Many business owners rely on professional accounting services to help them manage their finances, but some wonder what a certified public accountant (CPA) brings to the table. To obtain the title of CPA, one must fulfill the credit hours and degree requirements set forth by their state as well as pass the certification exam and take continuing education courses. Here’s how an experienced accounting professional can make a difference to your company.

Has a Comprehensive Knowledge of Tax Laws

You might feel comfortable filing your income taxes, but business returns are more complex than personal ones, even for small companies. CPAs undergo extensive training to achieve their status and maintain their certification by participating in continuing education programs. These seminars give them a comprehensive understanding of the most current federal, state, and local tax laws, which can help your business avoid substantial penalties and take advantage of credits.

Provides Audit Assistance

A CPA is qualified to represent your company if you are chosen for an audit by the Internal Revenue Service (IRS). This situation can be overwhelming, but the CPA will ensure all the relevant documents are properly prepared and in order before the auditors arrive. They'll also handle the meeting and answer all questions that arise.

Offers In-Depth Financial Analysis

Investing in professional accounting services can help your business find financial stability. Unlike bookkeepers or general accountants, CPAs have a broad understanding of how each expense category affects your bottom line. This allows them to spot potential issues before they become serious problems, saving the company money in the long term. They can also suggest ways to limit tax liabilities without sacrificing profits.

From bookkeeping and payroll services to tax preparation and consulting, Dianne M. Saunders, CPA, has the experience and skills needed to handle all your business' needs. Based in Litchfield, CT, this CPA firm offers a level of personalized accounting services that only a locally owned company can provide. Find out more about how the team can help your business by visiting them online or calling (860) 567-3022.