Why Should I Work with a CPA?
There are many options for filing your taxes. You can go with a DIY software, work with a CPA, or choose another kind of tax preparer.
If you want to ensure your taxes are filed correctly and accurately, hiring a CPA is the best course of action. A CPA is a chartered professional accountant who is licensed by the regional authority to practice accounting. As a result, CPAs have a considerable amount of education, training, and ongoing professional development specifically in tax-related areas, and that makes them the best qualified people to help you when it comes to taxes.
Baldip Moore, CPA, CGA, has heard countless horror stories from clients who decided too late to work with a CPA, and were not able to engage one in time to file their taxes. Unfortunately, those clients ended up owing thousands of dollars — in some cases hundreds of thousands of dollars — more than they would have if they had worked with a CPA to prepare their tax return.
Here are 4 reasons to consider a CPA next time you need help with your taxes.
CPAs must abide by a code of conduct
Every CPA has to follow a
Code of
Professional Conduct that is outlined by the Chartered Professional Accountants society. The code covers elements such as professional behavior, integrity and due care, objectivity, professional competency, and confidentiality. A CPA is bound by their code to ensure they take good care of clients and are qualified to do so.
CPAs are experts in tax preparation
A CPA will always ensure that clients have the information they need to make the right decisions for their tax return. CPAs are experts in tax preparation, and clients can trust that they will provide them with the right guidance. On everything from tax deductions to benefits and more, a CPA ensures that clients have the best possible outcome. For those that own a business, have a large amount of investments, own rental properties, or are being audited, a CPA is a valuable member to have on your team. They can offer advice on complex tax issues that may help you save on your tax return.
At Bridex, Baldip Moore, CPA, CGA is always providing his clients with helpful resources to ensure they have the right information when it comes to taxes. Knowledge is a core value at Bridex, and it’s vital to make sure clients are well informed. Take a look at these helpful blogs to learn more about how to get the best results for your tax return:
CPAs stay up to date with tax rules and regulations
Tax rules change frequently, and new laws and regulations are added on a regular basis. As part of the CPA accreditations, CPAs are required to take at least 40 hours of training each year to increase their knowledge. This means that CPAs are constantly learning about new tax rules and regulations and are always up-to-date on changes that the government has issued.
CPAs protect their clients
The reason a regulatory body like the CPA exists is twofold: It protects clients and it ensures there is a certain standard of practice. The Chartered Professional Accountants association ensures that all CPAs meet their standards, and this as a result protects the public. People can expect a certain level of quality across all CPAs because it is standardized by their association.
Don’t want to risk your money? It’s time to work with a CPA
When it comes to tax time, be sure to engage a CPA early on in the process so that you can have them help you file your tax return. Even though your tax filing deadline may not be until April, it’s best to start looking for CPAs several months ahead so you can book their time to work with you.
While a CPA will handle the heavy lifting of filing your tax return for you, there are a couple of things you can do on your end to streamline the process:
- Gather all of your documentation for the tax year
- Organize your paperwork by month or category
- Be available to answer any questions from the CPA
This will ensure that the CPA has all of the information they need to complete your tax return, and that you’re not running around at the last minute gathering paperwork.
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