Why are some Accountants also CPAs and what does that mean?

By Andrea MacDonald, CPA

If you’re a business owner, you’ve likely spent some time with an accountant. After all, you can’t always manage your books on your own! But if you want to legally and financially protect your business, you might also want to hire a Certified Public Accountant (CPA). All CPAs are accountants, but not all accountants are CPAs.

There are some key differences between the two. For example, CPAs must pass a comprehensive exam and complete up to 150 hours of coursework. They need to have a certain amount of work experience to get their licenses. They must also undergo at least 40 hours of professional education every year. Finally, CPAs have to pass an ethics exam every year and follow a strict code of ethics to keep their licenses.

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Am I putting my company financially at risk if I don’t work with a CPA?

The answer is yes. You have no way of knowing if your accountant is up-to-date on the current tax laws and how they apply to your business. As part of their license, CPAs are responsible for staying up-to-date on tax laws. As a result, they are some of the most trusted advisers in business. During tax season, a CPA can help you reduce your tax liability and maximize your tax benefits. This will prevent you from paying too much in taxes. On the flip side, you won’t have to worry about underpaying thanks to a CPA’s knowledge of tax laws.

CPAs have a lot of training, so they can help business owners make key financial decisions. If you want to make smart investments and reduce your business debt, a CPA can help you out. Are you familiar with tax laws and accounting tools? If not, handling your books on your own can be a risky move. That’s why we recommend working with a CPA. You’ll be less prone to legal and financial threats, and you’ll save a great deal of time and money.

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What are the benefits of working with a CPA?

Working with a CPA can help you run your business without breaking the bank. A CPA can help you get the latest tax benefits and reduce your tax liability. Do you want to make smart investments and improve your credit rating? A CPA can provide business and tax advice to help you out. CPAs have state licenses to provide higher-level business counsel. This, in turn, makes them invaluable advisers.

Like most accountants, CPAs can help you prepare your taxes, but they also go beyond that.

For example, CPAs can help you determine your business tax credits and deductions. They can also review your financial statements. CPAs can be useful in other situations, too. If you’re a contractor who needs a Surety Bond, for instance, a CPA can sign off on your books.

But the biggest benefit of hiring a CPA is the amount of time and money you’ll save. Running a business is difficult enough without worrying about managing your taxes. Here at Pro Tax & Accounting, we want local businesses to thrive. That’s why we offer CPA services! We’ll help you out with everything from tax preparation to essential decision-making. That leaves you free to dedicate more time and energy to actually running your business.

Operating a successful business requires great attention to detail.

Business owners are responsible for tracking expenses, paying off debt and more. In other words, you have a lot on your plate! Plus, most people are not familiar with the subtleties of tax laws. As a result, it can be hard to minimize your tax bills and protect yourself from IRS audits. That’s why CPAs are so helpful. They have gone through training to be the world’s most trusted business advisers. In fact, they work with businesses big and small to ensure financial and legal security. If you’re interested in hiring a CPA to work with your business, call Pro Tax & Accounting today!

Here at Pro Tax & Accounting, our CPA is Andrea MacDonald. She offers unparalleled services as an accountant and fellow business owner. Andrea is a licensed CPA in the state of Virginia, and is overseen by the Virginia Board of Accounting.

If reading this has created more questions → Email Us!

Andrea MacDonald, CPA is the owner of Pro Tax & Accounting in Chesapeake, Virginia. For nearly two decades, she has been working with businesses on their bookkeeping, accounting, and taxes. She also works with individuals and families on their tax returns. Andrea is a Certified Public Accountant (CPA) and a qualified bookkeeper and tax professional. She is well-versed in tax law, which makes her an invaluable resource for any business.

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At Pro Tax & Accounting, we keep you from breaking the bank!

Pro Tax & Accounting is your go-to resource for businesses bookkeeping, accounting services, payroll, QuickBooks Consulting, and tax services. President and owner, Andrea MacDonald, CPA, is a Certified Public Accountant. Andrea and her team have the education, knowledge, and experience and work with businesses throughout the Hampton Roads Virginia cities of Chesapeake, Norfolk, Virginia Beach, Suffolk, Newport News, and Hampton, north into Williamsburg, and throughout the mid-Atlantic region. And thanks to technology, Pro Tax & Accounting can work with clients anywhere in the world!

Call today and free up the time you need to run your business, and leave the bookkeeping and accounting up to the experts!

>> Email Us to Book an Initial Consultation for all your Bookkeeping & Accounting needs.

Resource: Virginia Board of Accountancy