Tax Strategist Vs CPA? Aren’t they the same? What’s the difference? We hear that question all the time. It’s all so confusing, right? All you want is to get your tax filed and possibly pay lesser taxes if you can, as long as you don’t get into trouble with the IRS. But, you know, taxes are the first expenses you must deal with as a business owner. So how do you know which tax professional best fits your business?
First, let’s look at the facets of being a tax Strategist Vs CPA.
CPA stands for certified public accountant. CPAs are licensed by the AICPA (American Institution of Certified Public Accountants) after completing their bachelor’s degree. A CPA can specialize in auditing, financial reporting, cost accounting, or tax. So, if someone is a CPA, it doesn’t mean they are skilled enough to help you with your tax challenges.
Since most new taxpayers and people with simple tax issues tend to turn to CPAs for help, you most likely won’t know if a CPA is skilled enough to handle specific tax issues if you can’t distinguish between a specialized tax CPA.
A CPA also provides other valuable financial services beyond helping you with your taxes. From monthly accounting support to seasonal support in your busiest season, auditing your accounts, and representing you before the IRS, a CPA can provide immense value to your business and finances.
Tax strategists, on the other hand, are CPAs as well. A tax strategist is a CPA who has studied how to predict the consequences of tax laws for investment and business decisions. For a tax strategist, working on taxes is an art that takes time to perfect.
A tax strategist specializes in tax laws and has ample experience to help you save money on taxes while remaining compliant with tax laws. Most importantly, a tax strategist has a federal license from the National Association of Enrolled Agents, which gives them the legal right to represent their clients before the IRS.
The major difference between a Tax Strategist Vs CPA is their capacity. While a tax CPA can help you when you run into tax problems, a tax strategist can lay out an array of tax loopholes legally to help you prevent running into tax problems in the first place.
However, low-quality tax experts are everywhere. There are CPAs vs tax strategists who are awful at their job and can only offer you tax returns full of errors. If you are a business owner and a real estate investor, you can’t afford to hire a half-baked Tax Strategist Vs CPA, who can’t help you make smart choices. Since real estate moves quickly, you need a tax expert that’s always ready to launch and implement effective tax strategies.
Whether your tax professional is a Tax Strategist Vs CPA, the most important thing you should know is if he’s well-versed in tax strategy. You don’t just want to pay huge taxes without considering the best ways to lower your taxes. This is why you need a tax professional with proactive tax planning experience to ensure you never lose out on your tax savings.
Why Should You Hire Tax Strategist Vs. CPA
Tax Strategist Vs CPA isn’t the same. Since most tax strategists are also CPAs, isn’t it better to have one that can do both? It’s the best way to ensure you get the best out of your tax plan. Whether you are a business owner, investor, or an employer who simply wants to save enough money in taxes to build a business empire, leave a legacy for his children or enjoy a tax-free retirement, a Tax strategist that is also a CPA is your best bet!
Here are a couple of reasons to hire a tax strategist that’s also a CPA
Stay Out Of Trouble With The IRS
If anything happens with your taxes, you’ll have to answer for it because it’s your name on the tax document. But when your tax strategist is also a CPA, you’ll have a well-informed tax expert with updated information at both state and federal levels. This will help you stay compliant with tax laws and protect you from costly mistakes that can get you into trouble with the IRS.
Lower Tax Bill
Using a tax preparer that’s also a CPA will make your tax season seamless and ensure that you save enough from your taxes and pay only what is necessary. In addition, you’ll also enjoy the service of a tax expert that focuses both on your current tax situation and plan for your future by looking through existing tax loopholes and how they can benefit you. You also get an in-depth tax review and enough tax education to help you with what you need to do to save money when you’re ready to file your taxes. Finally, a tax strategist will literally spend months with you to develop a life-long custom strategy that works for you.
Build A Wealth Management System
Having a tax expert that is both a CA and a tax strategist is like having two experts working for you; nothing can go wrong. The chances for mistakes are lesser, and your wealth management efforts are more effective. The more money your tax strategist can help you save from unnecessary taxes, the more funds to can access to build your wealth.
Take-Home
Whether you decide to use a CPA or a Tax strategist, the most important thing to consider is your needs. If you need a tax expert who can organize your income on a tax return, you can get a CPA. However, if your tax needs require customized tax reduction expertise, then you should work with a tax strategist, but if you want to get the best of both worlds, hire a tax expert who doubles as a CPA and a Tax strategist like Tax Goddess.
Ready to get the best of both worlds? Reach out to the Tax Goddess Team today!
