Tax season is here people! And January is the perfect time to get serious about your tax prep approach for 2022. Are you happy with how last year went? Or are you looking for ways to improve the experience?

The plethora of pandemic-related payments, tax credits, and loans have made the muddy waters of taxes even muckier. One way to reduce the stress and simplify the process is to hire a CPA to prepare your taxes this year. While tax prep is their bread and butter, there are many benefits to working with a CPA. What does a CPA do?

What is a Certified Public Accountant?

CPA stands for Certified Public Accountant. Think of them as accountants with superpowers. Much of what a CPA does is the same as a regular accountant. That includes bookkeeping and managing transactions. On top of that, they have in-depth training on more complicated financial matters. What is headache-inducing to us is what gets a CPA really revved up.

IRS Representation

While monsters under the bed are a child’s biggest nightmare, IRS audits are an adult’s. A CPA is the hero who comes to save the day. A CPA can represent you in the case of an audit or another issue with the IRS. Most importantly, their expert advice on a day-to-day basis will help prevent questions from the authorities in the first place. You will sleep easier when you have a CPA on hand to keep the IRS happy.

Management

CPAs provide management and consulting for all things financial. Budgeting, insurance, investments, estate planning, and financial statements can be handled by your CPA. These are all important matters to stay on top of, especially as your business grows.

Auditing

An audit by your CPA is different from an audit by the IRS. This is an in-depth exam of your current financial records and data. A CPA can find any goof-ups or weak spots that the IRS might be concerned about. It’s a great way to check on your business’s health and find areas to improve on.

Assurance Services

It’s also a CPA’s job to explain financial data to you in a way you understand. This is what assurance services are. A CPA’s translation of numbers into simple terms will help you to take the reins of your business and make smart decisions.

Investigative Accounting

If you have suspicions of embezzlement or are mysteriously losing funds, your CPA can conduct an investigation. Also known as forensic accounting, a CPA will comb through your finances to find any evidence of criminal conduct. This is definitely an area you do not want to mess around. A CPA is held to a high standard of ethics, so you can trust they are qualified to assist.

These are just some of the things a CPA does. If you decide to work with a CPA for your taxes this year, be sure to take advantage of all their superpowers. You will find a partner who can elevate every area of your business’s financial health.

Lin Company networks with the best local CPAs to make sure all your business’s needs are met. Don’t hesitate to get in touch this tax season. We’re here to answer all your questions.