Mark Glendon

3 Things a CPA Can Help With

A certified public accountant (CPA) is a financial professional who can help businesses and individuals with several financial services. If you're thinking about hiring a CPA, below are three things a CPA can help you with:

1. Taxes

CPA services are often used to sort out tax issues and engage in tax planning. A CPA can guide individuals and business owners regarding how to position their finances to take advantage of tax laws and save money.

A CPA can also represent you or your business in the event of a tax audit. This can be very advantageous given that IRS audits are often very time-consuming and thorough. Having a CPA on your side can also ensure that you don't make any missteps that may end up costing you.

2. Budgeting

Individuals and businesses that deal with large amounts of cash flow and capital often turn to CPAs for budgeting advice. A CPA can help you find the best strategies to maximize your income and cash flow while reducing the potential for budgeting errors.

Your CPA can also be a resource if you need to check in on your budget when dealing with large purchases. This is particularly beneficial if you have a high net worth and are not able to keep up with every single dollar that comes and goes from your accounts.

3. Forensic Accounting

Forensic accounting is the process of reviewing financial transactions and accounts to determine what has taken place in the past. This is sometimes done to resolve legal matters, but individuals and business owners may request forensic accounting and audits if a financial situation has become complex and convoluted.

Hire Locally

As a side note, before hiring a CPA, consider searching locally. Local CPAs will have a better understanding of local and state laws as they pertain to things like taxes. If, for instance, you are in The Bronx, consider looking for a Bronx CPA for help with NYC accounting. A Bronx CPA can offer guidance for issues related directly to accounting matters in the five boroughs and The Bronx specifically.

Author Resource:-

Mark writes often about tax and estate planning. His articles may include topics like tax planning, estate planning, business accounting or any other tax service to help the people in needs. You can find his thoughts at business accounting blog.