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While bookkeeping and tax services are often linked, they serve different purposes. Bookkeeping is the ongoing process of tracking and recording daily business transactions. It ensures that your financial records are accurate and up-to-date. Tax preparation services, however, are focused on filing tax returns and ensuring compliance with tax laws. Bookkeeping is essential for accurate tax filing, as it provides the necessary data for tax preparation, ensuring that all deductions and credits are applied correctly.