When you need business tax services, you may wonder if it’s best to stick with a CPA firm or if it’s okay to go with the first tax firm that has availability. While the average tax firm may be able to handle basic tax issues, a CPA firm is capable of providing expert guidance for more complex financial issues. Here are a few ways that a CPA firm is different from the everyday business tax service.
- A CPA Has Additional Education & Qualifications
A CPA must meet certain education requirements in order to satisfy the licensure requirements for the CPA designation. Not only will a CPA typically have more education than the average accountant, but they’re required to take a certain number of credit hours in upper-level courses. This ensures that they have the expertise to handle more intricate tax situations and provide superior business tax services.
Members of a CPA firm are also required to take continuing education classes. These courses provide them with the knowledge they need to stay informed on the latest changes and interpretations to the tax code.
- CPA Firms May Offer Additional Business Tax Services
Though a CPA firm and an ordinary tax firm offer some of the same services, CPA firms are able to provide a wider variety of financial and tax offerings. This is due to the additional education and licensing requirements for certified public accountants. A CPA firm can perform mandatory audits for publicly traded businesses. Audited financial statements are often necessary for companies who are trying to attract additional investors.
CPAs also have a broader knowledge of the tax code than a typical accountant. They can provide a valuable business tax service that other tax firms can’t: representation to the IRS. This means that if your tax return is audited, your CPA can assist you and represent you during the audit. Many business owners find it comforting to have someone who they’re familiar with assist them during incidents such as this.
- A CPA Firm Is Required to Act in the Best Interest of Its Clients
When providing business tax services, a CPA is legally obligated to provide a fiduciary duty and act in their client’s best interest. It’s mandatory for a CPA firm that provides business tax services to follow a strict ethical code and adhere to high moral standards.
Get the Assistance Your Need with Gurian CPA Firm’s Business Tax Service
Gurian CPA Firm’s licensed accountants specialize in high-net-worth tax situations. Contact us today at 469-374-3150 for more information on the business tax service we offer.
