| CPAs are Certified Public Accountants, certified by | | | | as familiar with tax law as the IRS representative |
| the Board of Accountancy. These CPAs can | | | | performing the audit. Because of this, the CPA |
| perform a variety of services to small businesses, | | | | can negotiate a lower penalty, help you avoid |
| large corporations, or individuals. They are | | | | penalties, and help you claim the deductions you |
| accountable to government agencies for their | | | | deserve. You should contact a CPA as soon as |
| ethics and business practices, which ensures that | | | | you have received an audit notice from the IRS, |
| you the consumer are protected from fraudulent | | | | because the CPA can help you prepare for your |
| activity by CPAs, and giving you security in | | | | audit and gather the necessary information. Then, |
| knowing that your accounting is in good hands. | | | | the CPA can walk into the audit interview by your |
| CPAs can perform general accounting, audits, or | | | | side, completely in charge and confident of the |
| tax services. CPAs must have a college education | | | | outcome of your audit. |
| in accounting, and an examination prepared by the | | | | If you own a small business, a CPA can also help |
| American Institute of Certified Public Accountants | | | | you determine what business taxes are required |
| (AICPA). A CPA can be self-employed individuals | | | | by your local, state, and federal government. In |
| acting on their own behalf and that of the CPA's | | | | addition, the CPA can help you set up a double |
| clients, or they can be employed within a public | | | | entry accounting system that includes a journal |
| accounting firm in tax or audit services. | | | | and ledger. The CPA can also help you to set up |
| Having a CPA prepare your business or individual | | | | a standard chart of accounts for use with your |
| income tax return is a great way to avoid errors, | | | | ledger. All of these tools will help you stay |
| not to mention the prying eyes of the IRS and an | | | | organized and ready for tax time and any possible |
| audit. A CPA must undergo continuing education | | | | audits. The CPA can also use the information |
| as accounting and tax laws change from year to | | | | from these tools to create financial statements |
| year. Therefore, only a CPA can ensure that your | | | | for your business, which will then help you to |
| tax return is completely accurate. Not only is | | | | make business decisions, make comparisons with |
| accuracy important to the IRS and in case of an | | | | competitors, discover industry and company |
| audit, but it is important to your immediate | | | | financial trends, and prepare financial reports and |
| financial future as well. Because a CPA has | | | | business plans for purposes of investors and bank |
| intimate knowledge of tax laws and available | | | | loans. |
| exemptions, a CPA can make sure you get the | | | | Whatever the financial service required, a CPA is |
| largest refund possible. | | | | your best bet. With a CPA, you have the security |
| In the case that you are chosen for audit by the | | | | of a licensed, monitored professional along with |
| IRS, your best bet to come through the audit | | | | the peace of mind that all of your accounting is |
| cleanly is to have a CPA by your side. A CPA is | | | | accurate and ready for any possible audit. |