To get the best possible advice and optimal tax strategy implementation, your CPA and your bookkeeper need to work together well. Maintaining a dialogue between these two is important to address strategies and any unusual events that might impact the financials. This is especially critical at year-end to address any items that might have a significant tax implication or impact on you and your business.
Your bookkeeper must notify the CPA during the year when important changes arise. Further, your CPA will guide you throughout the year to focus on positioning your business optimally for funding requests, tax season, and budgeting. Your CPA and bookkeeper are part of the business team that understands what is happening in your business. As a result, they can raise and address potential financial issues as they go along.
A business owner cannot know everything. Just the other day, Melinda had a tax question about multi-state tax implications for ZümiFi, as our growth now means new questions. Melinda was relieved to find that our recent changes have no immediate tax implications. That question was raised and answered though in a single business day. Why? Because Melinda is part of a great team, making it incredibly easy to shoot a question over to one of our awesome CPA partners and get an answer within hours. Melinda has plenty of other things to think and worry about – because we are part of a strong financial team, taxes are not something that needs to occupy a lot of her thoughts.
Every business needs a quality partnership between its financial service providers. And, more importantly, the teamwork behind them. So if your bookkeeper and CPA don’t collaborate well, stop for a moment and ask why not? You need all paddles rowing in the same direction.
If you need any recommendations, ZümiFi can help. We have several CPAs with whom we work very well and closely, so a strong, collaborative financial team is most definitely within your reach!