is in the numbers.
Accounting is important for reasons well beyond reporting income and expenditure.
Your accounting system provides the initial assertion of the taxes you owe or the refunds you're due. It provides proof of every assertion made on the tax return. The IRS can only assess income tax with the filing of a tax return. The expert CPA will determine the array of assertions applicable to you - and prove it - with your accounting data.
An expert CPA will arrange your transactions so they become eligible for preferential treatment under the Internal Revenue Code. The tax code provides tax credits as well as employee benefits, such as pensions, child-care, medical expense and insurance. There is always an accounting requirement in order to use these benefits.
The expert CPA will interpret accounting data for management decisions. A poor accounting system is a clear sign of trouble ahead, where the absence of reliable accounting data disallows the ability to judge performance or the value of a business enterprise. Conversely, a good accounting system allows management and investors to discern the enterprise's true worth.
Investment is always predicated on the study of historical and projected accounting reports for valuation purposes. The valuation of an enterprise is calculated using the data provided by the accounting system within the business itself. As business owners constantly evaluate the potential value of their business using and comparing accounting reports, the expert CPA will structure the accounting system to achieve maximum valuation.
In each of those areas and beyond, there are financial obligations and opportunities.
At John C. Saunders, CPA P.C., we are expert CPA's that will find the opportunities, impact the obligations, and prove all the numbers so they work in your favor.