Your Small Business and CPA Services
It is indeed a matter that goes without saying that each and every business will require the services of a tax advisor and a financial advisor at the same time. And when talking of a financial and or tax advisor, the best to avail for your business is a CPA and not just an ordinary accountant. So who are CPAs anyway and what sets them apart from accountants?
You need to note the fact that accountants are essentially those professionals in finance and tax matters who have been generally trained on the accountancy and tax principles as have been set forth and out by the Financial Accounting Standards Board. Talking of CPAs, these are however an accountant who has gone for further training, professionally, and as such has been thoroughly trained and drilled on the accounting and tax principles that happen to be so applicable particularly to the concerned state. Thus it may be well saying that all CPAs are accountants but not all accountants are CPAs.
Most business entities will in most cases have in their employ the services of the accountants and as a matter of fact these happen to be just as competent but only to some extent. However looking at the specifics in training and licensure that is there for the CPAs, there is a lot of sense why it would be so advisable for you to avail them for your business set up. The following are some of the benefits and reasons why it gets to be so advisable for you to have availed the services of the CPAs for your business.
First and foremost, there is the benefit of the use of the CPAs looking at the fact that they have such a superior knowledge of the tax laws as compared to that possessed by the accountants. They are the ideal team to trust for the tax preparations for your business looking at the fact that they are more specifically trained in a state’s applicable and relevant tax laws and as such have such a better know of these as opposed to the un-enrolled preparers, the ordinary accountants. Taxation is actually one of the units that the CPAs must take and pass for them to be finally licensed and certified as tax accountants. An accountant with no CPA qualification will not be able to represent you before the IRS even if they were the ones who signed your tax returns.