What do CPAs Do on Maui

October 17, 2018

Have you ever wondered what do CPAs do on Maui?

Certified Public Accountants are trusted financial advisers who have completed the minimum education requirements necessary to offer a top notch service. As opposed to an accountant, CPAs need to pass a rigorous four part exam and follow a certain code of ethics.

Hiring a certified public accountant for your business is recommended, as they can do much more for you business compared to an accountant. But how much do you know about what do CPAs do on Maui and why should you hire one when you start a new business?

A CPA is engaged in a number of important roles for the client. If you’d like to learn more about what do CPAs do for a company, take a look at the short list below.

Maui CPA Services

What do CPAs do on Maui?

Tax services

Preparing and filing federal, state, and local tax returns is part of a CPA’s job description. In fact, tax services represent a major service area for certified public accountants.

Just like accountants, CPAs make sure that your tax returns are filed correctly and are paid on time. Furthermore, working with business owners and individuals in order to maximize deductions is part of a CPA job description.

Company audits

If you’re wondering what do CPAs do in Maui, you should know that audits and assurance services are part of their main job description.

Auditing the books of the client is an important task for a public accountant. There are certain evaluation criteria the CPA must consider and, if everything meets the evaluation requirements, the CPA will then issue formal statement concerning the client’s financial records.

Financial statement reviews are similar to audits and, although they are not as thorough, business owners often prefer them because they are less expensive.

Consulting services for businesses

Offering advice on strategic business options or advising a client on certain aspects of their business are part of a CPA’s job description.

Forensic accounting

Although not all CPAs specialize in this department, some certified public accountants offer forensic accounting services for their clients. A CPA qualified to offer this type of service will reconstruct financial records that were previously destroyed and investigate any corrupt activities that might have occurred.

Financial advice

Overseeing a company’s budget and auditing the financial records gives a CPA the power to offer financial advice to company owners.

The services of a CPA include providing assistance and managing a company’s daily activities. This means a public accountant has the means to provide the best strategic and long term planning advice that regards budgeting, financial planning, cash management and more. Furthermore, it is not uncommon for CPAs to offer investment guidance and even advise on estate planning.

IRS client representation

Do you know what do CPAs do on Maui that other accountants cannot?

Hiring a CPA for your business means you’ll benefit from IRS representation services. In case you get audited by the Internal Revenue Service, you can take advantage of having a professional represent you in front of the IRS.