What Services Does a Sarasota CPA Provide?

Jul 22, 2022

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Originally Posted On: https://www.srqtax.com/what-services-does-a-sarasota-cpa-provide/

Operating a small business, you and your spouse juggle the bookkeeping. As you expand, you hire your best friend as a bookkeeper. You assume your business is in good financial hands and see no benefit to hiring a Sarasota CPA.

Using family and friends to handle finances is a typical start-up move that may result in significant financial loss. How do you determine if you’re making a profit without solid accounting practices?

Hiring a CPA can keep your business on track. What does a CPA do that your best friend can’t? Keep reading to learn everything you need to know about small business CPA services.

Bookkeeper, Accountant, or Certified Public Accountant

People think the terms bookkeeper, accountant, and certified public accountant mean the same thing. They have distinct differences in services they can perform and education.

Bookkeeper educational requirements are a high school diploma or GED.

Non-certified accountants usually have a bachelor’s degree, but some begin with an associate (2-year) degree.

Certified public accountants have 150 hours of education in accounting and a bachelor’s or higher degree. They must fulfill state licensing requirements and have one year of accounting experience before taking the CPA exam. CPAs take continuing education classes to remain current on tax codes and laws throughout their careers.

CPA Services

In addition to preparing the federal, state, and local tax returns for your business, CPAs offer:

1) Tax Advice and Planning

Your CPA can give you advice that will help lower your tax burden during the year. Their advice will reduce your chances of an audit.

They can answer questions from the state or local tax boards. If any questions arise, your CPA can represent you in front of the IRS and the Securities and Exchange Commission (SEC). All public companies must file quarterly and annual reports with the SEC.

2) Audit Services

Audit service isn’t for an IRS audit, but your CPA can assist you if you receive an IRS audit notice. Your CPA can audit your business finances and advise you whether practices are solid or if there are areas needing improvement.

3) Forensic Accounting

Forensic, fraud, and investigative accounting are all the same. The process involves your Sarasota CPA going through your books to determine if there is any indication of tax evasion or embezzlement. They’ll flag and investigate any suspicious activity.

4) Consulting and Management

A small business CPA is invaluable when assisting with the management and supervision of your business’s day-to-day financial procedures.

They can help with long-range planning, budgeting, financial planning, and cash management. The CPA can assist with preparing financial statements for shareholders, risk management, and investment advice.

5) Bookkeeping Services

Your Sarasota CPA can provide you with 100% paperless, remote business accounting services, including:

Certified QuickBooks ProAdvisors
Accountants
CPAs
Automation of AR and AP
Fraud Protection
Monthly review of books
Online access to employee timesheets, paycheck details, and more

If you are looking for help with your accounting and bookkeeping services, the best step is to seek assistance from a service that can meet all your needs.

Where to Find a Sarasota CPA

When you seek the services of a Sarasota CPA, look no further than Sterling Tax & Accounting. We can replace your onsite accounting department with our team of professionals, meeting all your business needs.

We are 100% paperless and provide our services remotely. You can access all information online at any time.