For an additional fee, Bench provides overdue bookkeeping services and can finish a year’s worth of bookkeeping in about two to four weeks. This could be helpful if you’ve been behind on your books all year and tax deadlines are approaching. Bench collects your payroll data using a third-party technology platform called Finch. Finch partners with over 200 HR information systems and payroll providers to build secure integrations between providers and other apps and services. Both Bench and Finch are SOC-2 compliant with security practices that meet or exceed industry standards. How seasoned entrepreneur Steve Schmidt bounced back from a financial setback with the help of Bench Accounting.
- See your business’s financial health at a glance, and stay in control of cash flow.
- With FreshBooks Payments you can start accepting credit card payments online right away, with zero set up required.
- The cost is much less than hiring a tax expert, and the expense is tax-deductible, but you should be honest with yourself in your confidence to file your own taxes.
- Unlike other bookkeeping solutions, we don’t remove your login access after your subscription has ended.
- Note that even with a filing extension, you still need to pay an estimate of your taxes by April 15.Need assistance?
- You can find real reviews from over 900 Bench clients here.
- Or, let us handle the year end prep and filing for you with BenchTax.
Catch-Up Bookkeeping
Around tax season, it’s normal for us to make further final year-end adjustments to get your books fully IRS-compliant for tax-filing purposes. These changes will be reflected in your year-end financial package. We offer year-round bookkeeping services and unlimited tax advisory support with specific plans to cover all your needs. No hidden fees, no year-end surprises—just reliable tax and bookkeeping support. Once we have everything set up, we’ll complete a month of your bookkeeping. Our bookkeepers reconcile your accounts, categorize your transactions, and make necessary adjustments to your books.
How to Read (and Analyze) Financial Statements
Small business bookkeeping and tax services from Bench ensure you’ll get every deduction you deserve. Your bookkeepers reconcile your accounts, categorize your transactions, and produce your monthly financial statements. They also make adjustments to your books to ensure they’re tax-compliant. We provide our clients with a modified form of cash basis bookkeeping. With this system, we record transactions as soon as the money has been deposited into your bank or charged to your bank/credit card. After you sign up to Bench, a member of our bookkeeping team will assist you in connecting all your financial accounts securely to our platform.
How to Get Ready for Tax Season
- Every report accessible in the Bench platform can be exported to an Excel file for easy sharing with anyone from business partners to accountants.
- During your demo, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business.
- Try for free and save 30% off your first 3 months as a Nav member.
- The deadline is January 31.If you made payments to nonemployees in the last year (payments of fees, benefits, commissions, prizes, and awards), a 1099-MISC is due on February 17.
- As of August 2019, Bench announced BenchTax in partnership with Taxfyle14 in order to provide tax preparation and filing for clients.
- Bench currently does not complete tax filings or tax planning for nonprofits, businesses with shareholders who are not US citizens, or personal income taxes for non-US citizens.
This team, led by bookkeeping a senior bookkeeper, manages your financial records, ensuring accuracy and consistency. The human touch sets Bench apart from purely software-based solutions. From year-round bookkeeping and unlimited tax advisory support, they have you covered.
Why does Bench Need Documents From Me?
- Our Bench Tax Advisors are licensed tax professionals that facilitate the preparation of your income tax return, review it with you and then get it filed with the IRS and your state.
- You won’t need any other software to work with Bench—we do everything within the platform.
- But moving the information and verifying it was done correctly can take time.
- With check-ins throughout the year, your team leaves no tax deductions behind.
- Spend less time on accounting and more time doing the work you love.
Taxfyle experts have Bookstime an average of 15 years of experience. They’re also background checked, accredited, and based in the USA—giving you total peace of mind. Whatever stage your business is at, you’re covered with Bench Tax. We cover the tax support, prep, and filing from start to finish. You can add any amount of catch up bookkeeping to your Bench plan.
- The total price for a yearly plan is billed at time of purchase.
- Less stress for you, more time to grow your business.
- Shortly after you sign up, we’ll give you a call to learn more about your business and bookkeeping needs.
- They also make adjustments to your books to ensure they’re accurate and tax-compliant.
- Tax professionals may structure their service pricing differently.
Catch-up bookkeeping available
That means you’ll never lose access to your data within our platform. All reports can be easily exported to an Excel file to share with your accountant or future bookkeeping provider. We can fully wipe your data, too—at the end of the day, it’s your info and bench tax login your call. It’s best for freelancers or small businesses with relatively straightforward financials. If someone else has employer admin access to your payroll, they will need to log into Bench to set up the connection. To provide them with Bench access, you can message your bookkeeper to have that person added as an additional user.
Unlimited customer support
If a third-party admin or accountant user is needed, you will be notified on the provider login screen below the username and password fields. If the user is removed, the connection will no longer work. You can learn more about Finch’s security practices on here. Yes, if your new provider is supported by our integration, then we will need to create a new connection for that provider to sync your payroll data.