Taylor Made Bookkeeping

Why Monthly Reconciliation Matters

Can we all agree that bookkeeping is one of those things that’s really easy to put off?

You get busy serving clients, answering emails, managing orders, and before you know it, a month has turned into several.

Then tax season rolls around, and suddenly you’re digging through receipts, searching old bank transactions, and wondering where the time went.

If you’ve ever been there, you’re definitely not alone.

The truth is, reconciling your books each month doesn’t just make tax season easier. It gives you a clear picture of how your business is doing while there’s still time to make changes.

Taking a little time each month can help you:
✔️ Catch mistakes early.
✔️ Keep track of where your money is going.
✔️ Feel more confident when making business decisions.
✔️ Stay ahead of tax deadlines instead of scrambling.

It doesn’t have to be perfect, and it doesn’t have to take hours. The important thing is staying consistent.

Your future self will thank you when tax season comes around.

Be honest… are you someone who reconciles your books every month, or is it one of those things that keeps getting pushed to next week? We’d love to hear from you in the comments!

Just like that, June is behind us.

Before you jump into a new month, take a few minutes to look back.

Did your finances help move your business forward this month, or did they leave you with more questions than answers?

Maybe you stayed on top of your bookkeeping and feel ready for what’s next. Or maybe you’ve been so busy running your business that your books have taken a back seat. If that’s you, you’re not alone. It happens to more business owners than you might think.

A new month is a fresh opportunity to get organized, understand where your business stands, and make confident decisions moving forward.

As you head into July, ask yourself:
Are my books up to date?
Do I know how my business performed this month?
Am I prepared for the next financial deadline?
What is one financial goal I want to accomplish in July?

You don’t have to have everything figured out overnight. Sometimes all it takes is a plan and the right support to get back on track.

If you’re heading into July feeling overwhelmed by your books, let’s create a plan together. We’d love to help you start the new month with clarity and confidence.

How would you describe your June in one word? Share it in the comments, we’d love to hear how your month went!

Start Preparing for Q3 Now

Is it just us, or does it feel like this year is flying by?

Before we know it, we’ll be heading into the third quarter, and now is a great time to pause and check in on your business finances.

We know how easy it is to get caught up in the day-to-day. You’re focused on serving clients, answering emails, filling orders, and putting out fires. Before long, weeks have passed and your bookkeeping ends up on the back burner.

If that sounds familiar, don’t worry, you’re definitely not the only one.

Take a few minutes this week to ask yourself:

✔️ Are my books up to date?
✔️ Do I know how my business is really doing?
✔️ Have I been setting money aside for taxes?
✔️ Am I still working toward the goals I set at the beginning of the year?

You don’t have to wait until December to get things back on track. In fact, a simple mid-year check-in can make the rest of the year feel a whole lot less overwhelming.

Knowing your numbers gives you the confidence to make better decisions, spot opportunities, and prepare for whatever comes next.

If your bookkeeping has been on your “I’ll get to it later” list, let this be your reminder that there’s no better time than now.

As we head into Q3, what’s one goal you’re hoping to accomplish in your business? We’d love to cheer you on in the comments!

https://www.taylormadebooks.net

The Answer Is… D. All of the Above!

If you guessed D, you got it!

Here’s why:

Sunscreen – If you work outdoors (think landscapers, construction workers, lifeguards, or others whose work requires prolonged sun exposure), sunscreen may qualify as a business expense in certain situations.

A Boat – While you can’t write off a boat just because you own one, it could be deductible if it’s used for legitimate business purposes. For example, a fishing charter, tour company, marine research business, or another business where the boat is ordinary and necessary.

Pet Food – If the animal is a working business animal, such as a guard dog protecting a warehouse or livestock guardian on a farm, the cost of food and care may qualify as a business expense. Family pets generally do not qualify.

The takeaway?

It’s not about what you buy, it’s about why you bought it and how it’s used in your business.

One of the biggest tax myths is that “everything is a write-off.” In reality, the IRS expects business expenses to be ordinary, necessary, and well documented for your specific business.

When in doubt, ask before you deduct. It can save you a lot of stress come tax season.

Guess the Expense!

Let’s have a little fun today.

Believe it or not, there are some business expenses that sound a little unusual… but depending on your business and how they’re used, they may actually qualify as legitimate business deductions.

So here’s today’s challenge:

Which one do you think could be a legitimate business expense?

A. Sunscreen ☀️
B. A boat 🚤
C. Pet food 🐶
D. All of the above

Drop your guess in the comments before you scroll!

The answer might surprise you.

(And no, this isn’t a trick question. There are situations where each of these could qualify, but it all depends on your business and how the expense is used.)

One of the biggest tax myths we hear is, “Everything is a write-off.”

Unfortunately, that’s not how it works. Every deduction has to be ordinary, necessary, and properly documented for your specific business.

We’ll reveal the answer tomorrow!

Tax Deadline Survivor Check-In

Well… we made it through another estimated tax deadline.

Whether you submitted your payment weeks ago or found yourself logging in at the last minute yesterday, you are not alone. Running a business is a lot, and sometimes those dates seem to arrive much faster than expected.

One thing I hear from business owners all the time is, “I swear it wasn’t on my calendar yesterday.”

Trust us, we’ve heard it before.

Now that the deadline has passed, take a moment to check in with yourself. Did you feel prepared? Were your numbers easy to find? Or did you spend time digging through emails, bank statements, and receipts?

There is no right or wrong answer here. Every business owner has been there at some point.

Drop a comment below:

How did yesterday go for you?
• Smooth and stress-free
• A little hectic
• I’d rather not talk about it

No judgment. We are all just trying to keep the plates spinning while building something great.

Estimated Taxes Are Due Today

Today is the deadline for second-quarter estimated tax payments.

If you are self-employed, a freelancer, an independent contractor, or a small business owner who makes estimated tax payments, now is the time to make sure your payment has been submitted.

We know taxes are not the most exciting part of running a business. Most business owners would rather focus on serving clients, growing their business, and doing what they love. But staying on top of tax deadlines can help you avoid unnecessary penalties and surprises later.

If this deadline caught you off guard, do not beat yourself up. It happens more often than you might think. The important thing is having a plan moving forward.

One of the biggest stress relievers for business owners is knowing exactly where they stand financially throughout the year. When your books are up to date, tax deadlines become much easier to manage because there is no guessing involved.

Need help planning for future estimated tax payments or getting your books organized? Let’s talk. Taylor Made Bookkeeping would love to help you create a system that gives you confidence and peace of mind all year long.

www.taylormadebooks.net

3 Days Until Estimated Taxes Are Due

A friendly reminder for business owners, freelancers, and self-employed individuals:

Your second-quarter estimated tax payment is due June 15.

If you are required to make estimated tax payments, now is the time to review your income, calculate what you owe, and make sure you are prepared before the deadline arrives.

Waiting until the last minute can create unnecessary stress, especially if your bookkeeping is not up to date.

A few things to check before June 15:
• Make sure your income and expenses are current
• Review your profit for the year so far
• Confirm your estimated tax amount
• Schedule your payment if you have not already

Staying ahead of tax deadlines helps avoid penalties and makes managing your business finances much easier throughout the year.

Not sure if you should be making estimated tax payments or if your books are ready for the deadline? Taylor Made Bookkeeping is here to help.

Employee Tip Reporting Reminder

A quick reminder for businesses and employees who receive tips:

If an employee earned more than $20 in tips during May, those tips should generally be reported to their employer by June 10th.

This is an important step for accurate payroll reporting and helps avoid potential tax issues down the road.

If you own a restaurant, salon, hospitality business, or any business with tipped employees, now is a great time to make sure your records are current and organized.

Sometimes the small deadlines are the easiest to miss, but staying on top of them can save a lot of headaches later.

Does your business have a system in place for tracking tips and payroll accurately?

Mid-Year Financial Check-In

We’re officially halfway through the year. Have you looked at your numbers lately?

June is the perfect time to pause and take a closer look at your business finances before the second half of the year gets away from you.

Ask yourself:

• Are your revenues where you expected them to be?
• Have your expenses increased more than planned?
• Are you setting aside enough for taxes?
• Is your cash flow healthy?
• Are you on track to meet the goals you set at the beginning of the year?

If the answer to any of these questions is “I’m not sure,” you’re not alone. Many business owners get so busy running their businesses that financial reviews end up on the back burner.

The good news? There is still plenty of time to make adjustments, improve your systems, and finish the year stronger than you started.

A mid-year financial check-in can help you identify opportunities, catch potential problems early, and make more confident decisions moving forward.

Remember: You cannot improve what you do not measure.

Have you reviewed your business finances recently, or is a mid-year check-in still on your to-do list? Let us know in the comments.