What Types of Services are provided by Certified Public Accountants?

Posted by Lucas Bell on May 8th, 2018

CPA, which stands for Certified Public Accountant, is a designation reserved for accountants. CPAs have expertise in their field. To become a CPA, one needs to pass the exam and meets other state requirements.  A professional CPA can help small or large businesses handle their accounts. He or she can check financial statements to ensure if there is no discrepancy.

Many CPAs can help individuals or businesses sort out tax problems, manage bookkeeping or handle federal and state taxes for small or mid-sized companies. They also perform the role of financial planners, financial analysts, forensic accountants, management consulting, and estate planning and corporate finance.

Here are some of the prominent roles played by Manhattan CPA. 

Tax Planning

Professional and experienced CPAs can help you set out optimum strategies. They can take the proactive approach to cater to your unique, personal, and business tax goals.  With their help, you can implement successful strategic tax planning. By this way, you will be able to save your business more in taxes than the overall fees you pay to them for handling your books, advising and preparing your tax returns.

Tax Preparation

Other than the tax planning, CPAs can also help you understand your tax burden. Since they have expertise, they are familiar with the federal and state tax laws and can provide you with a complete range of tax solution.  Since tax preparation is a year-round activity, and it must be handled expertly, experienced CPAs approach the tax aspects of financial managements other than just meeting statutory requirements.

They can give you proper advice about the best techniques so that you can reap maximum benefits by reducing deferring income taxes as well as maintaining regulatory compliance to prevent costly penalties.

Payroll/Bookkeeping

Bookkeeping and payroll is one of the other complex tasks of any business. When you find professional CPA in Manhattan, he or she can manage your bookkeeping /payroll. There are some accounting firms that provide offsite and remote access bookkeeping, accounting, financial management, and advisory services to their clients. When looking for a CPA, make sure he or she can provide you with complete range of bookkeeping solution such as preparing general ledger & financial statement, adjusting journal entries, setting up accounting system for new business, keeping your bookkeeping ready on an Monthly, Quarterly or Annual basis.

To conclude, these are the services provided by a good CPA.