A Certified Public Accountant, commonly referred to by individuals as ‘a tax guy’, is a trusted professional financial consultant that is required to adhere to high standards, continuous education, and a strict code of ethics. CPAs provide services to individuals, married couples, and businesses of all sizes.

CPAs help individuals and married couples file income tax returns, income and cash flow planning, charitable contribution strategies, trusts, estates, personal insurances, and retirement planning.

CPAs play many different roles for businesses depending on its size and needs. These services include but are not limited to:

• Auditing
• Tax Planning
• Tax Filings
• Financial Statements Preparation
• Bookkeeping
• Payroll

TurboTax is software for preparing income tax returns. This software makes it possible for individuals with little to no accounting experience to file their own tax returns.

A CPA vs TurboTax is an improper comparison. The proper comparison is, is it better to file your taxes yourself, or to have a professional accountant with experience with tax law compliance prepare and file your tax returns for you? We have found that it is almost always better to have an experienced tax professional file on your behalf. TurboTax is great, in fact it is so great that many accountants use it to file tax returns, but they do so with the knowledge of the limitations and boundaries of the law, ensuring that you are taking advantage of every opportunity and maximizing your deductions.

Tax Deductions are usually certain kinds of expenses incurred by a person, company, or organization that are eligible to lower tax liability. Deductions are subtracted from gross income, effectively lowering how much tax is owed. Types of deductions and their limits vary by circumstances, including but not limited to profession, entity type, total gross income, and household size. Understanding these different circumstances, how they play a role in deduction availability and applying them is one of the primary roles that a CPA plays in preparing and filing income tax returns.