Bookkeeping and Accounting for Taxidermists

Several tax deductions are typically available for professionals in the taxidermy industry. These may include tools and supplies needed for the practice of taxidermy, business use of a home or separate studio, vehicle expenses if a vehicle is required for the procurement of specimens, advertising costs, and even taxidermy association dues or subscription fees for industry publications. Additionally, depending on their circumstances, taxidermists may be able to claim deductions for bad debts, casualty losses, and some taxes and licenses. However, as tax laws often change, it's recommended that taxidermists or those in the taxidermy industry consult with a professional bookkeeper or accountant to ensure they maximize their deductions and remain compliant with all relevant tax regulations.

Keeping track of your expenses for purchasing or maintaining taxidermy tools is crucial for managing your financial records and for tax purposes. Follow these steps to manage your expenses efficiently:

• Maintain a separate business bank account: This will help you differentiate between personal and business expenses, making your record-keeping straightforward.
• Use an accounting software: There are numerous accounting software options available that can automatically track your expenses, categorize them, and even link them to your bank account or credit card. Such software often comes with additional features helpful for running a business.
• Save all your receipts: This is very important for tax purposes and for maintaining a thorough record of every business transaction, including the purchase of taxidermy tools or their maintenance.
• Record expenses regularly: Recording your expenses on a regular basis, such as weekly or monthly, will ensure that you do not overlook or forget them.

Staying on top of your expense tracking can save you a lot of time and hassle when tax season comes, and provide you with an accurate picture of your business finances.

Bench Accounting's bookkeeping services are designed to handle all financial aspects of your taxidermy business, including the complexities of sales tax. Our team of experts will routinely track and manage all your transactions, ensuring that sales tax is calculated and paid correctly.

We understand that there might be specific considerations unique to the taxidermy industry. These could possibly include inventory management, cost calculations, materials sourcing, and others. We are prepared to handle such industry-specific nuances and ensure that your financial books reflect the accurate and comprehensive picture of your business.

With us, you get to enjoy the benefits of having a personalized bookkeeper, ready to handle any challenges related to your business's bookkeeping needs, so you can focus more on what you do best - bringing natural beauty to life.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.