I am so grateful to all of you for supporting Yield Bookkeeping Services!

I am so grateful to all of you for supporting Yield Bookkeeping Services! Thank you from the bottom of my heart for your wonderful testimonials and nice compliments. We are very proud of our staff and are ready to get everyone prepared for the upcoming tax season!

At the end of October, we were thrilled to be named a Finalist for the Virtual Business of the Year small business award through the Loudoun Chamber of Commerce. I’m so thankful that we were able to come out (in person!) to celebrate with some of the best in Loudoun County small businesses. Here is a picture of some of our team from that night! Thank you again for voting us in as a finalist. I am, again, grateful to my entire team of accountants for their excellent work and customer service.

While tax season 2022 may be months away, New Year's Eve will be here before you know it. The fourth quarter is the time for some proactive tax planning to lower your 2021 tax bill. For business owners, tax planning shouldn't be a once-per-year exercise when filing your taxes. With extensions, you may be able to delay filing your 2021 taxes until late 2022. However, many tax planning moves that can help lower your total taxes owed may need to be made before the end of the current year.

You can read the full article HERE.

And here are FIVE more year-end tax tips from YIELD Bookkeeping Services!

W9s: gather for any company used throughout the year as a contractor. Contrary to popular belief, this applies to any business that isn’t filing as an S-Corp or Incorporated. A lot of times you wouldn’t know that, so the best rule of thumb is to get a W9 for every vendor as you work with new people throughout the year. Yield can compile and issue your 1099s at year-end but it is up to you to gather the W9s needed.
Make sure your books are up to date: If you have been procrastinating on sending statements or receipts to your account manager please do so now! January is very hectic for accountants so the earlier you can provide us with information the better off all of us will be. Please let us know if you are looking for a tax preparer! Yield partners with several CPAs in the area who sometimes will reduce their bills just because you are a Yield client.
Cash basis businesses: If you have cash and want to lower tax liabilities, consider purchasing high dollar equipment or vehicles for your business or even just give out some bonuses or client gifts before Dec 31. Any expense that you can take care of this year will lower your liability for 2021 taxes.
Review your financial statements: I know that some of our clients are so busy that they do not have time to review financials at any point except for right before taxes. Although I strongly recommend reviewing these monthly so that you can make informed business decisions, I do understand that some things are put on the back burner. Please review your statements sometime in November and make sure that you don’t have any questions for your account manager now. Schedule a zoom with your manager if you'd like us to go over them with you!
Hiring people and Payroll: Year-end is a perfect time to try and hire that assistant that you’ve always wanted. Here at Yield, we provide payroll services at wholesale rates with companies like ADP, Paychex, and Gusto! Let us know if you have been wanting to start payroll and we can get that ball rolling now and get it up and running before the year is over. January 1 is a perfect day to start running payroll.

These are just a few things that you should be thinking about before we ring in 2022. Please reach out to your account manager with any questions BEFORE December 31 so we can make sure to have everything accounted for properly going into the new year.

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First, Jodi Carey who was our Chief Operating Officer (and basically doing everything here at Yield) is now our Chief Financial Officer (CFO). Jodi will be focusing more on Yield internal accounting, billing, accounts receivable, budgeting, and will be managing our new Operations Manager. If you ever have a question about your invoice or the hours we have worked, Jodi Carey will be the person to contact moving forward. She can be reached at j.carey@yieldbookkeeping.com and you can also email accounting@yieldbookkeeping.com.

We also have a few new faces around Yield including Alexandra Sagette, Catherine Carter, and Lise McGrew! All three of these ladies are new Senior Accountants and will be managing client accounts. They will be taking on more and more clients as time moves on, focusing a great deal on Astrid's former clients. If you have any questions about your manager, please feel free to reach out to Astrid at a.batista@yieldbookkeeping.com.

My role as CEO hopefully will start evolving from active client work so that I can focus on making Yield even better, growing the company, networking, and working more on philanthropic roles. I am always here if you need me but encourage you to utilize Jodi and Astrid also moving forward. I also will spend some time building up our Small Business Owners Roundtable! More about this is below.

We would also like to congratulate Jodi and Astrid on their growing roles within the company!

Are you a Small Business Owner? Would you like to collaborate and engage with a community of other business owners?

November's Roundtable is all about Gratitude! Giving bonuses and sending appreciation gifts is something all small businesses should consider. Join other small business owners at our roundtable Thursday, November 18 at 4:00 PM to discuss ideas of gratitude and appreciation to boost morale and show your clients you care.

Our next event will be Thursday, November 18th, 2021!!
>> REGISTER HERE