CPAs vs. accountants and bookkeepers in Nashville: A quick review

As someone in charge of a small business in Nashville, you may have to juggle roles and find better ways to make profits. Accounting and taxes remain the crux of your business’s financial health, and if you don’t have a team with adequate experience or expertise, outsourcing is a good option. Should you choose a CPA in Nashville, TN? Or is it better to hire an accountant? The roles and job descriptions may seem similar, but there are stark differences. In this post, we review the critical details.

Knowing CPAs

A Certified Public Accountant (CPA) is a professional who has completed the necessary licensure requirements and passed the CPA Exam. They are expected to have a bachelor’s degree with at least 150 credits. CPAs are specialists in handling tasks like tax planning and preparation, bookkeeping, business formation, business planning, and much more. They can also manage all tax-related tasks and represent your company before the IRS in case of an issue. They can also find ways to maximize tax savings and handle complicated tax concerns.

Knowing accountants

Accountants, on the contrary, usually have a bachelor’s degree in accounting and may have additional certifications. While they can do tasks like bookkeeping and preparation of financial documents, their expertise doesn’t extend to tax matters in most cases. Bookkeepers are experts at recording and maintaining records, and they don’t have the expertise or experience of a CPA or an accountant. They are still relevant for ensuring accuracy in financial books, but they don’t do all things like a CPA.

Hiring a CPA

If you are new to engaging a CPA in Nashville, we recommend checking online listings. Hiring a CPA is always better than having an accountant, as they can do a lot more. Because they often deal with complicated compliance and tax matters, they are more versatile and proficient. Please make a list of local firms in the city and ensure they have experience in your sector. You should also schedule meetings and review if the CPA is communicative and has a client-centric approach. They should listen to your concerns and offer tailored solutions and services that can address the diverse needs of your small business.

In conclusion, there is no denying that a CPA is a better option for small businesses compared to accountants and bookkeepers. For larger companies, all professionals may have a role, but there are certain things that only a CPA can do.

Back to top button