Jon Bos is a CERTIFIED PUBLIC ACCOUNTANT. Jon earned his CPA designation in 1993, giving him over 10 years of experience in the field of accounting. CPAs offer a wide range of assistance, including business financial, personal financial, and tax advisory services. Read on to find out how a CPA can assist you with your financial needs. Why Should I Hire a CPA? Why do you need a CPA? Certified Public Accountants (CPAs) act as advisors to individuals, businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial matters. Today, many individuals and businesses turn to CPAs for help with tax preparation, personal financial planning, auditing services and advice on developing effective accounting systems. What can a CPA do for you? CPAs are no longer just number crunchers and tax preparers, they are business and financial strategists who help chart the paths of businesses and individuals. Individuals turn to their CPAs for tax and financial planning services, investment advice, estate planning, and more. CPA vs. Non-CPA A CPA is someone who has passed the Uniform CPA Examination. Passing the exam in Texas allows an individual to use "CPA" after is or her name. This designation refers to professionalism and integrity. Many people do not know the difference between a CPA or Accountant and a bookkeeper or tax preparer. There is a vast difference. A CPA has passed a very difficult examination and is certified in the state. A tax preparer or bookkeeper is an individual who practices accouting, but has not passed the CPA exam. Some people will call themselves accountants, but are not licensed CPAs. This is a violation of the Public Accountanty Act of Texas. Although passing the exam allows an individual to use "CPA" following his or her name, it does not grant the right to provide attest services (audits and reviews). In order to provide these services, the indivdiual must obtain a license from the Texas State Board of Public Accountancy. To obtain a license, an individual needs a Texas CPA certificate and two years of work experience. To maintain the license, the CPA is required to complete 120 hours of Continuing Professional Education (CPE) every three years. The purpose of the CPE requirement is to ensure that the CPA maintains current levels of knowledge as it relates to CPA activity, as well as their area of expertise. This credit is obtained by attending classes, conferences or workshops from CPE sponsors who are registered with the Texas State Board of Public Accountancy. In order to get the most qualified and professional service, choose a CPA. What qualifications should you look for when choosing a CPA? It's important to establish a practitioner's credentials before you retain his or her services. You need to feel that this person has integrity and honesty before you will trust him or her with your financial information. Be aware that fee structures vary and that different types of practitioners have different levels of training and experience. Keep in mind that you are looking to establish a long-term relationship. You want someone who will learn your business inside and out, and who will become a trusted advisor on major business and financial decisions and transactions. Look not only for technical competence but also for interpersonal and communication skills. Defining your objectives and expectations will help you ask the kind of specific questions necessary for finding the CPA best suited to your needs. Think about the services you will need not just today but further down the road. How do I choose a CPA? Ask your lawyer, banker, insurance agent, or investment advisor for recommendations. Speak with colleagues in your field of business about CPAs they know and trust. Develop some of your own plans and objectives before your talk with a CPA. Gather information about business and personal financial decisions under consideration so you can ask specific questions. Make sure the CPA is licensed to practice in Texas. How can you get the most value from a CPA's service? When it comes to working with a CPA, you are in control. There are a variety of things you can do to get the most value out of your time and money spent with a CPA. Before you even contact a CPA, be prepared with your goals and objectives of what you want the CPA to do for you. Have a list of questions and a clear idea of what you want to accomplish. Before you meet with a CPA, gather all the documents and information you think you may need - past tax returns, financial statements, investment documents, business plans - and take this information with you to the first meeting. Keep your CPA up-to-date on what's happening in your life. Are you getting married, divorced, having children, needing to plan for your child's college education, expanding a business, or giving the business to an heir? You'd be surprised what life experiences can have a significant impact on your tax liability and personal financial goals. Jon Bos feels privileged to serve the Abilene community. He strives to meet the community's need for a qualified and experienced CPA. Jon works with families to achieve long-term financial security and provide a lasting family legacy. Jon will work with you to develop a detailed game plan for reaching your goals and avoiding financial ruin. Nobody will care more about protecting your family or be more committed to serving you for the long haul. We hope the information we have provided will help you in your search for the right Certified Public Accountant. Jon Bos Financial Advisor 401 Pines St., Ste. 203 Abilene, Texas 79601 (325) 677-8288 Email: Jon@JonBos.com Information provided by the Texas Society of CPAs