ARRINGTON SOLUTIONS
Tax & Accounting
Helping small businesses & social media influencers get (and keep) those coins in check.
FREQUENTLY ASKED QUESTIONS
We get it. Accounting work can be daunting, but we’re here for you!
We have the answers to your most asked questions.
Does Arrington Solutions use any accounting software other than QuickBooks?
No, and for a good reason. To ensure that we’re offering the most efficient accounting services, we’ve chosen to work solely with one accounting software: QuickBooks.
Can you help if I want to manage my accounting in-house but need a little guidance from a professional?
We sure can! Our accountants will provide QuickBooks training and consult with you on how to manage your accounting. We strongly recommend a consultation to determine if this is the right move for your business.
I've been in business for some now, but I still don't have an accounting management system in place. Can you help with this?
We’d love to! You’ll need to schedule a consultation to assess your accounting management needs and suggest your business’s best solution.
How do I know I need an accountant?
We believe that it’s a best practice for every business to have an accountant who, at a minimum, assists with tax planning and preparation. A common mistake that business owners make is waiting too long to hire an accountant, which often hurts a company's bottom line. If your company has shown increasing revenues, but profits remain stagnant, you need an accountant. And if you don’t know your business's revenues and profits, we need to talk!
Does a CPA give financial advice?
Yes! CPAs give financial planning advice specifically in budgeting, forecasting, and other complex financial matters. Financial planning can be broad in scope and can cover areas outside the CPAs area of expertise. While CPAs are also personal financial specialists and can give investment advice with confidence, not all CPAs can provide this type of financial planning. It’s best to defer to a certified financial planner, chartered financial analyst, or a personal financial specialist for investment portfolio advice.
Is every tax preparer a CPA?
Absolutely not! Many paid tax preparers aren’t accountants and don’t hold any distinguishing credentials. Essentially, anyone can become a paid tax preparer, as barriers to entry are low. However, only attorneys, enrolled agents (EAs), and certified public accountants (CPAs) can represent their clients before the IRS. CPAs have unlimited representation rights before the IRS.
I’ve been using an accounting management system, but now I’m looking to switch to something more robust. Can you help with this?
Yes! Our accountants will perform accounting diagnostics to assess your accounting management system’s current state and suggest the next steps.
I haven’t filed my taxes in a few years. Where should I start?
Well, it all begins with a consultation! We’ll determine what tax filings are required and the next course of action needed during our time together. Don’t worry; our accountants will work with you to help you get up to date on your tax filings with the IRS.
What is a CPA, and what makes them different from a bookkeeper?
A CPA is a certified public accountant licensed by their state board of accountancy to practice accounting. All CPA candidates must meet rigorous education requirements, including 4-5 years at a college or university. CPAs are required to pass the uniform CPA exam and meet professional experience requirements before earning their certification. CPA licensure is one of the most highly sought-after credentials in the accounting world. While there are bookkeepers who are also accountants, an accounting background is not required to become a bookkeeping professional. Bookkeepers maintain accounting records but may have limited accounting knowledge.