What is a CPA, (Certified Public Accountant)? What do CPAs do?
CPA, Certified Public Accountant, is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. CPAs function as independent auditors and act as advisors to individuals, businesses, financial institutions, nonprofit organizations, and government agencies on a wide range of finance and tax-related matters.
To qualify for certification and a state license, an individual generally must:
Have a college degree or its equivalent
Pass the rigorous Uniform CPA Examination
Meet certain experience or postgraduate study requirements
Meet annual continuing education requirements
Adhere to certain ethical standards and codes of professional conduct established by governmental bodies and peer organizations
A CPA is trained to apply sound judgment in business situations, helping people and organizations evaluate the use of economic resources. Today’s CPA provides a wide range of services such as:
Auditor
Educator
Management Consultant
Personal Financial Representative
Tax Advisor
How do I know if I can do my own taxes or if I need to consult a certified public accountant?
Tax law is constantly changing, so it is important that you are educated about these changes so you correctly fill out your forms. If you feel uncomfortable with your knowledge of current tax law you should consult a CPA to assist with your tax filing. Additionally, with tax law changing so frequently one needs to be aware of these changes to make sure not to miss any pertinent information that should be submitted to the IRS. If you are concerned about filing your own taxes give us a call and we can answer any questions you may have about self-filing or using a professional.
Should I consult a CPA if I am starting a new business?
It is advisable that you contact a CPA. You will need to discuss the organization of your company for tax purposes as well as numerous other issues relating to operations, not the least of which will be setting your target pricing and gross profit margins. Don’t wait until the year-end to have this discussion. You could be making decisions without the proper advice, and that could wind up hurting you financially or legally.
Do I really need to pay a CPA to prepare my financial statements?
Ask yourself, “How valuable is my time?” Imagine what you could be doing to build your business with that time. Could you earn more than what a CPA would cost? The answer to these questions will change as your business grows.
What is the benefit of working with Clark & Anderson?
Our team acts as advisers to individuals, businesses, financial institutions, not-for-profit organizations, and government agencies on a wide range of financial matters. Many individuals turn to CPAs for help not just with their tax preparation, but also with their business and personal financial planning.
Most CPAs meet substantially the same education, training, and licensing requirements. Nonetheless, they provide a broad and varied range of services. We specialize in small business, tax or financial planning, audit/assurance services and more. The reason you should use any firm is that they have established trust, have experience in the industry and are properly educated and trained.
Are my personal and business documents kept confidential?
We maintain a policy of the strictest confidence concerning our clients’ affairs. Rest assured, no one will learn about your business or tax status—even relatives, associates, or friends who might have referred you to us.
Is Clark & Anderson available to me throughout the year?
We are here for you twelve months a year, not just during tax season. Whether you have a simple tax question, need advice on the tax implications of a business decision, or want clarification on a government notice, feel free to call or email us.
