The Frequently Asked Questions section for LoRetha’s Bookkeeping & Tax, LLC is designed to provide clear, helpful answers to common questions about our bookkeeping services, processes, and support. Our mission is to help clients/customers make informed business and tax decisions.
Here you’ll find information on how we work with individuals and small businesses, what services we offer, the tools we use, and how we help keep your financial records accurate, organized, and stress-free.
If you don’t see your question answered here, we’re always happy to help—just reach out for personalized support.
What services do you offer, exactly
Here at LoRetha’s Bookkeeping & tax, LLC I offer comprehensive financial services for small businesses. That includes bookkeeping to keep your records accurate, payroll to ensure employees are paid correctly and compliantly, income tax preparation for both business and personal returns, and outsourced CFO support for budgeting, forecasting, and strategic financial planning.
My goal is to give you clean books, smooth operations, and clear financial direction.
Can you customize your services to fit my business and industry?
Absolutely. I tailor all of my services to fit the specific needs of your business and industry. Every company has different workflows, compliance requirements, and financial priorities, so I start by understanding how you operate.
From there, I customize your bookkeeping processes, payroll setup, tax strategy, and CFO-level guidance to match your goals, systems, and growth stage.
Do you also handle payroll and payroll tax filings, or is that separate?
Yes, I handle payroll and all payroll tax filings—and I offer it either as part of a full monthly accounting package or as a standalone service. Some clients want everything under one roof, while others only need payroll support, so I structure it both ways. Either option includes processing payroll, managing withholdings, submitting tax payments, and filing all required quarterly and annual reports.
What is CFO services and why is it outsourced?
CFO services provide the strategic financial guidance that helps you plan, budget, forecast, and make informed decisions. It’s like having a financial leader without the cost of a full‑time hire. I offer outsourced CFO support so you get expert analysis, cash‑flow planning, KPI tracking, and long‑term financial strategy tailored to your business. It’s outsourced because most small businesses don’t need a full‑time CFO, but they still need high‑level financial insight to grow confidently.
Do you need to be licensed to provide CFO? will it be a liability to my business?
CFO services don’t require a special license because they focus on financial strategy—budgeting, forecasting, cash‑flow planning, and decision support—not regulated CPA work like audits or attest services. Outsourcing this role is common and safe for businesses because it gives them expert financial guidance without the cost of a full‑time CFO. I clearly define the scope of work so you get strategic support without taking on unnecessary risk.
Do you prepare sales tax returns and handle multi‑state sales tax?
Yes, I prepare sales tax returns and I also handle multi‑state sales tax compliance. That includes determining where you have nexus, registering your business in the required states, preparing and filing your returns, and making sure your sales data matches what’s being reported.
Whether you operate in one state or many, I manage the full process so you stay compliant and avoid penalties.
Do you do tax preparation, or will I still need a separate tax CPA?
Yes, I handle full business and personal tax preparation, so you don’t need a separate CPA for your annual filings. I manage your bookkeeping, payroll, and tax returns together, which keeps your financials accurate and eliminates the need to coordinate between multiple providers. A separate CPA is only necessary for specialized services like audits or IRS representation.
What exactly will you deliver each month?
Depending on your service agreement, each month, I deliver fully reconciled books, categorized transactions, and a complete financial statement package (Profit & Loss, Balance Sheet, and Cash Flow). If I handle your payroll, I also process payroll, submit payroll tax filings, and provide payroll reports. For clients using my CFO services, I include a monthly financial review, cash‑flow analysis, KPI dashboard, and strategic recommendations. Everything is delivered consistently each month so you always know exactly where your business stands.
Do you have experience in my specific industry or business model?
Accounting is everywhere! and so is LB&T! I work with a range of industries and business models, and I tailor my services to fit the way your business operates. Whether you’re service‑based, product‑based, online, or multi‑state, I adjust your bookkeeping setup, payroll processes, tax strategy, and CFO reporting to match your workflow and compliance needs.
My focus is on understanding your revenue model, cost structure, and goals so you get financial support that fits your industry—not a generic template.
What accounting software do you use, and will you work in my existing system?
I don’t use QuickBooks because it’s built around cross‑selling and upsells that increase costs for both the client and the service provider. It also directs users toward ProAdvisors, which can create conflicts of interest and make it easier for clients to be poached.
I prefer platforms that are more stable, transparent, and designed for long‑term client relationships.
Will I need to change or upgrade my accounting or POS software?
No, you don’t have to change or upgrade your accounting or POS software unless it’s causing problems or limiting your reporting. I can work within your current system, and if it’s functioning well, we’ll keep it. If it’s outdated, inaccurate, or costing you money, I’ll let you know and we can decide together whether switching makes sense.
Will I, as the owner, have full, real‑time access to my books and reports?
Yes — you will have full, real‑time access to your books and reports. I provide a secure client portal powered by OwnCloud where all of your financial statements, payroll reports, tax documents, and monthly deliverables are uploaded and updated frequently.
You can log in anytime to view or download your information, and everything is organized and stored securely for your convenience.
What does your onboarding process look like, and how long does it take?
Our onboarding process typically takes 1–2 weeks from registration to full processing. It’s designed to give you clarity, give us alignment, and give both sides a chance to confirm the partnership before the agreement is finalized
What data security measures do you have in place (encryption, access controls, backups)?
Yes — your data is protected with multiple layers of security. All documents are stored in a secure, encrypted OwnCloud portal with strict access controls and real‑time updates. In addition to digital security, I perform nightly backups of your files to an external hard drive.
When our engagement ends, you receive that drive so you have a complete, portable archive of your books, reports, and tax documents. This ensures your information is always safe, always accessible, and always under your control.
Do you have cyber liability or errors‑and‑omissions insurance?
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What happens to my data and access if we decide to stop working together?
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What is your pricing structure (fixed fee, hourly, tiered packages)?
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How do you help me understand my numbers so I can make better decisions?
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Do you work with a 3rd parth for sales and marketing?
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If my needs expand, can you scale services or connect me with higher‑level accounting support?
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