CPA St. Cloud, FL – 5 Questions You Should Be Asking Your CPA

CPA St. Cloud, FL clients have reported that in their experience has told you to ask never-ending questions before hiring the services of an CPA St. Cloud, FL for your business. As good as that habit is, that is just the beginning. If you want to know that you have not been “under using” this resource (especially if it’s coming at a ‘fixed fee’), that you actually have reasons to support that feeling of elation at the year-end, you have to sit down with a CPA St. Cloud, FLand grab the opportunity to get some valuable business advice during that review.

So, what is it that you should be prodding them about?

CPA St. Cloud, FL Talk About Capital Gains and Losses for the New Year

This is a useful question since it helps you evaluate your potential investments based on your tax position. So, suppose you are currently on a the lower tier and are in possession of profits, your CPA St. Cloud, FL will probably advise you on how to sell your investments that have been able to perform well. Following that, you will be able to enjoy low taxes on its earnings.

Secondly, discuss with your CPA St. Cloud, FL to ensure that any purchase you make is not going to affect the cash flow for other costs like that of payroll and marketing. It is generally advised that you purchase the assets that can bring a return on that investment or you’ll not be able to provide for your business growth. It will simply be funding tax deductions.

CPA St. Cloud, FL Talk about Your Charitable Contributions

If you are in a lower tax bracket, there is no point in discussing this topic. In fact, it would be prudent if you push that feat to next month. On the other hand, if you have been blessed with a higher income this year, you can work out means to allocate more funds for charitable deductions to get yourself back in the lower bracket and avail the last minute tax incentives.

CPA St. Cloud, FL Talk about Your Income Plan

Again, the tax brackets have a major influence why you may want to be working hard to accelerate or defer income. If you are likely to fall in the higher end next year, try to bring in more income now only. Ask clients to pay, get those bonuses, and don’t delay using those nonqualified stock options.

CPA St. Cloud, FL Talk about Renewal of Business Insurance

Check with your CPA St. Cloud, FL to assess insurance policies. A renewal is not suitable always because a lot can change, both from the perspective of the market and for your business, that would affect the amount and even the type of insurance you buy. The right insurance coverage would be properly aligned with the business needs and you would not have to worry about losing your business from misfortunes such as thefts and lawsuits.

Happy Advice!

Finally, you must be cordial with your accountants as you review your accounts and new developments. A CPA St. Cloud, FLusually encourages open-ended questions from clients like if they have missed out asking about something. This way while they have been satisfying your queries, they can also pitch in some information that they believe is important from a financial perspective. Instead of ignoring it, ask for recommendations to implement them in the following year.

If you need more information about our St. Cloud, FL accounting and tax services, please contact us at 407-502-2400. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin number, incorporations, and non profit 501c3 tax exempt. (Freedomtax’s accounting and tax professionals are NOT CPA’s. CPA services provided by third party provider.)