How CPAs Help Your Business Outside of Tax Season

And Why Accounting Consultants Are the Key to Your Growth

 

When most people think about Certified Public Accountants (CPAs), tax prep and filing returns typically come to mind. While tax season is the busiest time of year for CPAs, a year-round, strategic partnership with your accountant can unlock new opportunities for your business’ growth and efficiency while keeping it compliant. 

Whether you’ve never worked with a CPA firm or only engage with one during tax season, this blog will walk through how CPAs support your operations beyond taxes, showing their value as trusted advisors. 

Why Do CPAs Make Good Partners? 

While some small business owners opt to handle their financials themselves or with an internal accountant or bookkeeper, CPAs can bring more to the table due to their extensive education and certification requirements. These credentials, highlighted below, showcase their deeper understanding of finance, tax law, and data analysis. 

Qualifications and Licensing 

CPAs undergo a comprehensive certification process, including passing the CPA Exam, meeting strict education and experience requirements, and fulfilling continuing professional education annually to maintain their license. 

Ethical Standards 

After candidates pass the CPA Exam, in many states they must pass the AICPA Ethics exam. They are bound by an ethical code enforced by state licensing boards, ensuring integrity and placing your interests at the forefront. 

Detail-Oriented Expertise 

Accounting oversights can cause inaccurate reporting, costly penalties, legal issues, and a slew of other consequences. CPAs possess an eye for detail that enables them to spot financial risks, identify tax savings opportunities, and ensure compliance, areas where others might miss critical insights. 

Ongoing Professional Development 

Financial regulations, tax laws, and accounting standards change frequently. In order for CPAs to renew their license, they must complete Continuing Professional Education (CPE) credits, which ensures they’re up to date with evolving policies and practices, as well as continue to develop their skills and specialized knowledge. This requirement provides their clients with the peace of mind that their financial partner can provide the most current and accurate guidance. 

Year-Round Accounting and Consulting Services 

Partnering with a professional accounting firm not only keeps your business compliant and reporting accurate but also boosts your reputation. It showcases your organization as a trustworthy and dependable partner that attracts and retains clients with confidence. 

Compliance 

Proactive Tax Planning 

Tax compliance means more than meeting filing deadlines. CPAs provide proactive tax planning to minimize your tax liability and maximize available tax credits and deductions. 

They help you navigate complex tax compliance challenges, including sales tax regulations that can vary widely by location and industry. By staying proactive year-round, CPAs ensure your federal tax returns, state tax returns, and sales tax filings are accurate and timely. 

According to a 2024 survey conducted by Adobe to determine how people feel about the upcoming tax season, 1 in 10 small business owners admit to feeling “overwhelmed and stressed” when it’s time to file, and 59% of small business owners weren’t familiar with any incentives or tax-cutting benefits for their industry. 

This know-how not only saves businesses money but also alleviates tension for business owners, making tax season feel a lot less daunting.  

Financial Management 

CPAs also go beyond filing taxes to deliver personalized support and timely financial data that inform smarter business decisions. They specialize in producing accurate financial statements, financial reporting, and financial statement preparation compliant with accounting standards such as GAAP. 

They help businesses maintain compliance by monitoring ever-changing tax regulations and coordinating payroll through trusted payroll tax return providers, ensuring accuracy and efficiency. 

Accounting and Bookkeeping 

Bookkeeping is the foundation of your business’s financial health, and CPAs add additional value to this service by not only being able to show you data and trends but also helping you to interpret it and understand it. They prepare up-to-date financial statements, income statements, and balance sheets, and they offer budgets, financial forecasts, and variance analysis to help you plan better and make sound strategic choices. 

In addition to bookkeeping, CPAs provide cash management and cash flow projections, helping you gain clearer visibility into your company’s financial position. This ensures your budgets and fiscal projections are realistic and actionable. 

Strategic Financial Advisory 

CPAs are strategic partners who help you improve your financial health beyond number crunching. According to an Intuit Survey, 98% of small business owners say their accountant boosts their confidence in their business, with another 9 out of 10 saying their accountant helps their business grow. Firms are able to do this through various strategies. 

Full-Time CFO Services and Quarterly Strategy Calls 

Many CPAs provide full-time CFO services, including reviewing your financial statements, cash flow management, budgeting, and business projections, to help you make informed growth decisions. 

Wealth Management and Succession Planning 

CPAs assist with estate plans, trusts consulting, and succession planning to ensure tax efficiency, business continuity, and legacy protection, integrating personal financial strategies with your business goals. 

Partnering with a CPA Firm 

Beyond financial expertise, CPAs build lasting relationships grounded in individualized support tailored uniquely to your business. Whether through custom service packages or regular check-ins, a strong CPA-client relationship ensures you receive reliable financial advice whenever you need it. 

Tailoring Solutions for Your Industry’s Unique Needs 

Every industry has unique regulations and requirements. CPAs who provide accounting consulting personalize their services to meet your sector’s specialty and specific needs while always keeping your business’s nuances and financial priorities top of mind. 

Leveraging Accounting Software 

Technology is a competitive advantage when correctly implemented. Today, CPAs serve as trusted advisors during accounting software selection, like QuickBooks® or Peachtree, and ERP implementation, helping your business deploy cloud accounting tools and automation systems tailored to your needs. 

Client Support and Clear Communication 

One of the most valuable, yet often overlooked, aspects of working with CPAs is the exceptional client support and service quality they provide.  This is done through responsive communication, meaning you won’t be left waiting for answers, and your questions about accounting rules, tax compliance, or financial strategy are addressed clearly and effectively. 

This high level of service includes transparent updates on audit workflows, adapting strategies to changing regulatory environments, and anticipating potential challenges before they impact your business. A CPA firm’s dedication to service quality transforms them from a vendor into a trusted extension of your team. 

Unlock the Value of Accounting Consulting Services 

The experienced CPAs at Cukierski & Associates provide businesses with comprehensive accounting and consulting services. With us as your trusted advisor, you gain personalized support, reliable financial advice, and the confidence to make informed decisions that drive growth. 

Ready to transform your business’s financial operations? Contact us today and discover new ways to keep your business moving forward.