An accountant is typically a professional who has earned a bachelor's degree in accounting. A CPA, or Certified Public Accountant, is a professional who has earned their CPA license through a combination of education, experience and examination.
Tax Advice and Planning, Audit and Assurance Services, Management and Consulting , Payroll, Administration, Bookkeeping, Long-Term Planning, and Tax Filing.
The short answer is no. You need a CPA on a more occasional basis. If you are a public corporation, only a CPA can prepare your audited financial statements. As an individual, you need a CPA for complicated tax returns and to help and represent you if the IRS is auditing you.
Ask about their specialization.Verify their identification number. Consider their experience. Confirm their willingness to sign. Ask for advice. Consider their fees. Make sure they e-file.
Audit for Compliance. In the United States, the IRS requires that all businesses keep records. Maximize Tax Deductions. Prepare for Audits. Protect Your Business from Liabilities. Budgeting Helps Save Money. Financial Compliance with State and Federal Law.
You might also want to use an accountant if you need to amend a previous year's tax return. It can be worth the expense, as many people find that they actually save money by going to an accountant because their tax refund increases significantly.
Some business owners choose to touch base with their accountant on a monthly basis, but in general, a quarterly meeting is often sufficient to keep you both on the same page.
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