Did you ever take a close look at your tax form and payroll statement only to end up scratching your head in utter confusion? When you find yourself confused, the immediate step that you would take is to rummage the internet to seek answers to all your financial questions. As you’ll get conflicting answers, this can become a fruitless and frustrating process. Did the thought of seeking help of an accountant come to your mind? If yes, this too could be possibly ignored as you may feel that the question is too silly or insignificant.
But hey, as long as your payroll taxes are concerned, you should keep aside all your apprehensions as there are huge benefits of speaking with an accountant or a CPA. Philip Stein and Associates is one such firm where you will get the best CPAs working in Israel and who are experienced in their jobs. Nevertheless, whichever CPA you may choose, check out the few reasons to speak to a CPA about your finances.
#1: You will know about financial wants and needs
When you meet with a CPA, you may take hours to discuss things and the reason behind this is that you get enough space for discussing your financial history with him. The better the CPA knows his clients; the better will be the quality of his job. Such is the case with an accountant as well. Whenever he knows the reason behind starting a business or buying a new car, he will be able to give you better advices.
#2: You’ll know whether you made the most out of your tax deductions
You must be wondering whether or not you made the most out of your tax deductions and this is something that a CPA can tell you. He must have given you a questionnaire to complete but apart from those questions, there are several other things on the Form 1040 which never get answered like what you would want for the near future. These can be addressed by the CPA.
#3: You get to know about corporate retirement plans
You can’t deny the several options which are best when considered before 31st December and in case these deadlines have been passed, you may still have plans. For instance, business owners and self-employed people who wish to contribute to an IRA, you have time till 15th April to deposit into the account. The limit of contribution is 25% of the compensation or $53,000, whichever is lesser in amount.
Therefore, if you’re someone who is still not sure about the reasons to seek help of a CPA, keep in mind the ones listed above. Get in touch with a professional CPA who has your best interests in mind.