Do I need a CPA for my small business?

Generally speaking, a small business isn’t required to have a certified public accountant. A CPA is only needed if there is the case that the small business must have financial statements reviewed/audited in order to get a bank loan, to bid on a job, to apply for a grant or other requirements. Most small businesses aren’t required to have a CPA involved, but it would be helpful especially for a small business.

Difference Between CPA and Accountants

A CPA must meet rules and standards set forth by the financial accounting standards board, and pass an exam to use the credential. A CPA is licensed in the state where you reside, and must remain current with all tax laws to maintain their license. Accountants aren’t licensed. The CPA exam is a hard process that takes several days to finish. After a CPA is licensed, the person must comply with continuing education requirements to maintain their license.

Tax Laws

All CPAs are familiar with tax laws and must pass an exam that talks a lot about these laws. Accountants are considered unenrolled prepared and have a tax identification number. When it comes to audits, a CPA is eligible to represent you before the IRS while accountants cannot. CPAs can analyze the work and help you to make the best financial decisions to save money for your business or organization in the long run.

Call to Schedule a Free Consultation With a Professional CPA Today

If you're interested in learning more about CPA services, call to schedule a free consultation with an experienced accountant today. At Daleyn Accountancy, our professional certified public accountants can help you to successfully manage your books. Call us at 818-696-0866. We serve Encino, Los Angeles, Thousand Oaks, Camarillo, Agoura Hills, Woodland Hills, Calabasas and surrounding communities.