Lynch Tax Services & Bookkeeping

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We help small businesses increase their profits by optimizing their tax preparation and bookkeeping by providing actionable data they could use to grow their business.

Cash flow is the real MVP of your business finances.You can be making great sales, but if the cash isn’t flowing right, ...
05/02/2025

Cash flow is the real MVP of your business finances.

You can be making great sales, but if the cash isn’t flowing right, it can still feel like a struggle.

Keeping an eye on your cash flow helps you:

✅ Stay on top of expenses
✅ Plan for slow seasons
✅ Pay yourself consistently
✅ Make decisions for growth and investment
✅ Spot financial issues before they become problems

Profit looks great on paper, but cash is what keeps the doors open.

Are you keeping an eye on yours?

If not, let’s fix that. Schedule a call with me today, and let’s get your cash flow on track!

https://lynchtsb.com/

If you’ve been affected by a federally declared disaster in 2025, you may qualify for a tax filing or payment extension....
05/01/2025

If you’ve been affected by a federally declared disaster in 2025, you may qualify for a tax filing or payment extension.

The IRS provides disaster relief based on location, but in most cases, only certain parts of a state are covered.

To see if your area qualifies, check the IRS Disaster Relief Page for the latest updates: IRS Disaster Relief Page.

https://www.irs.gov/newsroom/tax-relief-in-disaster-situations


Journal entries might bring back memories from accounting 101 or business class, or maybe you’ve seen your accountant cr...
04/30/2025

Journal entries might bring back memories from accounting 101 or business class, or maybe you’ve seen your accountant create them at the end of the month or year.

They play an important role in adjusting financial records, but most business owners don’t need to create them manually.

Business owners shouldn’t use journal entries manually because one wrong debit or credit can throw off financials and lead to inaccurate reports.

Most everyday transactions like sales, expenses, and invoices don’t require a journal entry.

Manual journal entries are typically used for adjustments such as depreciation, payroll accruals, error corrections, and year-end closing entries.

They are best handled by a bookkeeper or accountant to maintain accuracy and compliance.

If you're following the advice of an accountant, they may guide you on when a journal entry is necessary, but making manual adjustments without expertise can create more issues.

When in doubt, work with a professional!

If you can't file your federal tax return by the April 15, 2025, deadline, request an extension. This gives you until Oc...
04/29/2025

If you can't file your federal tax return by the April 15, 2025, deadline, request an extension. This gives you until October 15, 2025, to file.

Missing the deadline and not filing your return can lead to late filing penalties and interest on any unpaid taxes.

But don’t panic, there are steps you can take to minimize the impact:

- File as soon as possible to avoid additional penalties and interest.

- Pay what you can, even if you can’t pay in full, to reduce penalties.

- See if you qualify for penalty relief if you have a valid reason for missing the deadline.

- Set up a payment plan with the IRS if needed.

Plan ahead for next year to stay on track and avoid last-minute stress.

Need help getting your taxes in order? Contact us today!

https://lynchtsb.com/


As a professional bookkeeper, I don’t just aim for good books, I aim for excellent ones. Your books should give you conf...
04/28/2025

As a professional bookkeeper, I don’t just aim for good books, I aim for excellent ones.

Your books should give you confidence in your numbers, make tax time stress-free, and help you make smart business decisions.

Let’s make sure your books work for you, not against you.

If you started a side hustle in 2025, you’re already on the right track! A side hustle is an amazing way to create extra...
04/27/2025

If you started a side hustle in 2025, you’re already on the right track!

A side hustle is an amazing way to create extra income, explore your passions, and even build a full-time business.

The key to making it successful is treating it like more than just a hobby.

Even if it’s part-time now, taking it seriously will set you up for long-term success.

Here are some tips to help you turn your side hustle into something bigger.

What’s one thing you wish you knew when you started? Drop it in the comments!

Many people assume that filing a tax extension gives them more time to pay, but that’s not the case. Here’s what every t...
04/26/2025

Many people assume that filing a tax extension gives them more time to pay, but that’s not the case.

Here’s what every taxpayer and business owner should know.

- An extension only gives you extra time to file your return, not to pay your taxes. Any taxes owed are still due by April 15, 2025. Late payments can lead to penalties and interest.

- If you can’t file on time, requesting an extension by April 15 gives you until October 15, 2025, to submit your return. This helps you avoid penalties for missing the filing deadline.

- Many worry that filing an extension raises audit risk, but that’s a myth. Filing in a rush and making mistakes is more likely to catch the IRS’s attention.

- If you expect to owe, pay what you can by April 15 to reduce penalties and interest.

- If you’re waiting on important documents or need more time to maximize deductions, an extension can help you file an accurate return and potentially lower your tax bill.

Filing an extension is a great option if you need more time, but it doesn’t delay your tax payment.

Need help getting your taxes in order? Contact us today!

https://lynchtsb.com/


These tools have their purpose, but you still need bookkeeping software to track all transactions, especially for tax ti...
04/25/2025

These tools have their purpose, but you still need bookkeeping software to track all transactions, especially for tax time.

Luckily, some software allows you to integrate with accounting platforms like QuickBooks Online (QBO) and Xero, so you can track everything in one place, including your sales, profit, expenses, and overall financial health.

Is your bookkeeping system giving you the insights you need?

Contact us today to learn more about how we can support your business and keep your finances on track!

https://lynchtsb.com/

If bookkeeping is causing you headaches, you’re not alone! Here are five common frustrations we hear from business owner...
04/24/2025

If bookkeeping is causing you headaches, you’re not alone! Here are five common frustrations we hear from business owners plus how to fix them!

If bookkeeping frustrations like reconciliations, loan tracking, or unpaid invoices are slowing you down, we’ve got you covered!

We handle it all so you don’t have to.

Contact us today to learn more about our services.

https://lynchtsb.com/

In honor of World Book Day, choose your favorites and drop them in the comments and tag a friend. ...
04/23/2025

In honor of World Book Day, choose your favorites and drop them in the comments and tag a friend.

Just a little reminder that we only get one planet, so let’s take care of it. Small actions add up whether it’s recyclin...
04/22/2025

Just a little reminder that we only get one planet, so let’s take care of it.

Small actions add up whether it’s recycling, using less plastic, or just being more mindful of our impact.

Tag a friend and share this post to spread the message this Earth Day!

Address

Tampa, FL

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 7pm
Sunday 9am - 7pm

Telephone

+18136065906

Website

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