The primary fact that you need to understand about a certified public accountant is that he is not someone who just organizes your tax records,
prepares your tax returns or crunches numbers. CPAs are unique and can provide a lot of services ranging from providing you financial advice and assisting you in making decisions about your tax implications and lifestyles to sorting out your finances entirely.
Here are seven situations that call for a certified public accountant so that you can be offered advice in the most premium way.
1. You Just Bought a Business
If you are buying a new business or have bought your own new business, a certified public accountant will be able to help you prepare for it in the best way. Through their assistance, you will be able to ensure all your tax related forms are filed to correction.
2. You Need Investment Advice
When you are considering investment options like trading in or selling bonds, stocks or shares, you will need the help of a CPA. When you conduct sales and purchases through taxable accounts, you will have to consider legal notions and a CPA can save your money and time in the process.
3. You Need Advice on Real Estate Planning
If you own a property and are planning to either lease out your property or rent it, having a CPA can ease your work a lot. You might be ignorant of special tax situations and he can help you structure the rent and draft the lease so that you can earn maximum benefits.
4. You Are Retiring
When you are reaching your retirement phase and planning to settle down for a quiet and peaceful life, you need the help of a certified public accountant. Your CPA will be able to provide you with the advice on retaining your self-sufficiency and planning ahead of your retirement, by briefing you on the taxation rules and retirement benefits.
5. You Have Just Encountered a Major Life Change
Anytime you have to go through a huge change in your life, whether you get married, divorced or have children, you need the help of a CPA to guide you through the transition. Your changes in life will also bring changes in your tax situation and only a CPA will guide you better.
6. You Are Moving From One Place to Another
When you move from one state to another, or migrate from one country to another, your financial situation gets affected automatically. You are required to change your tax laws and regulations. In such cases, a CPA can guide you on comparing your previous and current position and make financial and tax-related changes accordingly.
7. You Have Won a Lottery
If you win a lottery or inherit a huge amount of money, it is not going to be all yours. The lump sum of money will bring along a lot of financial forms, deductions and taxes and a CPA will be the perfect person to help you out of the problem.
Should you come across any of the defined ten situations, get help of a certified professional accountant right away to maximum your present and future financial situations.