What to Expect From Your Accountant in the Summer Months (Part 1 of 3)
Now that the dreaded tax season is behind us, and the tax returns have been filed, most of us will try to avoid a visit to the CPA’s office. And what does happen during the tax superman”off” months? Does your accountant put away the calculator and head to the beach? The summertime is almost here, and we are ready to help you with off-season work.
In this month’s blogs, we will discuss why the summer is actually a great time to connect with your favorite bean counter.
The year is filled with a smorgasbord of compliance issues. If one knew what a tax accountant typically handles on a day to day basis, you would view them no less than a masked superhero.
Just to give you an idea of what typically takes place in our office, we listed out a few bullet points here:
Keeping updated on current tax law changes – such as the talk about tax reform coming from the White House
Advancing professional skills and enhancing technical knowledge in order to better focus on helping the client base
Communicating on important deadlines, changes in tax law that may affect our clients, and answering complex tax questions in an understandable manner
Filing different types of tax forms; from payroll to fiduciary or transfer taxes, there is no shortfall of the many different tax types a tax pro may need to masterfully handle
Budgeting and forecasting financial data for businesses and individuals
Representation and negotiations with the taxing authorities on behalf of the client
Staying ahead of the filing deadlines and keeping track of different calendars
Bookkeeping and financial statement preparation
Assisting with business or personal financial matters like mortgage or credit line loans
And much more: there is no shortage of duties, challenges, and problem solving to address
In PART 2 of this series we will include discussions on projecting taxable income, calculating tax implications when switching jobs, choosing or switching entity types, and taking advantage of various deductions.
In PART 3 we will go over estimated tax payments and avoiding tax penalties, scheduling estimated tax payments for the client, applying for or adjusting an existing installment payment plan with the taxing authorities, and planning for major life changes.
If these topics interest you, please stay tuned to our communications over the month of May.
Speak with Our Jacksonville, FL Small Business CPA About Accounting Services
Call (904) 330-1200 today to learn more about our offering of accounting services for individuals and businesses. As always, we are glad to answer any questions you might have.
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