A CPA Can Help Plan Your Financial Future

When you think about a certified public accountant, you probably imagine contacting someone when it's time to finalize and submit your taxes. But many CPAs can do far more for you than just help you pay off the tax man. Some CPAs offer financial advice that could be beneficial to you during a specific time in your life or they could help you put the documentation together that you need for a major financial transaction. Here are just some of the reasons why you might want to look into hiring a local CPA.

Be Proactive About Saving on Taxes

If you are only thinking about your taxes once per year in the spring right before the filing deadline, you're doing it wrong. It may be possible to reduce your tax bill during filing season by being more aware of the financial decisions you make throughout the rest of the year. A good CPA could show you how to structure your business in a way that is beneficial or could help you come up with a plan to better track your personal and business expenses. 

Once your CPA gets to know you, they may be able to offer additional advice for how you can earn additional tax credits or deductions when the next tax season rolls around. You could also file taxes quarterly if that would be beneficial to your business and help you save money or just stay on top of things.

Figure Out Your Retirement Distributions

Are you nearing the end of your time in the workforce? If you have a nice nest egg saved up but aren't sure about how to start withdrawing it, a CPA might be able to help. Coming up with a plan for your retirement distributions will help provide you with peace of mind as you move forward to the next phase of your life.

Secure a Mortgage With Professional Documentation

Are you about to apply for a mortgage for the first time? Do you need to provide proof of income or financial standing for some other purpose? While you may be able to print out your own bank statements, staple them all together and hand them to someone, a CPA can help you put together professional-looking documentation that will impress. Imagine being able to hand over an in-depth report on every aspect of your financial life that will be sure to impress your potential lender or deal partner. Going the extra mile with a professional presentation could be the difference in getting the loan or completing the deal.

To learn more, contact a CPA firm in your area.