Taxes. What a headache. Year after year. But wait, there is actually a way to do taxes efficiently and pay the least amount you legally owe, each and every year. The secret? Hire a skilled and experienced CPA.
Who is a CPA?
Certified Public Accountants (CPAs) are highly trained individuals who look at the details of money movement and financial transactions in businesses, organizations, and for individuals. They are trusted financial advisors because they are licensed and have passed a rigorous CPA exam. In addition, they have fulfilled all the educational and work experience requirements in their state that are required for them to become a licensed CPA.
CPAs are incredibly detail-oriented. They are well-prepared in the nuance of taxes, budgets, and day-to-day business operations. Good CPAs possess excellent interpersonal skills and a fine interest in details.
How Can a CPA Help With Your Taxes?
The best CPA's serve their clients by using an integrated hand-in-glove approach to tax planning, tax preparation, and business accounting. The federal tax code is huge. A tax-savvy CPA is up-to-date on the current tax code and can apply it to your personal or business tax situation so you don't have to spend countless hours doing it yourself.
Furthermore, a practicing CPA is in business for the long haul. They will be there, minimizing your tax liability year after year. In addition, they will support you if an audit occurs. And there is no doubt you will want them by your side if one should occur.
If in Doubt, Partner with a CPA
Many individuals and small businesses attempt to prepare and file their taxes by themselves. This may not be a good idea. If you don't have a good working knowledge of the federal tax code or are not efficient with numbers and details, you may wish to hire a tax-savvy CPA for your tax preparation and filing.
Here are a few things that a competent CPA can do for you year after year:
- They will maintain your tax information much like a health professional keeps a patient’s medical records
- They will save you an incredible amount of time so you can focus on your real duties
- They will likely find tax breaks that you would never uncover by yourself
- They are professionals; your success is the key to their success
Tips for Selecting the Best CPA
Sharks circle the waters in all businesses, especially those involved with money. Not everyone who claims that they are a good CPA is worth your time and effort. Here a few interview questions that will help in the selection of a good CPA for your tax purposes:
- How long have they been in business?
- What is their fee structure and how do they get paid?
- Can they provide references of satisfied customers?
- What will they do if you are audited?
- Are they comfortable to work with?
- Will a real CPA actually work on your particular account?
These are but a few things you will want to know before partnering with a CPA.
In Summary, CPAs Help You Make Fewer Financial Mistakes
Indeed, one of the areas in which a good CPA can help you is in the avoidance of making errors and mistakes when filing your taxes. The average person’s mind is prone to making errors with personal or business tax filing. Some of this comes from having a poor plan, or no plan at all. Your best bet is to work with a professional CPA.
Certified public accountants excel at providing top-notch tax planning services, but they can also do so much more for you. Contact us to learn more about our tax planning services and so much more!