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Is it possible to save yourself from an IRS audit by speaking to an accountant or a CPA?

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Every year, there are millions of taxpayers who find themselves wondering whether or not they should seek help of a professional tax expert or a CPA. When your elders or financial advisors tell you that you should seek their help, the next question that comes to your mind is who the best person will be for handling all sorts of family as well as business tax issues. Well, you need to know that this answer won’t be the same for all and hence you need to determine the tax situation that you’re personally going through and the person who will be well trained to handle such situations.

If you know who CPAs are, you will know how important they can be for your business or for your personal financial situation. Let’s take a quick look at the ways in which you can seek help of a CPA who specialize in various tax issues.

A CPA – Who is he?

In a world that is full of tax pros, specific individuals are allowed to perform specific jobs based on their training and experience. While accountants help you in preparing financial reports, they also provide you with the much-required documentation regarding the financial background of a person. It is said that all accountants might not be a CPA but all CPAs are an accountant. The person requires qualifying through all the tests that are administered by the American Institute of Certified Public Accountants.

How exactly does a CPA help you?

Being a licensed expert, a CPA should take educational courses throughout 120 hours every 3 years so that they could maintain their license. This makes sure that each and every licensed CPA obtains training and education which is required to stay abreast of the changes that are being brought about in the industry. This is the reason why a CPA is qualified in the best way to handle tax issues of a business or an organization. Here are few ways they can help you.

  • They offer you advice on how to tackle estate tax and income tax in case of separation or divorce.
  • They decide on the tax consequences which might result from the different opportunities for investment.
  • They let individuals enhance their tax management skills and save money.
  • They advise the business owners and the individuals on the tax consequences which are related to their business decisions.
  • They represent an individual or a business in accordance with their IRS issues. They might prepare documents, present written and oral arguments and also appeal an IRS decision.

Therefore, if you feel intrigued about the ways in which a CPA can help you, get in touch with one of the best firms that supply you with the most trustworthy CPA.

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