Steadfast Accounting.

Let's chat a little bit about TaxDome and why we prefer for clients to communicate with us through their TaxDome account.

Accounting firms are primary targets for phishing scams (and other cyber crimes) these days. Your data security is TOP priority for us, every single day. Email is an insecure communication and document sharing method.

TaxDome is secure, and we require two-factor authentication which, while annoying at times, is a key step to protecting your information.

We prefer for you to send us a TaxDome chat instead of an email, and we require documents to be uploaded to TaxDome (we do not open email attachments for your data safety!).

Today’s client story is really about value perception.

When I initially met with this client a couple of years ago, after scoping the services they’d need, my proposal came in a little higher than another local firm’s pricing. The client went with the other firm.

Fast forward 8 months, they reached out to me because they were not getting timely bookkeeping, timely responses to questions, or any proactive support.

I sent a new proposal, which they signed. Now, they get books closed on time every month, a dedicated Client Success Manager so their questions are answered within 1 business day (and usually faster than that), notes about anything unusual we spot in their books, and unlimited support for any and alll questions (including meetings if they want them).

Happy Monday, friends!

Here’s your reminder that accounting and taxes aren’t just about compliance. They’re about clarity, strategy, and unlocking potential.

⚓️ Every receipt you track is a brick in the foundation of your business.
⚓️ Every reconciliation is a checkpoint that keeps you on course.
⚓️ Every tax plan is an opportunity to keep more of what you earn and invest it back into your goals.

Think of your books as a map. When they’re clear and accurate, they don’t just tell you where you’ve been. They show you where you can go.

So this week, let’s approach the “numbers work” not as a chore, but as a tool for building freedom, growth, and confidence in our decisions.

Your future self will thank you. 💪

Myth: You only have to make quarterly estimated tax payments if you are a business owner.

Reality: False! Any taxpayer who expects to owe for the year is required to pay quarterly estimates, regardless of the source of income. Here is a real life example:

Taxpayer had $18k of W2 income, $275k of retirement plan distributions (various types, and throughout the year), and a Schedule C that showed no profit. They made a $4k estimated tax payment in Q4. No estimates were paid in Q1-Q3.

Guess what?! Even though they showed no profit for the business, and they made one estimated tax payment, they still had to pay almost $200 in estimated tax penalties for failing to make estimated tax payments in Q1, Q2, and Q3.

“Well, how will I know I’m going to owe before my tax return is done?”

Great question. At Steadfast Bookkeeping, we meet with our clients before tax season so we can calculate their estimated tax liability and ensure they have made the necessary estimated tax payments.

If you are looking for more than once-per-year tax prep, we can help!

FAQ: Why does my P&L (and my tax return) show profit but my business is having cash flow issues?

Well, there are a bunch of reasons for this. Most of them actually relate to the balance sheet. Here are some things that will use up cash from your bank account but do not reduce net income:

⚓️ Loan payments
⚓️ Credit card payments
⚓️ Capital expenditures
⚓️ Owner draws / distributions

If you are having a hard time understanding your financial reports, figuring out your cash flow issues, or understanding your tax returns, we can help!

Let's peel back the curtain a little bit. At Steadfast Bookkeeping, our goal is to use technology where it makes sense so we can free up our people to be hands-on where it makes sense. What does this mean?

⚓ We work with QBO only. This allows our team to know the software inside and out.
⚓ We use ProConnect for tax, primarily because it plays nicely with QBO.
⚓ We use TaxDome as our client portal, and this is where all client communication and document sharing happens, as well as our internal workflow tracking. This allows everyone on our team who works with a particular client to be in the loop on all messages and documents, so our clients don't have to loop multiple people in manually. Email is inefficient and not secure.

The efficiencies we enjoy by having our tech stack dialed in allows us to spend time having live (virtual) meetings throughout the year, to communicate more proactively, and to keep client satisfaction as focus.

If you are frustrated with your accountant's lack of communication, willy-nilly processes, or with feeling like a number on a client list, give us a shout.

Steadfast Bookkeeping Steadfast Bookkeeping provides accounting and tax solutions to small businesses looking to grow and have experts at their back.