Hi Cobrun:
Here's an article I found which explains a lot about the difference between these:
https://www.thebalancesmb.com/bookkeeper-accountant-cpa-what-is-the-difference-398569Once you know what they do, you can decide which one(s) you need to hire.
I use Quickbooks, and I have an enrolled agent that reconciles my bank account each month. At the end of the year, he does my taxes. I use Quickbooks online version so that he can remotely do his work. I find that many CPA's and tax agents don't use Quickbooks, but have their own systems. I had a CPA that couldn't use QB, and I had to print out reports for him. You could use any system you want to keep track of your income and expenses. I used to use One Write, a manual system, and there are many more non computerized bookkeeping journal systems. As long as you keep all your income and expense information somehow in one place (hopefully!), you can give this to whoever you want at the end of the year to do your taxes. A CPA is going to be more expensive, but he/she can offer helpful advice regarding tax situations and planning. Passing the CPA exam is a huge hurdle that "separates the men from the boys". They have to know tax codes inside out and be able to prove it. Enrolled agents can also help you with your taxes, but aren't as knowledgeable as CPA's generally. I have also found that asking advice from them isn't as easy as I thought. They're busy and don't like giving free advice at your whim. Other than your small business, if you have investments, rental properties, other businesses, estate issues, etc., a CPA can be a huge help and quite a good investment, if only for your peace of mind at minimum. I used my mother's CPA for years when I became her conservator, both for her taxes as well as mine. I paid dearly, but it was worth it.
Good luck.
Paul McCloud
Cobrun Sells:
I am looking for an accountant, CPA, enrolled agent, or any other tax/bookkeeping guide for my tuning business. Which one of those should I look for and when looking for them what things do I need to look for? Would any one of these give helpful advice in choosing a bank to do my business banking or should I look for a bank without advice from any of the above guides?
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Cobrun Sells
Farmington NM
505-402-6481
Original Message------
I am looking for an accountant, CPA, enrolled agent, or any other tax/bookkeeping guide for my tuning business. Which one of those should I look for and when looking for them what things do I need to look for? Would any one of these give helpful advice in choosing a bank to do my business banking or should I look for a bank without advice from any of the above guides?
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Cobrun Sells
Farmington NM
505-402-6481
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