Tax Pros: Bookkeeping Doesn’t Have to Be a Struggle

Whether you’re a tax professional who’s brand new to bookkeeping or someone who’s been offering it and just wants to do it better—you’re in the right place.

This platform was built for you.

Some of you joined the Elite Bookkeeper community to grow.

Some of you are official coaching students.

Some of you are just trying to clean up what you’ve already started.

No matter your level, here’s what you need to know:

You are no longer just a tax preparer.

You are your client’s first line of financial guidance.

Let’s talk strategy—not just filing.

Here’s a real scenario:

Your client’s LLC shows a net profit of $65,000.

That should immediately trigger this question in your mind:

“Is it time to advise them on electing S Corp status?”

✅ An S Corp structure can lower their self-employment tax.

✅ It helps them manage profit more strategically.

✅ And you become the trusted advisor who shows them how—not just the person who files their return.

When you truly understand what’s happening inside the books, you stop guessing—and you start leading.

Now let’s fix the #1 issue even experienced pros get wrong:

The Chart of Accounts.

Let’s be honest—some of you are still naming expense accounts after vendors.

If your client’s QuickBooks has expense categories like “Verizon” or “Amazon,” it’s time to clean it up.

Correct setup matters:

• Verizon should be listed under Telephone or Utilities Expense

• Amazon purchases must be broken out by item type—Office Supplies, Software, Equipment, etc.

Why it matters:

• It impacts tax deductions

• It affects monthly reporting accuracy

• And it reflects your level of professionalism as their advisor

If you’re unsure how to build a proper Chart of Accounts, don’t worry—that’s exactly what we teach inside the Elite Bookkeeper programs and webinars.

Basic Chart of Accounts Structure for Every Tax Pro:

• Income (divided by service or product)

• Cost of Goods Sold (when applicable)

• Operating Expenses (by category, not vendor!)

• Assets (bank accounts, loans receivable, equipment)

• Liabilities (credit cards, loans, taxes payable)

• Owner’s Equity (capital contributions, draws, retained earnings)

When these are done right—everything becomes easier.

Need Help or Want to Go Deeper?

You don’t have to guess your way through bookkeeping.

Whether you’re here to build confidence, improve your process, or get training on how to offer bookkeeping as a service, you have access to what you need.

To:

• Book a consultation

• Register for a class or webinar

• Join a coaching program

Visit: www.iammichelletheaccountant.com

Then scroll to the bottom footer of the site to get started.

— Michelle Wilson, EA, MSA

Tax Strategy Expert | Bookkeeping & CFO

888-379-1397