Whether you’re moving to a new home, beginning a new career, or launching a business, many life changes can present financial challenges. Fortunately, working with an accountant can help you navigate these transitions without putting yourself at risk for monetary hardship. A qualified CPA can keep your books and receipts in order, so you’re prepared for the next steps.

3 Reasons to Hire an Accountant During Life Changes

1. Helps You Stay on Top of Your Finances

Hiring an accountant is an effective way of organizing your financial documents. If you’re opening a new business, incomplete or inaccurate records could result in a financial loss—but a CPA can ensure that all your records up to date. While individuals aren't legally required to maintain books, tracking income and expenses helps you understand your cash flow. Whether for personal or business use, these bookkeeping services encourage you to make the smartest spending and investment choices.  

2. Minimizes Tax Preparation Stress

Working with an accountant can also help you avoid tax preparation stress. Utilizing their services throughout the year ensures your financial information will be organized, accurate, and easy to transfer to the necessary tax return paperwork. The professional will also be able to identify any applicable deductions or credits, which can substantially decrease your tax liability.

3. Ensures You’re Prepared for an Audit

Your accountant is also extremely helpful if your personal or business returns are flagged for an audit by the Internal Revenue Service (IRS). Since they are familiar with your financial documents, they can represent you during meetings with the agency and answer the auditor’s questions. This ensures the screening will go smoothly and quickly, allowing you to get back to your regular activities.

If you're just starting out on your own, then turn to Clark W. Terrell CPA for professional financial assistance. Based in Crossett, this accounting firm provides clients throughout southeast Arkansas with a range of bookkeeping and tax preparation services. The team is known for their exceptional work, hands-on approach, and fixed pricing arrangements. Learn more about their services online, or speak with a qualified accountant today by calling (870) 364-5006.