FAQ - Accounting & Taxes
A CPA is one of the most recognizable types of accountants in the field. CPAs are responsible for a variety of tasks in the accounting field. What sets CPAs apart is they have passed series of rigorous tests to earn their CPA certification. To become a CPA, accountants must complete 150 semester hours of college level course work, as well as a 4-part test that is offered by each states’ Board of Accountancy.
CPAs are responsible for a variety of tasks in the accounting field including overseeing public and private financial records, assisting in tax preparation and filing, preparing financial reports, and helping individuals and businesses make sure their financial statements comply with state and federal laws.
We provide a variety of services including:
- Personal Tax Preparation
- Business Tax Preparation
- Business Formation
- Business Acquisitions
- Business Sales
- Business Mergers
- Business Systems Designs and Implementation
- Liquidations and Dissolutions
- Electronic Accounting Systems
- QuickBooks Consulting
- Technology Consulting
- Management Consulting
- Representation in IRS/NYS audits
- Internal Control Review
- Wealth Transfer/ Estate Management/ Succession Planning
- Business and Individual Budgeting
- Bookkeeping Services
Working with an accountant ensures your taxes are done properly and in accordance with current tax law. While tax preparation software does make doing your personal taxes easier, if you are business owner, or have experienced major life changes (marriage, divorce, buying a house, and so on) over the course of the past year, working with an accountant will ensure every facet of your financial situation is explored.
Whether or not you should hire an accountant to do your taxes depends on the complexity of your financial situation. If you are a business owner or self-employed, you’re more likely to be audited by the IRS. Working with a CPA will lower that risk. Additionally, if you have gone major life changes (mentioned above), hiring an accountant makes sure all factors are taken into consideration.
Another thing to take into consideration: Doing company taxes is time-consuming and can be incredibly confusing if you are not fluent in current tax code. Working with an accountant will save you time, which you can instead devote to living your life and running your business.
Your should bring a copy of your tax return for the past three years, as well as an open mind. Be prepared to discuss your plans, goals, and questions about your financial future. Our goal is to help you plan and maintain a financial future for you and/or your business, so gathering all relevant materials and being as candid as possible will only benefit you in the long- and short-term.