Looking for one of the top Long Island CPA firm? We can help…
All businesses, whether they be small, medium or multinational companies, all need and can benefit from hiring services of a good CPA firm. Financial and tax advisor services can help your business benefit from building new opportunities and identifying opportunities that may already exist. That’s why you need a CPA, certified public accountant, and not just an accountant.
Today, CPAs are no more limited to just being number crunchers and tax preparers, the job of a CPA entitles much more than what most of us think. CPAs are working today as more of business and financial strategists than just being your accountants, they help draw the right path for businesses and individuals. Individuals can turn to their CPA firm for financial and tax planning services, estate planning, new and existing investment advice and more. Whereas, businesses are turning to their CPAs for not just to manage their finances and tax matters but to also help them determine the profitable ways for a new product, help diversify their investments and provide a range of other consulting and business services.
Why you need one of the top Long Island CPA firm?
Whether you have a small business or even just a one-person business, you are likely to need services of a CPA firm, here are some more reasons for why you need services of a CPA:
- CPAs are licensed
A Certified Public Accountant is licensed by the state and is required to stay updated with the current tax laws, to maintain their license in the practicing state. Whereas, accountants are not officially required to get license. The exam for CPAs is a rather demanding process that goes on for several days and includes many aspects of financial and tax expertise.
Getting licensed is not the end of the learning process of a CPA, they also have to comply with other continuing education requirements to be able to maintain their professional license and again accountants do not have this requirement. Moreover, there are also some other standards that CPAs have to follow through in order to maintain their license under the American Institute of CPAs.
- CPAs do financial analysis
To improve your business performance, your business needs more than accountants and bookkeepers, you need CPAs. A bookkeeper will be able to do just the routine recording tasks, like input of business income and expenses into the financial software program you use. An accountant can help you review this input of data and prepare and analyze the financial statements and reports.
However, a CPA can do much more for you, work of a CPA goes deeper and is more detailed. They perform thorough analysis and give you advice on your financial and tax matters, which help you actually improve your current business performance and meet business and financial goals. A CPA can give you what an accountant can and then some more.
- CPAs are in-sync with tax laws
While it is not necessary for all CPAs to specialize in small or medium business taxes, mostly all CPAs are more in-sync and familiar with tax laws than accountants. Knowledge of the tax laws and regulations is an important part of licensing of a CPA. Moreover, a lot of CPAs take courses on tax every year to keep up with the tax laws and regulations.
- A CPA can assist you in an IRS audit
Often the biggest reason businesses prefer to hire a CPA firm for their tax services is that a CPA is authorized to represent them in front of the IRS in an audit. However, accountant who are not CPA licensed can only represent their clients up to a limited extend. If you are paying a professional for tax preparations and to assist you in all financial and accounting matters, make sure this professional is completely eligible to represent you in case of an audit as well and he is qualified to execute claims on your behalf and for your interest.
In other words, it can be said that where accountants can do the routine work like tax returns, CPAs can analyze this work, provide insightful information, represent you at a tax audit and assist you in making highest level business and tax decisions. CPAs may charge you more but you do get level of services you pay for.
Why should you choose Savignano as your CPA firm?
- The Founder and CEO of Savignano, John Savignano is a CPA, CGMA qualified and plays an active role in maintaining the variety of services and capabilities the firm offers for all business and personal financial needs of their clients. He has a hands-on approach in running the firm, which helps him ensure that all Savignano clients receive smooth, consistent and high-quality of services. John and the team of Savignano are actively engaged and dedicated to live up to their set bench mark for integrity and professionalism while meeting every client’s individual needs.
- Savignano offers business valuation services with team of qualified and experienced experts, which consists of a range of comprehensive business valuation and consulting services catering to different business types and industries. The services include professional insights for business strategic, operational and financial matters and accurate and defensible business valuation report from experts at Savignano Accountants and advisors. There can be many reasons and situations for needing business valuation services such as buying or selling a company, settling estates matters, managing divorce case property settlements, handling insurance, selling shares, and updating valuations through a growth period.
- No matter the kind of business you run or the industry you are part of, all businesses need relevant and accurate financial advice specially when handling business capital and investments, doing financial planning or filing taxes. Taxes are a necessary concern for all businesses, as they all at some point have to deal with preparing their taxes and other tax concerning matters. Accurate and timely knowledge about changes in tax laws, correct interpretation and deductions and tax credits, can really help businesses save a substantial amount of their money. The expert and experienced tax consultants at Savignano offer in-depth tax services including strategic tax planning, tax compliance, tax overviews, tax incentives and credits, audit defense planning, support and representation, organizational structure evaluations, tax law changes, international tax and accounting for income tax.
- Savignano Accountants and Advisors offer financial advisor services as well. The team consists of expert professionals, who have excellent understanding of the financial markets, helping their clients productively identify and deal with business opportunities and other financial matters. The financial advisor team of Savignano is focused at helping their clients gain competitive advantage in their markets and accelerate their financial performance. Savignano’s financial advisor services include financial goal strategies, retirement, insurance, investments and estate planning.
- Bookkeeping is recording of all business transactions that may vary from one business to another depending on their core operations. Savignano provides accounting and bookkeeping services with their team of accounting and bookkeeping professionals, who use systematized process and latest technologies in accounting to provide more streamlined services. Some of the Savignano’s accounting and bookkeeping services include general accounting or bookkeeping and advisor services, audits, reviews and compilations, and other business services like purchase price allocations, forensic investigations and financial modeling.
This is James Williams and I am a blogger. I believe maintaining my blogs allow me to stay up dated with the new happenings and help my readers by on top of the market as well. Some of usual go to blog areas are accounting technologies and top long island cpa firms.