Mallory Boudreau, CPA

Certified Public Accountants, or CPA’s, need to meet many requirements to earn certification. In addition to a college degree in accounting or a related field, CPA’s must pass a certification exam and work under an active CPA for a set number of hours.

Why choose an EA over a taxation attorney for resolving IRS disputes? Because an EA is not only more affordable than a taxation attorney, but an EA can offer a higher level of expertise for representing clients in a variety of IRS situations including appeals, tax proceedings and audit hearings.

One of the most important things to remember if you are facing a complex IRS tax audit is that hiring a tax professional to help you handle the audit is the best way to make sure your interests are represented properly.

If you find the federal tax code complex, confusing and anxiety inducing, you have lots of company. In a recent survey of small business owners, up to 42% found the complexity, changing regulations, inconsistencies and retroactive changes were burdensome.

One sign that it’s time to hire a tax accountant is if you are a partner in a business or a shareholder in an S corp and receive a K-1. While some K-1s are simple to include in a tax return, in most cases you will benefit from an expert’s oversight.

Although anyone can do the research to learn more about how to correctly complete their tax returns, it can be a time-consuming endeavor. When you’re short on time, we’re always happy to work as your tax time shortcut.

Whether you are going to want to accelerate or defer expenses in a given year is going to depend primarily on your business outlook. For instance, if you had a bad year but expect your profit to pick back up, then you’ll want to defer expenses so that you can take the deduction at that time.

It’s important to remember that not understanding the proper way to complete your tax return won’t earn you any leeway when dealing with the IRS. When you need a tax professional to help you get everything right, we’re always here for you.

Another tip for reducing audit risks? Be sure to explain any major changes in your tax filings from previous years - for example, significant deductions, medical expenses, new dependents and name changes backed up with documentation.

Should you encounter a tax issue with the Internal Revenue Service, you can turn to a Certified Public Accountant for help. Like attorneys, CPAs are authorized to represent a taxpayer during the IRS audit process.

In preparing your paperwork for your tax accountant, look back through your day planner or appointment calendar as part of your preparation effort. By doing so, you just might find new deductions or old deductible expenses to include.

The first certified public accountant in America was Frank Broaker. This honor was based on coincidence rather than achievement, since the first CPA certificates were issued in alphabetical order based on the accountant’s last name.

The IRS Restructuring and Reform Act of 1998 established a limited confidentiality between clients and EA accountants. This privilege applies to situations where the taxpayer is being represented in cases involving audits and collection matters.