Almost all individuals and businesses need professional financial help to expand their scope of filing tax returns on time. The right way to go about it is to settle down with professional Certified Public Accountants (CPA) and Enrolled Agents (EA) who can give your business the edge it deserves.
Do not get baffled up with the acronyms, for they are just acronyms. The difference between an EA and a CPA is that an EA is a tax specialist who either qualifies an EA exam or has over five years of work experience with the IRS. On the other hand, a CPA qualifies for the CPA exam and holds the accounting work experience of about a year under the supervision of an active CPA.
The similarity between them both is that they are licensed!
When to hire tax help?
Unless you are triggered by a tug of tax and accounting, you will find it difficult to decide on hiring a tax professional for your business. But it’s better to be prepared before it’s too late.
Jump in on some brief facts that would ease the hiring process with legit reasons backing the benefits of tax experts in India.
Professionals must always be capable of solving the toughest crosswords of your business. As communication is the key, you are responsible for carrying out one-to-one with an expert to decide on whether they can settle accounts during the upscaling as well as during crisis.
CPAs with an EA certification are eligible for operating taxation, accounting, financial services, tax prepping, and resolutions. To further add to it, taxes fall under the law, and accounting is all about numbers.
You would think if both the professionals have just a designation difference, why would you expect the two specializations in one person?
While the question of why not hire both a CPA and EA might not appeal you at this point. But, an answer on why you should hire a CPA professional with EA certification may work well when you want a professional who can play well on both fronts.
Fair enough? Let’s proceed.
Why do you need to hire a CPA with EA qualifications?
A CPA is licensed by their state of practice, whereas an EA gets an unlimited license to function by the Federal Government.
A CPA would mend money matters and focus on financial planning while an EA will help you in resolving an IRS dispute, tax proceedings, audit hearings, and appeals.
Not only this, EAs take care that the IRS treats their clients fairly by adhering to the fundamental laws that protect taxpayers. On the other hand, CPAs play the role of advisors and accounting consultants for public firms of all sizes.
Instead of juggling between a CPA and an EA, opt for what is feasible and right for your business and requirements. It’s advisable to connect the dots of both accounting and taxation by bringing both professionals onboard. You can also hire a CPA with an EA certification if you only have the budget for one professional.
Benefits of Hiring a CPA with EA certification:
You will have the perks of hiring a CPA with an enrolled agent certification. Read below to understand how:
1. CPAs with EA certification can handle both taxation and accounting with expertise in accounting, auditing, and tax filing services, followed by tax preparation and tax resolution expertise.
2. The combination of knowing numbers and laws can save you time and stress. Also, CPAs with EA do not face geographical bars, for they can practice anywhere and represent you for an audit in any state in the US.
3. With immense knowledge and expertise in complex federal tax codes, managing accounting and financial crisis, tax advisory, and filing needs, EA certified CPAs excel in alleviating your company from fines and audit risks.
4. With abilities to represent a client before the IRS, a CPA with a specialized EA certification can represent you in appeals, audits, and collections with synchronized knowledge in calculations, financial advice, and bookkeeping as well.
With all the benefits conveyed above, you must have got a summed-up probability of win-win situations at any point of the financial crisis when you hire an EA certified accountant. If you hire tax preparation experts in India with an EA specialization, then you are going to reap maximum perks. Get ready to bring your accounts under the expert application!