If you own a business, work for yourself, or have a lot of investments, you know how complicated finances can get. When tax season comes around or you’re looking for ways to track the financial health of your business, a skilled CPA can save you a lot of time, money, and headaches in the long run. Below is a quick explanation of what CPAs do, and how they can help keep your finances in order.
What Do CPAs Do?
Tax Strategy & Return Preparation
As part of maintaining their license, CPAs must take continuing education courses, which means their tax knowledge base is always up-to-date. With their help, preparing even the most complex returns can be a breeze. They’ll also help you plan a year-long tax strategy to maximize your deductions and reduce your liability as much as possible, potentially saving you thousands of dollars.
Streamlining Financial Systems
Many CPAs offer consulting services designed to lighten the load on a small business’s staff. They’ll conduct a thorough assessment of your current system and recommend steps you can take to make your financial record-keeping as easy and error-free as possible.
Performing Financial Audits
Regulatory agencies, business partners, and lenders often require statements detailing the financial health of your company. In addition to generating reports, a CPA can review the information in your books and ensure that everything is correct.
Representing Clients With the IRS
Being the target of an IRS audit can be terrifying, even if they’re just asking for more information. Licensed CPAs can represent your interests in front of the IRS, explain what the government is looking for, and walk you through the process.
Whether you have complicated income streams or own your own business, the CPAs at Tostrud & Temp, S.C. will provide the financial safety net you need. They’ve served businesses, individuals, and government organizations throughout La Crosse, WI, for over 35 years, building a reputation for fast service and accurate results. Visit their website learn more about their wide range of services, call (608) 784-8060 to make your appointment, and follow their Facebook for more tips and advice.