At Edgewater CPA Group, we want our clients to focus on the things that matter most to them, such as family, business, and health. Why spend time worrying about tax laws and financials when you can use one of our experts to navigate them on your behalf? If you’re not convinced, we have compiled a list of 20 reasons you should use a CPA. Our last blog contained the first ten reasons, and this blog includes ten additional reasons. Let’s dive right in!
11. You Have Multiple Sources of Income
Multiple income streams provide financial benefits as well as potential tax implications. Income from businesses, real estate, a trust, investments, 1099 income, etc. is taxed differently. A CPA can navigate the tax burden, get you set up on quarterly payments, find potential savings, and more.
12. You Experience a Life Change
Marriage, divorce, and having children are three examples of significant life changes that impact taxes. A CPA can help with changes related to deductions, credits, and withholdings. They can also support you as you realign your financial strategy.
13. You’re Not an Expert
You may be an expert entrepreneur, investor, or another type of professional. You may even have a solid understanding of financials and taxes. However, if you’re not immersed in the field, you may not be in a position to understand every rule and nuance, including ways to benefit.
14. You Don’t Want Costly Mistakes
Do you remember Alicia Silverstone in the movie Clueless? “Oops, my bad!” doesn’t work with the IRS.
15. You Invest in Cryptocurrency
We specialize in cryptocurrency. This is a newer technology, and it’s nuanced, so we definitely recommend using a CPA for these types of investments.
16. You Can’t Keep Up with Changes
Tax laws, rules, and amounts change fairly frequently, especially with changing administrations. There is a package currently under consideration that will impact most businesses if passed. We stay up to date on all new laws and regulations, so that you don’t have to be an expert in this area too.
17. You Enjoy Relational Consistency
Your CPA is a professional service, but it’s also a relationship. You want to know that you can trust them, and that they know your business, bookkeeping, financials, and tax process well. Sticking with them provides consistency and confidence.
18. You Want Audit Support
Hopefully, you won’t ever find yourself in an audit. But, if you do, you can be confident when your CPA helps to represent and advocate for you, and they support you through the process.
19. You Would Benefit from Financial Analysis
CPAs can help with bookkeeping services, controller services, taxes, payroll, and more. Moreover, they can provide insight into your business’s performance, the validity of your projections, and the solidity of your strategy.
20. You Want Peace of Mind
Of all the reasons you should use a CPA, this may be the best. The money a CPA can save you typically outweighs their cost. Additionally, using a CPA as a fiduciary agent on your behalf instills confidence in your reporting. They also provide a buffer for when questions come up, or if something goes wrong. All these factors provide peace of mind, and most people relish that.
Use an Edgewater CPA
You now know all 20 reasons why you should use a CPA, so why not use Edgewater CPA? We support clients in Carmel, Fishers, Westfield, and the surrounding areas, as well as Evansville and Fort Wayne. Call today at (888) 317-4835 with your questions or schedule a consultation online.