Certified Public Accountant vs Bookkeeper for Tax Return

Why do I need a Certified Public Accountant Or Bookkeeper for My Tax Return?

There are many things that a Certified Public Accountant (CPA) or a Bookkeeper can do for your business. One of these things is to prepare your tax returns for you. Business tax returns, even those done for small businesses, are still more complicated than a standard individual return. Trying to untangle which forms you need to fill out and what information you need isn’t always easy. That’s why many business owners turn to CPAs or bookkeepers.

What Can these Experts Do for You?

By working with one of these professionals, you’ll benefit in a number of different ways.

  • You won’t have to worry about misfiling your business taxes. Doing so, even if the errors made were honest mistakes, can lead to heavy fines from the IRS or your state tax department. Having an expert do the filing means you won’t have to be concerned that something wasn’t done correctly.
  • They may be able to claim deductions you didn’t realize were available, saving you money.
  • They can assist you in complying with an IRS audit.
  • If you haven’t used a CPA or bookkeeper to file previous years’ taxes, it may be worth having one of these experts look over those returns. They may spot places where you can get refunds and file an amended return to claim that money. This isn’t always the case, but it never hurts to have someone double-check the returns.
  • They can advise you on purchases and expenses in the coming year or on new tax laws and breaks that you could take advantage of.

Remember that a CPA and a bookkeeper are not the same. A bookkeeper is more of a general professional who offers a variety of financial services. They do understand tax returns, but they may not be experts in tax law. If you have any specific questions or have a complicated return, you may want to seek the help of a CPA instead. Give us a call today at (941) 926-4687 to schedule your FREE initial consultation.