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What Does a CPA Do?

January 23, 2022
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If you find yourself wondering if you need a CPA in San Antonio TX, you’re probably wondering what exactly a CPA does. Is this something you really need to spend money on? Is this something you can do yourself? Realistically, you need a CPA, no matter how small your business is. These are some of the reasons why you need one like Gonzales Group.

A certified public accountant (CPA) essentially handles the accounting side of your business. These are trained professionals who understand the ins and outs of tax laws and loopholes and the general running of a business. They make sure you’re actually turning a profit and let you know if you’re not, and can suggest ways to change things.

A CPA – who also happens to be state certified, having passed the Uniform CPA exam – is able to handle tasks such as bookkeeping, financial planning, and preparing financial documents including tax returns and profit-and-loss statements. They take care of the details that small business owners don’t always have the time for or the interest in, much less the knowledge, ensuring your business stands a solid chance of being successful.

The most common task is to prepare and file your business’s federal, state and/or local tax returns, which is a big deal for any business, helping you find savings but also making sure you file properly and don’t risk fines. They can also represent you if there is some issue with the IRS.

As part of helping you with the IRS and taxes, they can audit your company to make sure there are no issues to arise, helping you avoid potential mistakes while giving you an unbiased report. Similarly, they offer assurance services, essentially making sure that the business’s decision makers have all of the relevant information they need to make informed decisions.

Alternatively, they can perform the management of a company’s daily  financial operations or at least assist. They are also capable of helping make long-range and strategic planning. Many business owners know the details of the service or product they provide, but they don’t truly grasp the financial preparation and planning, especially if they have shareholders. A CPA can help with budgeting, cash flow and management, risk management, insurance, and even aid in investment advice or provide a hand with estate planning, especially for family businesses.

Finally – and hopefully you won’t need it – but they can help with forensic accounting should there be some sort of financial fraud, such as tax evasion, embezzlement, or other serious financial crimes that a partner or someone else in the business may perpetrate.

These are just some of the many duties a qualified CPA is able to do for your company, big or small. If you’re starting to realize the need for a CPA in San Antonio TX, contact Gonzales Group today to help you get started on the road to stronger financial success.

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This post was written by Gonzales Group CPA


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