Online bookkeeping company

For online bookkeeping, it is crucial to use IRS Publication 583 and the IRS recordkeeping page as the federal backbone for retention and electronic records, ensuring employment tax records are kept for at least 4 years.

Payroll and employment recordkeeping must align with DOL and IRS requirements, necessitating coordination between bookkeepers and payroll providers. Sales tax is state-specific; businesses must detect nexus early, register promptly, set up tax codes, automate collection, and reconcile remittances.

Adopting and documenting strong security controls, including considering SOC2/SOC reporting for third-party assurance, is essential. Finally, ensure clear onboarding processes, offer tiered pricing, and escalate tax-related matters to CPAs.

For online bookkeeping, it is crucial to use IRS Publication 583 and the IRS recordkeeping page as the federal backbone for retention and electronic records, ensuring employment tax records are kept for at least 4 years.

Payroll and employment recordkeeping must align with DOL and IRS requirements, necessitating coordination between bookkeepers and payroll providers. Sales tax is state-specific; businesses must detect nexus early, register promptly, set up tax codes, automate collection, and reconcile remittances.

Adopting and documenting strong security controls, including considering SOC2/SOC reporting for third-party assurance, is essential. Finally, ensure clear onboarding processes, offer tiered pricing, and escalate tax-related matters to CPAs.