If you run a business, or even if you have complicated personal finances, then you might want to hire an accountant. However, you might not know the full extent of an accountant's role, capabilities, and responsibilities. To help you out, here's an introduction to the subject:

What is an accountant?

An accountant is anyone who is paid to handle financial information. However, you can't just hire anyone who calls themselves an accountant, since there is no real regulation or licensing involved with the term "accountant." What you are looking for is a CPA, which is a certified public accountant.

What is the different between a CPA and an accountant?

In the United States and other English-speaking countries, a CPA has passed several requirements and tests which make them qualified accountants. The exact requirements can vary from country to country and state to state, which means that some licenses do not transfer between different legal regions. However, if an individual is a CPA, then they probably know how to handle your finances.

This acts as a licensing system which ensures that scam artists and amateur accountants cannot pass themselves off as licensed professionals to unsuspecting victims.

So what exactly can a CPA do?

One of the most common services provided by a professional CPA, like William M. Kaneski, CPA, is help with taxes. Figuring out your taxes can be incredibly difficult, not to mention if you have a business to run as well. A CPA can save you a lot of money in deductions, and probably enough to justify the money used to hire the CPA.

Another service is estate planning, which covers what to do with your property and possessions once you have died. It is important for older individuals to have wills, since they save a lot of legal trouble and arguing for their children or family. For instance, if you want to divide up your estate easily, then you should plan out exactly which parts of your property will go to which individual. If you do not establish your estate before you die, then your property might be distributed according to level of relation, but it could be disputed in court.

Finally, accountants can help out with general financial planning, such as setting up budgets. If you run a business, then you will want to have a strong financial plan before proceeding. Otherwise, you might lose a lot of money, even when it seems like your business is profitable.

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