An experienced bookkeeper could make all the difference in your company’s finances. Perhaps most importantly, bookkeeping services will help you manage risk. Businesses of Gig Harbor, WA, rely on the expertise of Linda M. Shiraiwa CPA, PS, for all of their accounting needs, ranging from payroll calculations to tax help. She explains the main reasons bookkeeping is essential to risk management.

3 Reasons Why Bookkeeping Is Necessary to Manage Risk

1. Comply With State & Federal Laws

Professional bookkeepers are well-versed in the laws necessary to keep you in good ethical and legal standing. Rules and regulations are constantly changing, and it’s their job to ensure your business, investments, and tax filings comply with current laws. By hiring a bookkeeping expert, you minimize the chances of breaking laws and dealing with government penalties. 

2. Maintain Expenses & Client Accounts

Bookkeepers will also maintain your client accounts and invoices. While they’re taking care of the financial side of your business, you can focus your energy on other aspects of your company. Bookkeepers will spot and avoid financial mistakes that impact your business, such as incorrectly charging clients or receiving late payments. They’ll also manage your payroll and track expenses so you can formulate a budget and stick to it.

3. Save Money on Tax Returns

Bookkeeping services will track receipts and cash payments that influence tax returns for your small business. A bookkeeper will also handle important documents that relate to business purchases, credit card statements, and bank statements, which are helpful during tax season. They’ll use their knowledge of regulations to maximize your return and eliminate chances that you’ll receive a call from the IRS. 

Do you need bookkeeping services for your business? Give Linda M. Shiraiwa CPA, PS, a call at (253) 858-6030. She’s known for her dedication to creating personalized solutions for every client, including LLCs, estates, and nonprofits. She’ll also work closely with you to retrieve maximum refunds, making tax season a stress-free time. Visit her firm online to learn more about how her accounting services will minimize your risk and strengthen your financial picture.