Clinton Peterson, CPA is a Certified Public Accountant firm. All Certified Public Accountants (CPA’s) are accountants, but not all accountants are CPA’s. The legal distinguishing factor is that a CPA is licensed by the state. The CPA exam is a rigorous process over several days and includes many facets of financial and tax expertise. A CPA must also keep current with tax laws in order to maintain that license.
This continuing education provides a significant benefit to your business. Every business, no matter how small, should have a financial and tax advisor. Tax laws are complicated and they change frequently. Since CPA’s stay on top of the tax laws they are in the best position to know how those changes affect you and your business.
We hate to think about tax audits, but every business, no matter how small, should plan for this possibility. A CPA is eligible to represent you at a tax audit before the IRS. It is comforting to know that there is someone who knows you and your business and will be at your side should you ever need that assistance.