Catch-Up
Bookkeeping Services

Yes, catch-up bookkeeping is fully tax-deductible as a business expense. This includes the service fees, any associated tax preparation costs, and consultation fees. Many clients find their first-year tax savings from proper categorization significantly offset the catch-up cost. Keep all receipts and invoices for your business tax return.

You'll need bank statements, credit card statements, receipts, invoices, and any existing QuickBooks or accounting files. Don't worry if everything's disorganized - that's exactly why you need catch-up help. Most services can work with whatever you have, even if it's just bank statements. Professional services often have secure portals where you can upload documents safely.

Professional catch-up services can often help reduce or eliminate IRS penalties through proper documentation and penalty abatement procedures. Our CPAs have successfully negotiated penalty reductions for clients who were behind on filings. However, time is critical - the sooner you address the situation, the better your chances of penalty relief.

Yes. Our catch-up process often reduces tax liability through proper deduction identification, and we work with tax resolution specialists when needed.

Look for services with CPA oversight, not just bookkeepers. Ask about their experience with businesses similar to yours and request client references. Make sure they provide clear timelines and cost estimates upfront. Avoid services that give vague pricing or seem to rush through the assessment process. The cheapest option usually isn't the best when you're dealing with catch-up work. This is why at Plutus, our expert CPAs make sure to understand your business before we move forward.

Regular bookkeeping maintains current records monthly, while catch-up bookkeeping reconstructs historical records that have fallen behind. Catch-up work is more intensive because it requires detective work to piece together past transactions, resolve discrepancies, and ensure nothing gets missed. It also typically includes more CPA review since there's a higher risk of errors in backlogged records.

Yes, our team is also certified Quickbooks Advisors that regularly deal with corrupted, incomplete, or incorrectly set up QuickBooks files. Some businesses come to us after trying DIY QuickBooks for months and making things worse. Business owners should focus on running their business, not the complexity of being drowned in receipts, invoices, and transaction reconciliations.

This is one of the biggest benefits of professional catch-up services. Our CPAs typically find thousands in overlooked deductions during the reconstruction process. Business owners often miscategorize expenses or forget to claim legitimate deductions. We've found everything from home office deductions to equipment purchases that weren't properly recorded. The tax savings often exceed the service cost.

Most services can go back several years if needed. However, the IRS only allows you to amend returns for three years, so going back further than that may not provide tax benefits. The farther back you go, the more expensive and time-consuming it becomes. Our team has handled businesses that were 5+ years behind, though we typically recommend focusing on the most recent 3 years for maximum benefit.

Expect an initial assessment where you'll discuss your situation and receive a timeline and cost estimate. Then you'll gather and submit documents through a secure portal. Our team will reconstruct your records, categorize transactions, and prepare financial statements. You'll receive regular updates and have direct access to our team to ask questions. The process concludes with a full financial package and recommendations for staying current.

Absolutely. Banks require current, accurate financial statements for business loans. Catch-up services provide the clean financial records lenders need to evaluate your application. Many clients specifically get caught up because they need financing for expansion or equipment purchases. Having professional financial statements significantly improves your chances of loan approval and better terms.

Definitely. Buyers expect clean financial records and will either demand lower prices for messy books or walk away entirely. Professional catch-up services can actually increase your business valuation by presenting your financials in the best possible light. We've seen businesses increase their sale price by $50,000+ just by having properly organized financial records that show true profitability.