Philadelphia, PA -- (SBWIRE) -- 01/07/2019 -- The arrival of the new year presents much more than a chance to plan for the future and look back on the previous year. It also marks the beginning of tax season, and for businesses, this time of the year can offer many challenges and issues for them, and their taxes. As the premier financial consultants in Philadelphia, Brennan and Company CPA, PC explains why these small and medium-sized businesses need professional tax preparation services this season.
While many businesses have an accountant who can follow the rules and regulations set up by the Financial Accounting and Standards Board (FASB), they are not licensed CPAs and can lack the expertise that CPAs possess.
For instance, CPAs must undergo a rigorous testing process to be licensed by their state. This typically includes several days of examinations which cover a multitude of tax laws and codes, as well as other financial aspects. Additionally, CPAs must undergo continuing education to stay up-to-date on new tax laws. By comparison, accountants do not have to adhere to these standards.
The tax codes and laws for businesses can sometimes be complicated. A CPA is fully equipped to deal with these codes, and even are classified by the IRS as "enrolled agents." While an accountant can sign and prepare tax forms, they don't share this distinction, and they have only a limited ability to represent clients to the IRS.
One crucial aspect of tax season, and many businesses' worst nightmare, is how to handle themselves in the event of an audit. By hiring a CPA, a business owner can rest assured that professional has the full ability to make claims on behalf of the business and provide the representation they deserve.
To schedule a consultation for tax preparation with a CPA from Brennan and Company CPA, PC or for financial consulting services in Philadelphia, please call 215-951-5585 or visit http://brennantax.com/ today.
About Brennan and Company CPA, PC
Providing accounting, attestation, and tax services for small businesses through Southeastern Pennsylvania since 1996, Brennan and Company CPA, PC is committed to helping clients effectively manage their finances. With a risk-averse approach to financial decisions, the company offers responsible tax guidance and direction, all with a dedication to integrity, security, and privacy.
For more information on Brennan and Company CPA, PC, please visit http://brennanandcompanycpa.com/.