Keeping financial records is essential for a business. Keeping clear records of income, expenses, accounts, and tax documents allows you to keep track of your business’s financial health and make improvements where necessary. Data takes up space. You need to delete old files and records on your system regularly to free up space. How long should records be kept? – This is one of the most common questions business managers ask. Lawyers, accounting services, and bookkeepers in Santa Rosa recommend preserving original documents for at least seven years to defend against lawsuits, potential claims, and tax audits. Here is a [...]

Preparing and filing taxes is a cumbersome process. Tax rules change every year. Plus, there are many things to remember and steps to take when preparing taxes. Your accounting team has better things to do. To ensure your team has enough man-hours to focus on critical tasks, outsource your tax preparation. Outsourcing companies employ knowledgeable taxation professionals. They follow market developments closely and can help you figure out ways to save on taxes. Your outsourcing partner will also help you understand and claim small business tax deductions. Here are some compelling reasons to hire professional accounting services in Santa Rosa. [...]