Working with a CPA Firm does have its Benefits

Author : Camputaro and Assocaites
Sep 06, 2016

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Most individuals and business owners understand that they need a tax representative or CPA at tax time, but for many, a CPA can be highly advantageous to retain throughout the year. Tax representation includes help at tax time as well as advice, direction, and decision making throughout the year to ensure that you are making the best decisions for your needs. CPAs can offer you money saving advice, help, and budgeting so that you can maximize your deductions while staying tax compliant.

Keeping up with Tax Laws

Local Florida and Daytona Beach tax laws change on a regular basis and it can be difficult to keep up with these changing regulations. A CPA will ensure that your taxes are up to date and that you file based on current standards without having to worry about re-filing or paying fines if you miss something. This can be cost and time saving, because you also won't have to worry about brushing up on tax law every year.

Improved Investments

A CPA can help you to make better choices for your investments, so that you pay less at tax time. Most CPAs can also help you with setting up and creating investment accounts, recommending the best options based on your situation, income, and tax bracket, and planning your savings. They can also help you to plan, track, and keep up with income from your investments, can help you to reduce taxes on investments by understanding depreciating assets and potential deductibles, and will help to ensure that you file taxes with investments listed correctly.

Advice

If you aren't intimately familiar with local tax law, you probably need advice to steer you in the right direction when making tax related decisions. For example, should you start your own IRA? Should you make before-tax or Roth contributions to your retirement savings? Should you invest in something? A CPA can help you to make the right decisions to minimize how much tax you pay. For example, if you earn over a certain tax bracket, you can reduce your taxes by donating to charity, can deduct things you weren't aware of, or may be able to save money by reducing your taxes in other ways. Quality planning, and advice, throughout the year, can help you to save as much as is possible.

Tax Compliance

Most tax forms are beyond the expertise of the average person who fills them out. This leads to frequent mistakes which in turn result in re-filing and in fines and fees. Both can be time consuming and expensive. A CPA can help to ensure that you are fully tax compliant by filing paperwork for you on time, keeping the correct records, and representing you in case of an audit.

Time and Money

A good CPA can save you time and money throughout the year by making the right decisions, filing paperwork for you, filling out forms, and handling issues that you might not know how to deal with. Combined with money saving decisions, like choosing the best way to save, finding tax deductions, and creating a tax plan that will help you to reduce costs, and you can save a great deal.

Daytona Beach CPA Firm

A CPA is almost essential for most small businesses, and extremely beneficial for many individuals, especially those with investments, rental property, or a high income. Camputaro & Associates is a peer reviewed CPA firm operating in Daytona Beach. Camputaro and Associates are members of the AICPA and FICPA, and submits to voluntary peer review, for outside opinion, standards regulation, and performance review. If you are interested in a free consultation, contact them today.

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Camputaro and Associates
Certified Public Accounting Firm
136 N. Orchard Street, Suite 8
Ormond Beach, FL 32174
(386) 255-2511