You Probably Need an Accountant in Austin TX
You might be asking yourself if hiring a CPA or tax accountant in Austin is necessary for the success of your business. If you’re doing well and your business is bringing in money, it’s easy to assume that you’re at the top of your game and handling your finances on your own and that you don’t need an accountant. This is a popular state of mind for small business owners, especially those in their first year of running their businesses. When you think that you don’t need an accountant, you probably need an accountant.
What’s the Benefit of Tax Accountants in Austin TX?
If you’ve got experience in bookkeeping, you might feel that you’re doing just fine managing your business and your money. While it’s extremely beneficial to have the ability to look over your own finances, accountants working for CPA firms in Austin TX have dedicated their professional careers to knowing the ins and outs of finance, money management, and taxes. Simple bookkeeping is a walk in the park for a tax accountant or certified public accountant.
Balancing your books is only one aspect of your finances, but what about tax strategy? Hiring a CPA or tax accountant to develop a tax strategy for your business can benefit you by saving you money that you didn’t know you were entitled to, as well as setting you up for helpful tax credits in the future. Having a tax accountant in Austin correctly record your finances or having a CPA show you how to strategize means better returns for your business in the long-run. It’s important to plan your taxes by not just filing and claiming deductions on your own. Sure, that’s one part of running a business, but if you want to run it efficiently, it’s a great idea to consider professional advice.
What’s the Difference Between a CPA and Accountant?
While all CPAs are accountants (as CPA stands for certified public accountant), not all accountants are CPAs. A CPA has been certified by the state they practice in and must comply with requirements, take examinations, and have several years of practice before achieving certification. They must also comply with continuing education requirements to keep their license. A CPA simply has a wider range of work and can offer financial advice to clients.
An accountant in Austin TX that does not hold a CPA certification can look over your finances and record your company’s status to ensure that books are kept correctly and money is accounted for. While an accountant can make suggestions to the small business owner, their specialty is not in financial advice.
Do I Need a CPA or A Tax Accountant in Austin?
Choosing between hiring a certified public accountant, a tax accountant, or neither, is up to the owner of a small business. If you find that you’re in need of financial advice or want to strategize your taxes for optimal returns, it’s in your interest to consider hiring a CPA. This also goes for small business owners who would like the added security of having their accountant represent them in the case of an IRS audit. It’s easy to understand why many small business owners want added protection when filing their taxes in Austin.
For other business owners, those who have been successfully managing their own business for more than a year and feel satisfied with their own tax strategy, a tax accountant in Austin might be a more cost-effective move. It’s always a good idea to have a professional review your finances and past tax returns to ensure that everything has been conducted correctly. Even if you don’t feel that you need the services of a CPA, an accountant can scan over your documents and warn you of possible deductions or math mistakes that will raise red flags for the Internal Revenue Service and put you at risk for an audit.
The Bottom Line
As a small business owner, if you think that you might benefit from the services of a CPA firm or tax accountant in Austin TX, and you have the means to invest in professional services, it’s a good idea to take advantage of the benefits your business can receive when an experienced eye looks over your financial records.
Keep in mind, you can shop around for the CPA that’s right for you. You have the right to ask questions and attempt to find an accountant that can be a trusted partner for you and your business. You’re not obligated to take advice that you don’t agree with, and with an open line of communication between yourself and your CPA or accountant, you can open yourself up to new experiences and ways to run your business more efficiently.
We care about our businesses and want to do all we can to be certain that they’re in ideal condition financially. While working on this aspect, we often forget that it’s necessary to protect our businesses against any problems that might arise in the future. We want to be sure we aren’t being taken advantage of by our employees, and that we are obeying business laws when we file our taxes so that we don’t inadvertently bring down the wrath of the IRS.
Mistakes can end up being very costly, both in time and money. In order to keep our businesses safe, it’s a great idea to trust the judgment of a certified professional to offer assistance and advice to guide your company through the years. Working with a tax accountant or CPA in Austin TX is almost like an insurance policy geared to keep you on the right track and make the most of your business.
If you’re in the market for a reputable CPA firm, consider West Austin Tax for your income tax questions and services. You can visit their website for information, video resources, or to schedule an appointment with one of their professional CPAs. You can also call (512) 330-9400 for more support.