While we built AcuityComplete to help entrepreneurs avoid the headaches of bookkeeping, we’ve also found another group of people who’ve been fans of what we’ve been doing: Tax CPAs. Along with you, the entrepreneur, the other person who hates bad bookkeeping is the person who does your tax returns. Here’s what bad bookkeeping does for Tax CPAs:
- Costs Them Money – If your books show up in a mess and your CPA decides they have to help clean them so that they can get the tax work done, they’re losing money on you as a client. You may get away with that for one tax return, but you’re going to get charged a much higher fee next time they do work for you. And you’ve also just become a “problem client” and guess how many favors or how responsive your CPA will want to be for a “problem client”? Can you blame them?
- Costs Them Time – Bad bookkeeping shows up as a box of receipts the day before a tax deadline. Tax CPAs rarely see the light of day in March/April and then again in September (extensions) so pouring more work on them during that time period costs them massive amounts of time. Keeping your books caught up and delivering your CPA a tax package well before their busy season just might make you their favorite person ever.
- Takes Them Away From Their Expertise – The Internal Revenue Code is complicated, lengthy, and constantly changing. You want a CPA who’s an expert in the tax code and it’s implications to your business and not someone having to clean up bookkeeping. Paying high hourly rates for a subject matter tax expert makes perfect sense, but paying that person to do bookkeeping does not.
AcuityComplete focuses on just doing bookkeeping and NOT taxes…. which makes tax CPAs such a perfect partner to us. We don’t know the tax code like they do, but we love getting them accurate and timely financials to make their lives easier. We had a chance to chat with a tax CPA that we frequently work with and asked him about why he likes working with us:
- If you’re a CPA, what are other pain points that you experience from bad bookkeeping? What would make it better?