Bookkeepers record, organize and interpret financial information, They use computer software to submit periodic reports to their employers: private citizens, small business owners, non-profit organizations, corporations and government agencies.

Many people with disabilities feel that they confront an impossible task; using their limited resources of time, information and income to manage limitless responsibilities. In addition to the demands of daily life, people with disabilities often receive demands for information from government agencies and private companies. This information is usually related to government and private benefits, and to their tax consequences. In addition to tax obligations that may be associated with retirement, survivor and disability benefits, bills arrive from doctors, hospitals, healthcare facilities and personal care assistants.

Bookkeepers help with the organization of information necessary for the submission of federal, state and municipal tax forms. Tax returns can involve complicated issues for people with disabilities. At a basic level, distinctions need to be made between taxed and untaxed income. For example, Supplemental Security Income (SSI) is tax free. However, taxes are owed on other Social Security benefits if one’s modified adjusted gross income exceeds a minimum threshold. Complex tax decisions also depend upon accurate financial information for people who are financially comfortable or wealthy. People with disabilities have an annual disposable income of approximately $220 billion. That’s after the utility bills are paid!

Bookkeepers record small financial transactions so that patterns of information will develop to reveal a “big picture” that will help clients to better understand their financial situation.The goal of bookkeeping is information. Bookkeepers never make financial decisions for the people who employ them. For example, bookkeepers prepare spreadsheets that help people who live on a fixed income to predict daily living expenses and tax obligations. Identical information can result in different outcomes. One client will decide to live more carefully. A second client will plan a vacation. A third client will help with a grandchild’s college education.

A steady hand on the helm of your finances can steer through rough waters and toward shore.
 

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