Can’t I just do my own book keeping and file my own taxes?
Sure you can but do you really think that’s wise?
If you run a successful business, chances are that somewhere along the way your taxes are going to get more complicated than you expected. You probably have your hands full running your business and don’t have time to study changes to tax law every year. Leave that to the professionals.
Can’t I just hire an accountant?
Again, maybe, but consider this:
In some states, there are no restrictions on who can call themselves an accountant. A high-school graduate could hang their proverbial shingle out and start taking on accounting clients. That is not meant to disparage all “accountants”, but to point out that the title alone is self appointed.
The title of CPA or Certified Public Accountant requires rigorous training and a state test with ongoing tests to continue certification. By choosing a certified professional, you have the assurance that they have taken and passed the state run test.
If the IRS decides to audit you, there is very little an accountant can do for you, but the CPA can deal with the IRS on your behalf.
This article is just a quick primer, check out Does my small business need a CPA?