Frequently Asked Questions
ABOUT ACCOUNTING AND CPAS
Whether you own a small or large business, accounting plays a vital role in the growth of your business. There are many questions that may cross your mind every day related to accounting. Let’s take a look at some of the frequently asked questions related to accounting:
What is a CPA?
A Certified Public Accountant (CPA) is a professionally trained and licensed accountant. CPAs have a strong educational background in accounting, have passed a CPA exam and are able to represent clients in financial matters including tax preparation, personal financial planning, business financial planning, auditing, forensic accounting and more.
How can a CPA help my business?
CPAs have a broad knowledge of many business matters, which allows them to provide proper planning and consulting services when it comes to business finances. The CPAs at Armstrong Backus are expert business advisors, helping clients navigate audits, reviews, compilations, business income tax preparation, bookkeeping and payroll services, business purchases and financial statement preparation.
Should I work with an accountant?
The short answer, yes! Whether personal or business, navigating taxes on your own can cause an increase in taxation and lead to mistakes in the tax return filing/preparation. We recommend consulting with an expert CPA to ensure your financial statements and tax filings are in order.
Why do I need a CPA?
It’s a CPA’s job to help you when it comes to your finances. A CPA’s extensive knowledge is backed by the proper licensure to advise on and prepare financial statements as well as tax preparation and planning. CPAs are experts in the financial field and will provide recommendations on both business and personal finances.
Can a CPA help with wills or trusts?
Yes, CPAs are valuable partners when creating or executing wills and trusts. CPAs work in tandem with attorneys to provide valuable knowledge and expertise concerning wills and trusts.