Accounting can be tricky. Even though doing accounting work can be difficult, many people believe they don’t need a Certified Public Accountant (CPA) to help them do things correctly. If you’re one of those people, you may be able to relate with the 4 reasons listed below as to why you don’t need a CPA.
1. You Were the Mathletes’ MVP
If you’re a math whiz and an equation master, you may think you don’t need a CPA. QUICK! What is $7,689/324? Did you get it? Even if you did, finding the time and focus to check and double check your equations is time that could be spent growing your business, playing with your kids, or just enjoying some hard-earned relaxation! If not, maybe it’s time to hang up your good old tax calculator and let a CPA take a stab at it. A CPA can help you figure out the correct equations to use to properly calculate your taxes so you don’t make a mistake that could cost you money and even more time away from the things you love.
2. A Penny SPENT is a Penny Earned
If you really love working and never want to retire, stop reading! On the contrary, if you want to be prepared for your kids’ future, that lake house you’ve been planning to retire to, or your next big purchase, you may want to consider a CPA. They can help to set up the correct accounts in order for you to maximize your savings and put you and your family in a better place financially no matter what the future holds.
3. Your Credit Card Debt Makes Your Wallet Thick
If your debt helps you to remember the great times you had in college and keeps you from buying too many new things, you may not need a CPA. I mean who wants a cluttered house? If you’re tired of feeling like you can never get ahead, a CPA may be what you need! There are many options a CPA can provide, such as creating a custom plan based on your current life stage to help reduce your debt and get you on the right path to a better credit score.
4. The IRS Doesn’t Scare You
Take the right classes in college? Maybe you’ve done your research, or accounting and organization just comes natural to you. If you aren’t “naturally gifted,” hiring a CPA for your taxes can be a worthwhile investment. In your younger years, there is less to deduct, but as an adult your taxes can become a lot more involved from large deductions such as your mortgage to smaller items such as charity deductions and car registration fees. By hiring a CPA, you can rest assured that you will be getting the maximize return and minimize your risk of being audited.
There are many reasons you may not need a CPA, but in most cases – if there is money on the table, a CPA can be a great investment. The Certified Public Accountants at Great Lakes Accounting can help you make the most of your money.