What Does a CPA Do Exactly?

A CPA Reviews Financial Data.

What does a CPA do exactly?

A CPA, or certified public accountant, has many roles. CPAs are financial advisors providing their services to individuals, businesses, and organizations. In general, they help their clients plan and reach their financial goals. CPA services can range from basic bookkeeping to providing payroll services to preparing taxes. When you are in need of CPA services in Fort Worth, TX, you can always rely on Don R. Walker, C.P.A.. To find out more about how he and his team can help you or schedule an appointment, all you need to do is call 817-905-1040.   

What services do CPAs typically provide?

CPA services are wide-ranging. They help clients with financial services and provide financial advice. Among the most common services CPAs provide include:

  • Auditing and reviewing books and financial statements to determine financial well-being and status. Such information is often provided to third parties like investors.
  • Consulting on business or financial strategies or about adequate systems.
  • Advising about taxes and preparing tax returns.
  • Providing forensic accounting services, investigating whether fraudulent financial activities have occurred.  
  • Providing individuals or businesses with advice about financial planning
  • Offering services for litigation purposes. CPAs can provide financial analysis in court cases ranging from divorce cases to business disputes to bankruptcy hearings.

Can a CPA do payroll?

If you run a business and have employees, when you need help keeping up with payroll, CPA services may be required. Payroll is a typical service that CPAs provide. Not only do they oversee payroll, but everything that goes with it, including preparing payroll taxes. Having a CPA managing your payroll can save you a great deal of time, money, and from potential problems with the IRS. CPAs understand the tax codes and make sure you are not paying too much or too little in payroll taxes. When you want to make sure your payroll taxes are taken care of right, reach out to the professionals at Don R. Walker, C.P.A..  

What can CPAs do that accountants cant?

While most trained accountants can provide many of the same services that CPA services provide, CPAs provide two specific services for businesses that other accountants do not.

A CPA can:

  • Provide audits and reviews of financial statements and file reports with the Securities and Exchange Commission. If you have a publicly owned company, you have to file audited financial statements with the SEC.
  • Provide representation in front of the IRS in lieu of an attorney.  

CPA services for small businesses

When you are a small business owner it is advised to hire a CPA to help you with accounting services. CPA services include basic bookkeeping, as well as payroll services like preparing payroll taxes. A CPA can also help you with financial planning and help you meet your financial goals. While most accountants can provide similar services, there are some services only CPAs provide. For instance, as your business succeeds and grows, you may consider publicly trading it. For this, you will need a CPA to audit your financial statements and report to the SEC.

CPA tax service

As most individuals know, preparing taxes can be complicated. If you run your own business, you can run into more tax complications. Getting help from CPA services can alleviate a lot of the hassle of taxes for small business owners. CPAs can help you with payroll and bookkeeping, and make sure all of your taxes are in order. They can thoroughly review your financial statements to make sure everything is in order.

Are CPA services tax deductible

Many CPA services are tax-deductible. If your CPA does your bookkeeping, those expenses can be deducted. Similarly, if a CPA audits or reviews your statements, you can deduct those services as well, if your firm is public. Tax deductions are just one of many advantages of using a CPA firm like Don R. Walker, C.P.A. for your business’ financial needs.

How much does a CPA charge?

Costs for CPA services will vary. Primarily, the cost will depend on the fee schedule the CPA has set. Individual accountants or firms will set the fees they charge. Usually, the fees are hourly rates, though some set fixed rates. Fees will fluctuate based on location, experience and training. On average, though, you should plan to spend anywhere from $30 to $500 per hour. While this may sound like a great deal, you are paying for highly trained and educated individuals performing invaluable services like tax preparation and audits. While other financial services exist that may charge lower fees, you’ll often get more insight from a CPA. Many CPAs specialize in particular fields like taxes and tax preparation and have a deep understanding of tax codes that can serve to benefit you greatly.

A CPA Reviews Tax Documents.

CPA and bookkeeping services near me

If you are looking for reliable CPA services in Fort Worth, TX, you can always count on Don R. Walker, C.P.A.. Our firm has experienced professionals that provide a full range of services for individuals and businesses alike. Find out how we can help you with your financial future by calling 817-905-1040.