The rich and the famous are not the only ones who need the services of a Certified Public Accountant (CPA). Even individual taxpayers would benefit from requesting the assistance of an accountant on a wide range of financial matters including: tax preparation, financial planning and estate plan creation. Businesses and non-profit organizations also require the services of a CPA for auditing and accounting purposes as well as for a wide variety of consulting services.
So how do you know when you need to hire the services of a credible CPA? You will know you need it when you find yourself in these situations:
You Own a Business
If you own a business, are self-employed or have multiple sources of income, hiring an accountant can help you save huge amounts of time and money. With your accountant’s help you can find ways to lower your taxes while getting all the help you need to organize your finances. Having an accountant also ensures that you will get professional help if ever you encounter any problems in the future.
You Own Rental Properties, Real Estate or Investments
With the help of an accountant you would not miss any major tax benefits associated with having a rental property or when buying and selling a home (or other real estate). In the same manner your accountant can help you make the right decisions if you have taxable investment accounts.
You Are Going Through a Major Life-Changing Event.
An accountant can be a lifesaver when you find yourself in the midst of a life-changing event in the middle of a tax year. Getting married or getting a divorce, having children, changing jobs, planning your retirement or receiving an inheritance can make a huge impact on your financial situation and may lead to unpleasant surprises on tax time. Thankfully you can avoid this if you have someone you can trust with your finances.