Licensed CPA

Do I Need A CPA For My Business in 2024?

If you’ve been flying solo without the help of a Certified Public Accountant (CPA), you might be missing out on valuable tax deductions, business strategy insights, and profitability initiatives. Here are five reasons why you should consider adding a CPA to your business team in 2024.

Do you need help managing daily bookkeeping?

Hand over the reins to a professional bookkeeper to free up your time. For an added layer of expertise, consult with a licensed accounting firm for comprehensive bookkeeping services.

Do you need financial advice for your business?

A professional accountant or CPA can analyze your business finances and offer strategic advice to help you grow.

Do you need to prepare your taxes?

While a bookkeeper can help with payroll and sales taxes, only an accountant, CPA, or EA can file your tax returns.

Are you worried an employee might be stealing from you?

A forensic accountant can uncover potential fraud and provide peace of mind.

Are you a private or public corporation?

Public corporations must provide audit reports to investors, and only CPAs are qualified to prepare these reports.

Ready to take your business to the next level?

Avoid the D.I.Y. approach to your business finances. Partner with a licensed CPA to guide your business financially.

Give us a call and let’s chat about how we can help you achieve your financial goals and make your business life a little easier.

Should I do my own Taxes in 2024 or Hire a Licensed CPA?

In the past, I’ve had a “tax professional” handle my personal and business taxes. However, lately, I suspect I might be missing out on some deductions that could increase my return.

When do I need a CPA to do my taxes?

Avoid unscrupulous tax preparers who may include errors or false information on your tax return, leaving you open to liability for unpaid taxes, penalties, and interest.

Here are six frequently asked questions we hear and why we think you should work with a licensed CPA, especially during tax season.

How do I know my taxes are prepared accurately?

There is no recourse for you if your taxes are prepared incorrectly by an unlicensed person or company. Did you know that to prepare tax returns, a person needs zero training or licensing to do so for the public?

What is required for a person to prepare my taxes with the IRS?

Only a small fee paid annually to the IRS is required to e-File returns. Yes, you read that right – zero training is required and a small fee is all it takes to call yourself a “tax professional” and to file your taxes with the IRS.

If my taxes are prepared wrong, my tax preparer is responsible – right?

If your taxes are prepared incorrectly, there is nothing an unlicensed “tax preparer” is required to do to make things right. An unlicensed person can just walk away while you deal with the fallout from the IRS, including an audit and restating your taxes.

Is there recourse when you work with someone who is unlicensed?

If your taxes are incorrectly prepared by an unlicensed “tax preparer,” there is no recourse with any state or federal agency. An unlicensed tax professional can just walk away.

Is my personal information safe?

When you have your taxes prepared, you are entrusting all your sensitive financial information (social security numbers, birth dates, driver’s license, bank information) to someone. There is no requirement for an unlicensed person to keep your data secure.

Is my sensitive tax information securely protected?

There are no rules or laws requiring an unlicensed person to maintain the basic level of computer security to protect your sensitive tax information or files from potential computer hackers.

If you’re concerned about data security, accountability, and ensuring every possible deduction is found, work with a licensed, virtual CPA, like us.

Ready for a stress-free tax preparation?

Let’s chat about how a licensed CPA can make your life easier and boost your tax return. Contact us today and see the difference!

Business Owners: 5 Reasons Why a Licensed CPA is Your Secret Weapon

Running your own business is a lot. You’re the boss, calling the shots and chasing your dreams. But let’s face it, wearing all the hats can leave your finances feeling a little…exposed.

That’s where a licensed CPA steps in as your secret weapon. The team at Insogna CPA are not just number crunchers; we are your financial strategists safeguarding your data, navigate complex tax savings, and communicating proactive business decisions in real-time.

Here’s why a licensed CPA should be on your speed dial:

1. Protect Your Finances

Data security is paramount. Unlike unlicensed bookkeepers, licensed CPAs are bound by strict state board rules to protect your sensitive information. We utilize a 3^rd-party security company helping us with top-tier security measures like encrypted file transfer and secure password management to keep all data as safe as possible.

2. Hacking the System (Legally)

Cybersecurity threats are real. Licensed CPAs invest in robust computer security systems like VPNs and firewalls to shield your data from hackers. Don’t risk your business to someone whose security is non-existent.

3. Confidentiality You Can Count On

Unlike unlicensed bookkeepers, licensed CPAs are legally bound to confidentiality. Your financial information stays confidential, just like a attorney-client relationship.

4. Don't Get Stuck Holding the Bag

Mistakes happen, but with a licensed CPA, you have recourse. Should anything go wrong, the State Board of Accountancy provides a clear path for resolution. Unlicensed bookkeepers and tax preparers? There’s no one to hold accountable if things go south and you need information.

5. Accountability is Key

Licensed CPAs are held to rigorous standards by professional organizations. This translates into peace of mind knowing your financial work is completed with accuracy and integrity.

Ready to take your business to the next level?

Contact Insogna CPA today and discover how our experienced team can help be your trusted, proactive CPA partner.