As you shut the door on tax season this year, remember not to close it on the relationship you have with your CPA. Taxes are just part of the overall financial planning process, and there are plenty of ways a trusted CPA can help you reach your monetary goals for the future. Here are a few ways your tax professional can help you after tax season.
Financial Planning
Having a financial expert in your corner can help you reach your financial goals, both personally and professionally. A financial adviser can assist you with things like budgeting, tax deductions and exemptions as well as making contributions to your retirement fund. A good CPA can help keep your finances on track throughout the year.
Extensions and Audits
If you filed a tax extension, you’ll have an additional six months to file your return. Tax extensions give you more time to organize your financial information and contribute to your retirement accounts. If an audit occurs, CPAs are an invaluable resource when responding to the IRS. After all, they know the tax laws best and can spot inconsistencies or errors that may need to be fixed.
Tax Strategies
Once the stress of the tax deadline has passed, it’s a good opportunity to sit down with your CPA and review the success of your past tax strategy. Consulting an expert will give you insight into how to be more efficient in the future. They can offer tips on how to update your bookkeeping system and review ways to better manage your exemptions, deductions and credits.
Retirement Accounts
A CPA can help make sure you have a retirement plan in place that will work for your individual financial goals. They can help you understand how much you should be contributing throughout the year to ensure the success of your future.
Do you have more questions about how a CPA can help you get ahead of next year’s tax season?
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As the most experienced CPA in the Inland Empire who specializes in working with seniors, Marcia L. Campbell is committed to helping each client thrive by caring for their personal and financial wellbeing with genuine interest, well-established expertise, and a focus on respectful partnerships. Marcia’s team specializes in a number of services including elder & financial care, court & trust accountings as well as private fiduciary and tax services. At Marcia L. Campbell, CPA, we understand the importance of our clients’ individual needs and are committed to helping them make the best personal and financial decisions for their future.