ChatFBPFriendly companion to help Food Bloggers on their journey

Second episode of the finance series is out! https://pod.link/1014116331

Name: Second episode of the finance series is out! https://pod.link/1014116331
Uploaded: 2025-01-17T19:06:12+00:00
Duration: 58 s
Channel: ChatFBP
Description: Short excerpt from a YouTube finance-series episode discussing the distinct roles of bookkeeping and tax professionals: bookkeeping involves monthly…

17 Jan 2025 · 1 min

Watch on YouTube

0:58

Short excerpt from a YouTube finance-series episode discussing the distinct roles of bookkeeping and tax professionals: bookkeeping involves monthly categorization of income and expenses to capture deductions, while tax work focuses on quarterly tax payments, tax liability estimation, planning, and strategies. The speaker advises that while tax professionals and bookkeepers usually specialize, combining both services in one place is ideal to avoid managing multiple providers.

Chapters

So bookkeeping is just the process of on a monthly basis going through categorizing all the income expenses, putting in the right categories. Make sure you are capturing every deduction. That's what bookkeeping's role is. And then taxes that role is then to quarterly basis. Make sure you're paying as much as you should be in quarterly taxes throughout the year. It's learn that tax liability, tax planning, tax strategies. And that's right where taxes come in. We're bookkeeping when it so it's a common question we get of like should I hire a bookkeeper or tax person? The first step is usually the tax person by dilly it's combined. Sure. That way like you're not going to two different people. But a tax person typically won't do the bookkeeping and bookkeepers won't do the taxes. So so ideally they're combined into one place. You're not going to multiple different places.