How Form 8655 Bookkeepers 2024

Hi, I'm Hector Garcia. I'm a CPA and the founder of Quick Bookkeeping and Accounting LLC. My business is a bookkeeping business. My wife and I started this business over ten years ago, even though we had no prior knowledge of accounting or bookkeeping. We conducted research and found bookkeeping to be a good side business, especially since my wife had just given birth to our first child. Within a couple of years, we fell in love not only with the bookkeeping profession but also with serving our clients. This video is dedicated to individuals who are considering starting a bookkeeping business or have recently started one. It aims to provide guidance and insights based on my successful experience and the challenges I have faced along the way. In an article I wrote on this topic, which you can find in the description below, I will continue to update and add more information. However, let me cover some basic thoughts on how to approach starting a bookkeeping business and designing a business that suits you. First, it's important to define the services you offer. Bookkeeping can mean different things to different people, so it's crucial to clearly state what your bookkeeping services cover. For example, there is cash basis bookkeeping, also known as write-up, which involves non-client facing work. In this case, the client provides bank statements, credit card statements, receipts, and other paperwork, which you work on off-site. The client only receives a report or the final financial statement. This service can be provided on a weekly, monthly, quarterly, or annual basis. On the other hand, collaborative bookkeeping entails the client having access and control over their books, while you also contribute to the work. The client often perceives this service as being less costly, but it comes with the potential risk of...