Accountant vs. CPA
An accountant who has passed a rigorous licensing examination in their state is the only person who can claim to be a CPA. That means that every CPA you meet is an accountant, but every accountant is not a CPA. For example, at Holdsworth Chadd Fuller CPAs, each member of the firm is a CPA and has done the challenging work to be at the top of their field. Some offer CFO services or provide outsourced accounting services, as well.
Why Choose a CPA?
To be a CPA, your tax professional will be required to maintain a license. While being licensed, that accountant has to continue their education and keep up with the current standards and regulations. This is not required for the average accountant. It is not to say that an accountant who is not a CPA will be bad at their job, but a CPA has more riding on being one of the best in their field.
Tax Law Understanding
Every CPA is going to have a better knowledge of tax law than an accountant. Some will even specialize in small business taxes, which works out in your favor. Part of the licensing requirements for a CPA involves tax code, and a large number of CPAs take courses on a regular basis to stay up to date on these regulations and rules. While any accountant can help with taxes, you will not have the assurance that they can do things right. They also are not able to represent you in the case of an audit.
Another area that CPAs excel is with financial analysis. While a bookkeeper can perform tasks involving records, accountants can take that information and analyze it into usable information for your small business. With that information, they can also provide you with advice about financial matters and taxes. While being a CPA does not mean someone is a financial genius, it does mean he or she works hard and is prepared for the position they are in.
If you run a small business and need a CPA to rely on, consider Holdsworth Chadd Fuller CPAs. If you would like to book a free consultation, you can visit us online.