Select Page
Bookkeeping Pros & Cons
Hi, I’m Clark Boyd with Molen & Associates where we unravel tax headaches and build financial vision. Here I will share my two-minute tax tip on why you should or should not hire a bookkeeper.

Let’s start with the PROS:

Keeping an accurate financial record of your business is an essential task, but it is also an extremely time consuming one. Managing your business and running the day to day activities can be enough work. Dealing with payroll, invoices, and the other administrative work can also be overwhelming. Hiring a bookkeeper to do this for you can free up time for you to build your business. Unless you went into business because you love managing your books, delegating this task would allow you to focus on what you enjoy doing and what you are truly good at, which probably makes you more money than dealing with the burden of your own books. Besides, if you are like most business owners, you probably wait until the end of the year to clean everything up all at once. This approach causes more of a headache than it would to stay on top of it each month or quarter.

Even if you have enough time to do your own bookkeeping, hiring a bookkeeper gives you a leg up because someone who does this for a living, could possibly keep better books than you can. This will reduce the possible number of mistakes that could cost you in the long run.

At Molen & Associates, hiring a bookkeeper also gives you access to our tax professionals and aids with tax strategy year-round. Imagine adding our team of professionals to your payroll for just a small monthly fee. Our preparers understand the ins and outs of the tax code and can help you pick up on warning signs or tax savings for your business. What you pay for bookkeeping will be well worth it considering the amount of time and money you will save come tax time.

What are the cons?

The two main downsides to hiring a bookkeeper are the initial work to get things started and trust.  Having someone take over your books is not usually a simple task. It can be quite the process to get things fully transitioned but is well worth it in the long run.

Bringing in someone else to do your books also means having to put your trust in someone else’s expertise, honesty and integrity to represent your business in this crucial area.

Molen & Associates has been in business for almost 40 years and has been trusted by over 10,000 clients. Whether you are just starting out or already have an existing business, let us join your team and we can grow together. I hope you enjoyed today’s two-minute tax tip. For more information, visit us at molentax.com or email me at info@molentax.com.

Clark Boyd

Chief Operating Officer

The Molen & Associates Difference

Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

Caitlin Daulong

“Molen & Associates is amazing! They run an incredibly streamlined process, which makes filing taxes a breeze. So impressed with their attention to detail, organization, and swift execution every year. Cannot recommend them enough!”

Sy Sahrai

“I’ve been with Mr. Molen’s company for few years and I felt treated like family respect and dignity. They are caring, professional and honest, which hard to find these days. Love working with them.”

Corporate Transparency Act – Beneficial Ownership Reporting: Are You Prepared?

he Corporate Transparency Act (CTA), enacted as part of the Anti-Money Laundering Act of 2020, introduces significant changes in beneficial ownership reporting requirements for certain entities operating in the United States. These regulations, set to take effect on...

The IRS is Cracking Down on S-Corp Salaries: How To Your Reasonable Compensation is Safe

The IRS is turning its attention to S-Corporations (S-Corps) and the salaries paid to shareholder-employees. Ensuring that you are paying yourself a "reasonable compensation" is crucial to staying compliant with the law and avoiding potential financial consequences....

Should You Be Making Quarterly Payments?

Tackling your taxes as a small business owner can often feel like a high-stakes game of strategy and a little guesswork. One of the key moves in this intricate game is mastering the art of quarterly tax payments. If you're looking to stay ahead in the tax arena and...

Slash Your Self-Employment Tax

Hey there, hardworking small business owners! Tax season is no walk in the park, but we've got a game-changing secret to share that could put more money back in your pocket. If you're tired of paying hefty self-employment taxes and want to keep more of your...

How Tax Planning Can Help You Grow, Preserve and Protect Your Wealth

Tax planning services from Molen & Associates help you make smart decisions regarding your taxes. We provide individualized advice and information that can save you money and protect your wealth. Our tax planning strategies go beyond just filing your taxes – we...

Why a Local Family Tax Firm is Your Best Co-Pilot in Space City!

Howdy, Houston small business owners! Tax time can be a real whirlwind, but fear not – we've got your back! When it comes to saving time, money, and headaches on your taxes, partnering with a local family tax firm can be the ultimate secret weapon. In this article,...

Uncovering the Top 5 Deductions to Save Time, Money, and Stress!

Howdy, fellow Houstonians! As small business owners in the heart of Texas, we know that taxes can be a daunting and complex puzzle to solve. But fret not, because today, we're here to equip you with some mighty tax hacks that will not only save you time and money but...

Streamline Your Finances with Molen & Associates: The Power of Corporate Accounting

In the fast-paced corporate world, managing finances with precision and expertise is paramount for the success of any business. Corporate accounting plays a vital role in ensuring that financial records are accurate, compliant, and capable of driving informed...

Mastering Your Numbers: The Secret to Small Business Tax Triumph!

Hey there, fellow small business owners! As entrepreneurs, we know that taxes can be a bit overwhelming, especially when you're trying to run a successful business. But fear not – we're here to equip you with the ultimate tax-saving superpower: mastering your numbers!...

Should I Get Life Insurance For My Kids?

Should I Get Life Insurance For My Kids? No parent wants to consider the possibility of collecting a death benefit on their child's life. And this is the reason many families are exploring the option of investing in a child life insurance policy to ensure their...

Request an Appointment Today

1 + 6 =

Call us at

Pin It on Pinterest

Share This