It's time to start digging up old receipts, compiling forms, rushing to meet deadlines, and being all together confused.
It’s that time of year again – the time you start digging up old receipts, compiling forms, rushing to meet deadlines, and being all together confused. Yes, it’s tax season. Maybe you considered hiring a Certified Public Accountant (CPA) last year, or have it on your wish list for this year, but either way, this time of year is always when you wish you had one, so in case you need an extra push, here are three reasons you should consider hiring a CPA:
Knowledge – We stay up to date on accounting and tax regulations and laws and have access to resources to enhance our knowledge. For example, we have a strong knowledge base through our professional affiliations, such as our State Accounting Societies and the American Institute of Certified Public Accountants which assist us in keeping current on professional standards, laws and regulations, and other matters pertinent to us.
Education – A degree from a college or university is required, along with practical experience to be a Certified Public Accountant. For example, in Pennsylvania, CPAs are required to have at minimum a bachelor’s degree from an accredited college or university. We also must pass a rigorous exam and complete 1,600 hours of work experience within five years of applying for our license. Our state license is maintained by completing 80 hours of continuing education every two years.
Code of Professional Conduct – CPAs must adhere to regulations and rules in the performance of their professional responsibilities. Their state societies also maintain ethical regulations which CPAs are required to follow. In Pennsylvania, as part of their continuing education, CPAs have to complete ethics courses as part of their continuing education.
When working with a CPA, clients derive peace of mind knowing that they have someone with this knowledge, education and code of professional conduct.
This article originally appeared on the TMS II, LLC blog.