Finest City Tax, Accounting, and Small Business Services

California...https://acatimes.com/get-to-know-the-acas-statewide-indivi/

Hire a Tax Preparer / Bookkeeper, Enrolled Agent, CPA, or Tax Attorney? Here is something you may not know: anyone can prepare your taxes and / or manage your bookkeeping / payroll! There are no education requirements, and all you need is a PTIN - Preparer Tax Identification Number from the IRS. Here is a good way to know who to hire for your tax and accounting needs: 1-Hire a Tax Preparer / Bookkeeper if you have a low budget and your 1040 will be simple as an individual, or... if you have a very small mom and pop shop as your business. There is no need to pay thousands of dollars to hire an enrolled agent, a CPA or tax attorney when you have such a simple structure. 2-Hire an Enrolled Agent (EA) if you have a low-to-medium budget and you have a somewhat complex income and investment structure as an individual, or you are a small business with multiple needs e.g., bookkeeping, payroll, new business setup, general small business needs, etc. Enrolled agents are specifically qualified to practice before the IRS for clients across the US. They must pass 3 exams: Individuals; Businesses; and Representation. The exams are easier than the CPA exams, which are some of the hardest exams out there! There is no formal education to become an enrolled agent. One can be a high school graduate and become an EA. 3-Hire a licensed CPA if you have a decent budget for your tax and accounting needs. CPAs are well educated, as they must complete 150 college credits with accounting, tax, business, and audit courses as requirements. They must also work under a licensed CPA for 1 or 2 years depending on the state in which they live. They don’t just specialize in tax, but must also be proficient in general financial accounting / reporting, audit, and general business concepts. They can manage complex accounting and tax needs, but only in the state in which they are licensed to practice - e.g., California. A CPA is much more qualified to handle your small business needs than an EA. 4-Hire a Tax Attorney if you have complex tax issues and need assistance with tax debt relief (e.g., you owe back taxes), liens or levies, and other difficult problems where you require representation before the IRS or in court. Only tax attorneys are qualified to handle such adversarial proceedings. A CPA cannot even help with such complex legal matters, as they don’t know the law as well.