Tag Archives: CPA

Certified Public Accountant to Maximize Your Tax Benefit

4 Apr

If you run a small business or have an unusual tax situation, it can be highly beneficial to hire a Certified Public Accountant (CPA), not only because he or she can get you more deductions, organize your bookkeeping and identify weak areas in your businesses finances, but also because they can reduce your chances of triggering an audit. Tax filing and preparation is not an easy business, but it needs profession services of a tax accountant or a CPA.

Having your tax returns prepared by a CPA accounting firm dramatically reduces the chances of errors or omissions. CPA firms typically employ experienced tax accountants who have earned an accounting degree and have passed a rigorous certification process.

Having a personal accountant from a CPA firm also increases the chances that you’ll get all the tax credits and deductions that you’re entitled to. That translates into not having to pay more taxes than necessary, which can result in substantial savings over a period of time. An experienced accounting firm or CPA will also provide tax planning guidance to help you avoid future IRS problems, such as owing IRS back taxes.

Find a CPA tax accountant which can go a long way into helping your business succeed. If you want to hire a local CPA you can check at your city’s Better Business Bureau and with your local Chamber of Commerce as they will likely have any information on all the professionals in your area. Ask your network of family and friends, plus any acquaintances for a good Certified Public Accountant recommendation.

Services a CPA can offer you or your business:

  1. Help Setting up your business accounting general ledger
  2. Assist you in getting personnel or business financing
  3. Analyzing your business operating results
  4. Generate budgets and business forecasts
  5. Put together and store your business tax returns
  6. Examine or compiling financial statements as required
  7. Assessing compensation plans for you and any employees
  8. Recommend CPA tax help strategies
  9. Minimizing tax liability and help avoid IRS fines
  10. Representing you before IRS authorities

With the year end round the corner, it is best to plan your taxation for this year end and the new financial year beginning. By calculating the total income for this year and getting an estimate on your remaining taxable income, you can calculate the due tax and investment measures that can help you save tax. Having a CPA or a tax advisor can help you save thousands of dollars that you can invest in your own business for added profits.