A certified public accountant (CPA) works with individuals and businesses to provide solutions that protect clients' financial interests and help them achieve their fiscal goals. Whether you're a small household or a large company, here are a few advantages of working with a CPA.

Benefits of Hiring a CPA

1. Get Professional Advice

A certified public accountant is a licensed professional. This means that they've successfully completed rigorous training and passed challenging exams that verify their credentials and prove their skills in financial matters. When you hire a CPA, you are getting honest, objective advice from an industry expert. Also, CPAs have full representation rights with the Internal Revenue Service (IRS), making them uniquely suited to handle all tax needs and represent you in all dealings with the institution.

2. Plan Your Business

If you're considering opening a business, a CPA is an important ally to have on hand. They ensure you find the proper business designation—like an LLC, partnership, or corporation—to protect your investments and minimize taxation. They keep financial records and help plan the long-term goals of the business. They also prepare taxes and, in some cases, manage payroll services. CPAs think strategically, which is crucial to identifying business needs and preparing for the future.

3. Have Critical Help at Tax Time

A CPA handles all the responsibilities associated with taxes, whether you are an individual filer or a business owner. They prepare and file returns and pinpoint ways to reduce your tax liability. They also ensure you take all allowable deductions and that your tax situation complies with all current laws and regulations. In the event of an audit, a CPA communicates with the IRS on your behalf, represents you at hearings, and prepares and submits all required documentation.

When you need a certified public accountant in the Tri-State area, trust Hannegan & Associates. Located in Edgewood, KY, they offer accounting, bookkeeping, payroll, and tax preparation services for individual and business clients. They also provide estate tax planning guidance to assist you in shaping your legacy. Call (859) 291-0101 to schedule a consultation, or visit them online to explore their services.