A certified public accountant or CPA is a trusted financial adviser that often helps small business owners and corporations manage their assets. However, working with an accounting firm can also be beneficial for your own personal means. Here are a few reasons to find a CPA in the area to manage your individual finances. 

How CPAs Help Individuals

1. File Taxes

Filing taxes every year can be a time-consuming and complicated practice, particularly if you have passive income like stock market investments or real estate holdings. CPAs have a sound understanding of the latest tax rules and regulations, so complex lists of expenses, revenue, and deductions are reported correctly.

2. Organize Business & Personal Finances

Launching your own business is an exciting milestone, especially if you are a sole proprietor. While being your own boss can be challenging, a CPA can help you keep track of the books. Since a sole proprietor is considered the same as the company, taxes are more complicated—business revenue and expenses are itemized as part of your personal filing. Fortunately, your CPA will simplify the process and help you understand where your money comes from and goes.

3. Plan for Retirement 

What do you envision for your golden years? Whether you want a house on the beach or early retirement, turn to a CPA for help. They can evaluate assets, project earning potential, and help you on the path to a long and enjoyable retirement. 

4. Represent You to the IRS

CPAs can operate on a client’s behalf when dealing with IRS officers in specific circumstances. Individuals can submit forms to the agency that grant their CPA permission to receive confidential financial information on their behalf. If you are incapacitated or out of the country for at least 60 days prior to the tax deadline, they have the legal authority to sign off on returns.

Looking for a knowledgeable CPA in Texarkana, TX, who can help you make sense of your individual assets, financial needs, or tax returns? Turn to the team at Erie & Associates, P.C. With a reputation for high-quality, personalized service that speaks to each individual's financial goals, you can count on this accounting firm for a wide range of services from tax filing to debt analysis. Call today at (903) 792-6651 to schedule an appointment, and visit their website to learn more about the work they do.