Because you are a responsible business owner, the accounting and tax aspects of your business will always be a concern to you. Complications with that part of your business can be expensive and time-consuming to resolve, which is why you want to make sure they are always appropriately handled. You may have the knowledge and skills to handle these matters yourself or may prefer to rely on one of the many do-it-yourself financial software packages for businesses. While these may seem like wise options, hiring a CPA instead can provide you and your business with number of advantages.
Qualifications
A CPA, or certified public accountant, is a state-licensed accounting and tax professional who must meet certain rigorous standards in order to be certified. He or she has to remain current with extensive financial and tax regulations and has to adhere to continuing education requirements in order remain licensed. With a CPA, you will have the assurance that you have a professional who is skilled in his or her field and can tackle any business tax or accounting issue.
Tailored Financial Analysis and Guidance
A CPA is more qualified than a bookkeeper or accountant to provide customized analyses of tax and accounting issues for businesses. He or she can give you pertinent advice based on the data that has been collected through your bookkeeping and payroll service or any audits he or she performs. This can help you make important decisions about the development of your business, especially if your business is relatively new or you want to begin expanding your operations.
Saves Money at Tax Time
When it comes to tax preparation, there is no need to question whether there are “quality tax preparation near me” or “tax services near me.” In addition to providing you with professional financial services, your CPA will be able to serve as the tax accountant and make sure to claim every credit and deduction for which your business qualifies.
Saves You Time
Having a CPA who is able to efficiently handle all of the accounting, bookkeeping and tax related matters for your business will allow you the time to do what you do best, which is operate your business. Delegating these duties to someone who is already familiar with the various accounting procedures and tax forms and laws eliminates the need for you to carve out time in your busy schedule.
Audit Representative
If your business is ever selected for an audit, your CPA is qualified to advocate on behalf of your business before the IRS. Who you have represent you during an audit is important, especially if the audit concerns the gray areas of tax issues. While you, the owner of the business, are ultimately responsible for what is submitted on the tax forms, you will want someone who is able to easily navigate through the technical aspects of tax law and who is able to negotiate well with IRS.
A CPA is an accounting and tax professional who can provide your business with a variety of tailored accounting and tax services, which can help you become a better and smarter business owner. He or she is a recognized specialist with whom you can confidently consult when you need guidance regarding the financial matters of your business.