Do I need a different CPA for my business and personal finances?
There are many advantages to having your CPA doing the taxes for you personally along with the taxes for your business so it helps you get certain tax advantages that other people may not have. In addition, they will know the full range of your financial status and can advise you to make financial decisions that can benefit your future. For certain corporations like S-Corporations and LLCs, the results of business flow onto your personal tax return and affects your personal taxes. Therefore, having a CPA who is doing your business taxes and doing your personal taxes can see how the results of your business will affect your personal taxes and may make certain adjustments or be able to advise you better on either your business or your personal taxes so that hopefully it can lower your tax liability in the future.
It is also beneficial to have the same accountant conduct both your personal and business taxes and other financial matters because they can determine whether or not the decisions you make for your business can affect your personal finances and vice versa. It is always beneficial to have a certified public accountant that you know and trust to conduct your taxes and bookkeeping.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation.