Why do I need to hire a CPA? This is a question we hear often, and in this blog we will provide you with 8 reasons why you should hire a certified public accountant.

CPAs act as advisers to individuals, businesses, financial institutions, nonprofit organizations, and government agencies on a wide range of financial matters.

  1. Expert Advice. A CPA can advise you on how to minimize tax liability. For example, you might be eligible to contribute more to your retirement accounts, claim child care or educational expenses, or claim deductions for adoption, educator expenses and more.
  1. Changing Tax Laws: For most people, keeping track of the changing tax laws can be difficult at best. If you are not paying attention constantly, you could miss an important regulatory change. CPAs stay current on regulatory changes and can help you get the latest tax benefits.
  1. Financial Analysis: A CPA does a lot more than just reviewing your financial statements and preparing your taxes. Their services often include a thorough analysis of your business’s financial situation, and they provide advice on tax planning, saving opportunities and financial advice. A CPA can help you make high-level business and tax decisions.
  1. Audit Support: Probably the biggest reason to use a CPA for your business is a CPA is eligible to represent you before the IRS, whereas an accountant is not. A CPA has full authority to represent you in an audit and to execute claims on your behalf.
  1. Reducing Debt: Getting out of debt can be extremely challenging. But a CPA knows how to manage debt, negotiate with creditors, and prevent you from being bullied.
  1. Consistency and Stability: A CPA will be there for you year after year. Practicing CPAs are in it for the long run.
  1. Strategic Planning: A quality CPA helps you with strategic planning throughout the year instead of simply preparing and filing your tax return (like accountants). A CPA should be keeping current on upcoming tax legislation, advising you on when you are bumping up against phase-out limits on deductions, and monitoring your investments to take gains and harvest your losses as appropriate.
  1. Peace of Mind: With all the stress that running a business brings, you deserve to have someone certified to protect you from filling mistakes and to represent you in the event of an IRS audit. Peace of mind alone is worth the investment.