Why You Should Hire A CPA

When running a small business, sometimes it can be hard to determine what route to take with your finances; do you take it on alone, purchase accounting software, or hire a CPA? Whether you want a professional handling the finer details or decide to tackle it as an internal project, hiring one of our Rochester CPA’s can help take your local business to the next level. Here are some insights into the credentials of any CPA.

Accountant VS. CPA

So, what’s the difference between an Accountant and a CPA anyways? According to AccountingEdu.org, accounting is a blanket term for anyone who records and reports the business’s financial transactions. Therefore, anyone who does this can call themselves an accountant, with or without a degree. By comparison, a Certified Public Accountant (CPA) has to go through rigorous state licensing programs including the CPA exam. CPA’s also have to dedicate 40 hours every year to profession education ensuring they are up to date with current laws and best practices.

Audits

One of the best reasons to choose a CPA over an accountant is that CPAs are legally allowed to represent you in the event of an IRS audit whereas most accountants are not.  When served with an audit from the IRS it can be extremely stressful and overwhelming. Our CPAs in Rochester, NY are a great choice for local businesses due to their expertise in local state and federal tax laws. An out of state or online CPA might be less familiar with local laws and steer your business wrong. Our local CPA’s can ensure you get the correct and right amount of information to keep the process rolling, minimizing any potential risks. They will walk you through the process, making high-level decisions and changes that your business needs.

Advice

Simply put, CPAs are experts at what they do. They have the knowledge, experience, and certifications necessary to prove they will be beneficial as assets to help you with big financial decisions. They can perform financial check-ups to determine status, budgetary recommendations, and future outlook. CPAs are great for long-term and big-picture finances. Ultimately, they will provide an outsider’s perspective, evaluate your finances and assess risk.

Time

If you are a business owner, a CPA can truly help free up your time. You can go back to worrying about day-to-day operations while you know someone is looking into the future with your finances.  CPA’s can cover your bookkeeping and tax needs, an all in one package that can make for easier communication, easier management, and more time on your hands for other needs of your business.

At Davie Kaplan CPA’s we have answers to all of your Certified Public Accountant questions. Contact us today or visit our services page to learn more information!