Every year, people start assembling their documents to complete and file their taxes. Although a lot of people have the ability to prepare their own taxes, but those who own a business along with valuable assets and investments need to opt for professional services for tax preparation in St. Cloud, FL. Since there are many types of tax preparation services; therefore, they require different tax planning professionals like CPAs, tax attorneys and enrolled agents.
So what is the difference between these different tax preparation in St. Cloud, FL? And for whom their services are beneficial? Read on to find out.
Attorneys have the option of choosing between different specializations in law just like engineers and doctors. Tax attorneys assist their clients in drawing up paper work for corporate tax measures, setting up tax shelters, settling tax disputes and more. A tax attorney acts as a retainer for large organizations, as they have perquisite knowledge regarding tax codes and can guide them to how to invest and where deductions can be made in the expenses to avoid excess taxes.
A reliable channel is local Bar Association, where you can find whether tax attorney you are planning to hire is well qualified and experienced or not.
Certified Public Accountant (CPA)
There are certified personnel as well who are capable enough to handle tax preparation in St. Cloud, FL, among which CPAs are the most common. A CPA has to attend a secondary school and attain an accounting degree. They have to take education classes on annual bases for re-certification of their degree.
CPAs do not only prepare taxes, but also they provide businesses with financial and tax planning suggestions. CPAs often provide their tax preparation services through part-time, full-time and freelancing, depending upon the organization and nature of their work. Large corporations demand full-time CPA professionals where they work as retainers as well as tax preparers, while some businesses outsource their tax preparation to freelancing CPAs.
Enrolled agents are different from tax attorneys and CPAs, due to the different in their training and scope in job industry. Enrolled agents are certified directly by IRS who represent on behalf of taxpayers. Although they do not study fixed training courses, but they do have to clear a certification exam and take education classes for re-certification in order to do tax preparation in St. Cloud, FL.
An EA specializes in advising taxpayers in investigations, audits and tax preparation in St. Cloud, FL. Unlike other tax preparers, they are the only ones who have client privacy obligations. An enrolled agent is also the only tax preparer who is designated as taxpayer representative by the federal government.
Other Areas of Expertise
Certified Public Accountants are all-rounders. Their certification exam comprise of 1000 question from which about a quarter part is on taxes. Most accountants choose to work on accounting practices and only handle tax preparation in St. Cloud, FL cases in tax seasons. On the other hand, enrolled agents only specialize in tax related services. Their exam does not include accounting and business principles; it is solely based on tax code.
If you need more information about our Saint Cloud, FL accounting and tax services, please contact us at 407-344-1012. 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.