When tax season rolls around, there are many professionals you can turn to for assistance. Their guidance makes all the difference, helping you deal with all matters concerning the IRS and ensuring you file your taxes efficiently.
Knowing which tax professional to go to makes all the difference. There are two positions that many people use interchangeably: Tax accountants and CPAs. While they can assist you with tax-related issues, key differences exist between an NYC tax accountant and a CPA.
What's a CPA?
CPA stands for certified public accountant. These professionals are certified and licensed to provide a wide range of services. They can provide business advice, perform complex accounting tasks, etc.
To become a CPA, accountants must pass stringent certification and licensing processes set by the state. To qualify for certification, professionals must meet certain education requirements and have a specific number of years of experience as a public accountant. That's before they can take the certification exams.
Once an accountant becomes a CPA, they're qualified to take on more complex accounting tasks. That includes offering fiduciary services, business consulting and defending tax returns.
All CPAs are accountants, but not all accountants are CPAs. You can look at CPAs as professionals who go through additional certifications to offer clients a broader range of services.
What's a Tax Accountant
Tax accountants don't need additional certifications to provide tax advice. There are no uniform exams or educational requirements. However, an NYC tax accountant must still have the proper degree to enter this field. Many surpass a Bachelor's degree, pursuing higher degrees to gain specialized experience in different facets of accounting and taxation.
The primary difference between a tax accountant and a CPA is that certification. Tax accountants can't provide certain services that require licensing. But that doesn't mean they can't assist you with tax preparation.
Many accountants focus exclusively on taxation, using their expertise to provide exceptional services. CPAs and tax accountants know how to help people prepare and file taxes. They can answer your questions and help you make the most out of deductions and credits.
Author Resource:-
Mark writes often about tax and estate planning. His articles may include topics like tax planning, estate planning, business accounting or any other tax service to help the people in needs. You can find his thoughts at business accounting blog.