3 Reasons Having a CPA for Your Small Business Is a Must
Certified public accountants, or CPAs, have more knowledge and skills than their uncertified counterparts. As such, working with one is highly beneficial to small businesses. Here are just a few ways a CPA will support you while you run a company.
3 Ways a CPA Will Support Your Small Business
1. Help With an IRS Audit
In the event your business is audited, a certified public accountant is indispensable. Only CPAs are eligible to provide representation during an audit. This is crucial to ensure the matter is rectified correctly. Your professional will submit the correct documentation, represent you to the IRS, and clearly explain your paper trail to the agency. They’ll also ensure you understand what’s going on.
2. Analyze Finances
Along with common accounting tasks, CPAs can also help your business with financial analysis. This includes understanding how and where money is being spent, which is integral for identifying any problem areas. If you’re not earning enough in profits, for instance, a CPA can provide you with actionable steps to take to get on the right track.
3. Provide Comprehensive Tax Knowledge
CPAs are required to be licensed in whatever state they practice in. Accordingly, they must undergo continued training and education to ensure they remain up to date on all applicable tax codes. That means they will offer accurate information on laws that affect you. This is particularly vital since tax laws are notorious for changing. If you lack the proper knowledge, your business could be noncompliant, and you might not even realize it. Fortunately, with a certified public accountant helping you, this won’t be an issue.
In Lewisburg, PA, Donna J. Troutman CPA PC provides indispensable accounting services to local clients. Her firm can tackle even the most complex issues, which is why it’s so highly regarded among peers and professionals alike. Learn more about this certified public accounting firm by calling (570) 523-7337. If you’d like more information on the many services they offer, feel free to visit the website today.
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