- Are you a certified public accountant (CPA)?
- How long have you been working as a CPA?
- How many people are on your team?
- What are some of the benefits of working with a CPA on tax returns?
- How long before Tax Day should I start looking for a tax preparer?
- What should I look for in someone to prepare my tax return?
- What type of tax records should I be keeping throughout the year?
- How long should I keep those records?
- What's the difference between accounting and bookkeeping?
- What the difference between a Certified Public Accountant (CPA) an Accountant, and a Bookkeeper?
Are you a certified CPA?
Yes. I have been a Certified Public Accountant since 1999.
How long have you been working as a CPA?
I worked with several public CPA firms in Manhattan and Long Island for ten years before starting my own firm in May of 2006.
How many people are on your team?
I collaborate with other professionals to help my clients based on their specific needs. I work closely with attorneys who can assistant clients with setting up corporations, Limited Liability Corporations (LLCs) and other partnerships. I also work with insurance brokers who can help clients obtain different types of business insurance coverage. My team includes estate planning experts and real estate attorneys as well.
What are some of the benefits of working with a CPA on tax returns?
As a CPA, I take continuing education and ethics courses each year to keep up with the current rules and regulations of the field. CPAs are regulated by the American Institute of CPAs, so you can rest assured that you’re working with a professional who is up to date with current tax law and is working with you in compliance with federal and state regulations. As a New York-based CPA, I am also affiliated with the New York State Education Department.
How long before Tax Day should I start looking for a tax preparer?
It's best to find a CPA to help you prepare your tax return before the end of the year. That way, there's plenty of time to meet with your CPA and discuss your financial situation. Planning ahead is the best way to save money.
What should I look for in someone to prepare my tax return?
Get a referral from a friend, family member or colleague you trust. It's important to find a CPA who is willing to take the time to understand your overall financial picture and go over your return with you one-on-one. You are responsible for what's on your tax return, not the CPA, so make sure you're involved in every step of the process.
What type of tax records should I be keeping throughout the year?
If you're a business, corporation or sole proprietor, you should keep all of your income and expense paperwork, such as invoices and receipts, in a safe, organized place. Always keep a travel log if you want to deduct travel expenses.
How long should I keep those records?
Keep your financial records for at least seven years.
What's the difference between accounting and bookkeeping?
Bookkeeping is data entry that becomes useful when doing accounting. You don’t necessarily have to understand accounting to be a bookkeeper, but as an accountant it's essential to understand accounting concepts and be able to prepare simple financial statements.
What the difference between a Certified Public Accountant (CPA) an Accountant, and a Bookkeeper?
A CPA is a licensed professional that must meet strict state certification requirements including: education, a rigorous examination, professional experience, and adhere to a strict code of ethics. The New York State Society of CPAs has detailed information about CPA requirements.
While all Certified Public Accountants (CPAs) are accountants all accountants are not CPAs. The principle differences between accountants and CPAs are education, experience and certification. An accountant is a general term for a professional who helps maintain financial records, analyzes financial records, and/or make sure taxes are paid properly. Accountants typically have detailed understanding and knowledge of cash flow, owner’s equity, balance sheets, chart of accounts, etc. and their effects on a business.
A bookkeeper is a person that is responsible for keeping track of business transactions including sales records, bank deposits, and sometimes payroll and may or may not have formal education or training. In new or small businesses the owner or principal of the business often does their own bookkeeping.
Define your business goals clearly so that others can see them as you do. - George Burns
