6 Topics That Your Accountant and You Need to Discuss

To keep your finances in check, it’s important to enlist bookkeeping services. Whenever you have a meeting with your accountant, it’s best to maximize your session by breaking down key aspects of your finances and taxes for the year. This is especially important if you are running a business.

To guide you through the conversation that can benefit your bookkeeping best, make sure to include these topics in your meeting.

What the Client Can Bring

As much as your bookkeeper is there to help you, it’s also in your best interest to ask them how you can make their job easier. You can get more assistance and benefits if they have all the necessary documents and details needed to make your life better.

Ask about better practices when it comes to collecting documents and organizing finances, and this way, you can have a more efficient time dealing with your finances.

How to Improve the Next Tax Season

There are many ways to make the upcoming tax season easier than the last. There are changes you can make and deductions to be discovered. As your accountant has the lowdown on tax laws and how they apply to your specific situation, make sure you can ask them about the specifics on what might make the next tax season better.

This can include any questions, from when to make a big purchase to how to maximize your deductions and tax savings.

Employee Well-being

If you’re running a business, your employees are essential to your success. Although this isn’t necessarily in your accountant’s purview, you can always ask them about the financial aspect of improving your employees’ healthcare. 

You have legal and moral obligations to your employees when it comes to their health, so your accountant can help you figure out the best way to meet those responsibilities within your budget. 

Cash Flow Management

If you’re trying to stay in the black, cash flow is your most important topic in mind. It determines how you can continue operations and can dictate whether or not you can afford to expand.

Ask your accountant to analyze your cash flow and pinpoint areas where you can improve. If you know your weak points, you can address any problems that may be impeding your cash flow.

Relevant Tax Regulations  

From sales tax filing alone, a business owner will already be knee-deep in tax concerns. Make sure you have updated insights on tax regulations that are relevant to your business. Your accountant has the knowledge of any industry specifics, so it’s best to bring it up and ask for an update.

Even the way you pay and when you need to do so can shift, so it’s up to your accountant to keep that in check. This also helps you figure out if there are any unnecessary payments you’re making. 

Business Changes Needed

Though you should not put major business decisions on the shoulders of your accountant, they will inevitably have significant input on the taxation and financial side of your business. Consider sharing your financial data so they can help you adjust your day-to-day operations to maximize your finances. 

Conclusion

Bookkeeping services can positively impact the way your business operates. Any steps forward and organizational goals need to be aligned with your financial capabilities. This is why regular meetings with your accountant can be healthy for your money management.

If you need an efficient bookkeeper in NYC, Totally Booked has your back. By handling all aspects of bookkeeping, the financial side of your business no longer needs to be intimidating. Contact us and get your finances in order.