specific bookkeeper who understands your business and its unique needs. Your dedicated bookkeeper will be there to manage your accounts, answer your questions, and ensure that your financial records are accurate and up-to-date. We aim to build a long-term relationship with you, offering consistent, reliable support tailored to your business.
At TaxKey Accounting, we prioritize the security of your sensitive financial data. We use industry-leading encryption and secure cloud-based software like QuickBooks Online to protect your information. In addition to these tools, we use Bitdefender Antivirus to safeguard our systems from malware and online threats. We also partner with Aura Services, a top-tier security provider, to monitor and protect our digital environment. For secure password management, we rely on a trusted Password Manager to ensure that all login credentials are stored safely. These security measures, along with our regular system updates, ensure that your financial records remain protected to the highest standards.
At TaxKey Accounting, we specialize in providing customized bookkeeping services for dental practices. We recognize the unique financial challenges that dental professionals face and offer services designed to promote the growth and financial well-being of your practice.
Our services include managing dental-specific expenses like equipment purchases, supplies, and payroll for your team. We also ensure that your financial records comply with industry regulations and help you generate financial reports that offer clear insights into your practice’s profitability.
With our deep understanding of the dental industry, we allow you to focus on what matters most—delivering exceptional care to your patients—while we handle the financial management.
Yes, we can definitely help track expenses for dental equipment! At TaxKey Accounting, we understand the importance of managing dental equipment costs, whether it’s for purchases, leases, or maintenance. We’ll ensure that all related expenses are accurately recorded and categorized, helping you stay on top of your equipment costs and maintain an organized financial record. This way, you can easily track your investments in dental equipment and make informed financial decisions for your practice.
Yes, we offer industry benchmarking for dental practices! We provide valuable insights by comparing your practice’s financial performance to industry standards, helping you identify areas of improvement and opportunities for growth. Our benchmarking services include analyzing key financial metrics such as revenue, expenses, and profitability, allowing you to make data-driven decisions that align with industry trends and best practices. With this information, you can assess your practice’s position within the dental industry and set realistic goals for future success.
At TaxKey Accounting, we are based in Sterling, Virginia, and specialize in providing virtual bookkeeping services to service-based small businesses. We serve businesses locally in the DMV area and nationwide, offering expert, tailored support remotely to ensure your financial needs are efficiently met.
Yes, we can help you switch from your current bookkeeper! We make the transition as smooth and seamless as possible. Our team will review your existing financial records, ensure that everything is up-to-date, and implement a customized plan to transfer your bookkeeping needs over to us. We’ll work closely
