Now that tax season is behind us, many people question whether they’ll need the assistance of an accountant soon. Along with tax return preparation, accountants perform a number of other essential tasks, including financial and retirement planning. Here is a brief guide to the other areas these professionals can assist you with. 

Achieve Financial Goals

Whether you are planning to travel during retirement, trying to save up money for your children’s college education, or hoping to open a business, you can discuss all these topics with an accountant. They will devise a strategy based on your current financial status to help achieve all your goals. 

Make the Most of Your Deductions

You should be thinking about tax deductions all year long. This is especially true for people who are self-employed, who can make use of home office deductions or expenses related to travel when filing their taxes. Even if you already know which deductions work for your situation, an accountant can provide more information on other ones that you could have as well. 

Capitalize on Retirement Funding

An individual retirement account (IRA) is a tool you can use to plan for the future. You have the choice between a Traditional IRA and a Roth IRA, each of which offers specific benefits depending on your situation. For instance, Roth IRAs are not restricted by age, as compared to Traditional IRAs, which can only be funded if you’re under 70 ½ years old. However, with a Roth IRA there is an income restriction that states your adjusted gross income must be less than $135,000 per year. An accountant can explain these and other differences to determine which works for you. 

When it comes to accounting services in Checotah, OK, Joe Heard, CPA has established a reputation for personalized assistance that helps his clients take control of their finances. He also provides essential tax information throughout the year. Call (918) 473-1492 to schedule a consultation with this skilled accountant. Learn more tax tips by visiting his website.