A dedicated bookkeeper can help you understand your tax prep, cash basis, business’s financial health, profit and loss statement, plan smarter and make better tax predictions for your small business. During tax time, accurate books will ensure that you will get the full benefits of your deductions, including tax planning, payroll tax and business tax. You need bookkeeping services that will help small business owners prepare their monthly bookkeeping including preparing financial statements, profit, and loss statements. Small business owners should have their own bookkeeper or at least accounting software.