What Can a CPA Offer to Business Owners?

CPA dealing with financial issues

Every business, big or small, needs help with their financial planning and tax preparation. And who better to do that than a Certified Public Accountant (CPA) in Utah?

What are CPAs and what do they do?

The title CPA is a professional designation an individual receives upon completion of the minimum educational requirements and passing the licensure exam. CPAs are the leading experts when it comes to financial matters; they provide auditing services, prepare tax, and aid in financial planning. Many individuals and organizations seek their advice regarding the development of accounting systems. Many CPAs work for big corporations, but some work in firms or are self-employed.

What are the differences between a CPA and a non-CPA?

CPAs hold one of the most recognized, trusted, and respected designations in the world of businessmen. Their tasks go above and beyond other accountants who do not have the designation. They are financial strategists who help businesses or individuals plan their financial future. They audit and review financial statements and report them to the Securities and Exchange Commission (SEC). They can also represent their clients in case the Internal Revenue Service (IRS) audits them. Without certification, an accountant cannot perform these tasks.

What are the benefits of hiring a CPA?

A CPA becomes qualified to perform their job through compliance with both educational and licensure requirements. Through the process of accomplishing the requirements, they become highly familiar with tax laws, as well as the financial language. They can also analyze financial matters that bookkeepers and accountants are not qualified to go through. Furthermore, going through an audit by the IRS may be daunting, but a CPA can help you through the process.

Hiring a CPA or CPA firm may be more expensive than hiring bookkeepers and accountants, but the additional cost is only due to their qualifications that allow them to offer more services. Remember, a CPA can do the work of an accountant, but an accountant cannot do all the things a CPA is qualified to do.