A CPA is licensed by the state and has passed the CPA exam. For example, certified public accountants Mesa AZ are licensed by the State of Arizona. These accounting professionals may serve as accounting and tax consultants, business and financial advisors and auditors.
Taxes
If you file an EZ tax form, you probably don’t need a CPA, but if you own property, are self-employed and have dependents, you may benefit significantly by hiring a CPA. Tax laws are constantly changing, which makes it difficult, if not impossible, for you to remain current. However, it is your accountant’s job to stay up to date on tax law changes. In addition, your CPA will know all the deductions and tricks the laws allow, so you will pay the least amount of taxes required by law. In addition, those who make more than $200,000 per year are more likely to be audited.
Debt Reduction
If you have debt that you are trying to pay off, you may want to consult a CPA. These professionals are adept at working with creditors. In addition, your accountant will be the contact person for any debt collectors, so you will stop getting these annoying calls. They can also advise you on loan options.
Investments
Not only should you hire a CPA if you have investments, but you should consider hiring a CPA if you seek new investments. For example, a great accountant can help you plan for retirement or financial freedom. In addition, these professionals are able to evaluate investments to determine their risks and rewards. For example, they may evaluate real estate investments or new business ventures.
Income
Those who are self-employed or own their own businesses should hire professionals. In addition, individuals who receive multiple sources of income should consult an accountant. In both cases, your taxes and other expenses may be significantly impacted by advice from a CPA.
If you have complicated income, debt or taxes, consider hiring a licensed CPA to keep your finances in order.
