Finances are part of daily life. From managing personal and business accounts to preparing for tax season, trying to stay on top of it all can feel like a full-time job. Fortunately, this is where the invaluable services of certified public accountants (CPAs) make financing more convenient. If you don't have an accountant, here are five reasons you won't regret hiring one.
5 Key Reasons to Hire a CPA
1. Reach Your Savings Goals
An accountant will review your current financial situation and highlight areas for improvement. They'll also help you develop a plan to reach both your short- and long-term goals and can offer suggestions on where to keep your savings.
2. Save Time & Frustrations
If you're not in the financial industry, chances are you don't enjoy spending hours in front of a spreadsheet or filling out tax forms. These processes are challenging for the average person, but they're particularly overwhelming for individuals who are self-employed or own a business. Fortunately, a CPA has the tools, skills, and experience to complete these tasks quickly and efficiently, so you can focus on what matters more to you.
3. Avoid Costly Financial Mistakes
Making a mistake on your taxes is easy to do but hard to take back. For instance, if you're self-employed, you're required to pay quarterly taxes. Any mistakes during the year could mean you’ll owe a hefty tax bill at the end of the year. This situation is not only stressful, but it can also put your financial future at risk. Luckily, your accountant can ensure accuracy throughout the year and distribute payments according to your preferences.
4. Stay on Top of Changing Tax Laws
Tax laws are constantly changing. It’s important to stay up-to-date on these regulations when preparing your taxes, and this information can also affect your financial decisions throughout the year. An accountant is well-versed in tax laws, and they’ll help you take full advantage of deductions through tax planning.
5. Take On New Ventures With Ease
Everyone dreams of being their own boss. However, launching a company requires careful financial planning. Work with an accountant to handle time-consuming in-office situations, like payroll and bookkeeping, as well as tax preparation.
Whether you're running a company or need help with personal finances, turn to the team at Fisher & Hodges CPAs AC for professional assistance. For 30 years, the family-owned firm has proudly served the accounting, bookkeeping, and tax preparation needs of residents and businesses throughout Mercer County. Browse their full range of services online, or request a consultation with a CPA by calling (304) 425-2470 today.