Business owners and other industry professionals are adapting and adjusting to the new normal, as states slowly begin to lift measures enacted to curve the spread of COVID-19. The CPA profession is not exempt from this adjustment, and as a result, have experienced an evolution during these uncertain times. CPA’s are now championing the fiscal effects of the pandemic offering advisory services beyond the cusp of bookkeeping and tax preparation.
While normality is slowly percolating throughout the US, the fact of the matter is COVID-19 driven client needs will not diminish alongside of federal and state mandates. Keeping businesses afloat and preserving jobs will continue to be the primary relief effort of CPA’s. Their expert advice is largely sought as small and large business owners alike come to grips with the reality of the impacts due to COVID-19.
“CPA’s are now championing the fiscal
effects of pandemic offering advisory
services beyond the cusp of bookkeeping
and tax preparation.”
Accountants are able to provide a wealth of knowledge educating their clients of the details and fine print associated with several federal loans and grants, including the Payroll Protection Program (PPP). Clients are consulting with their accountants with questions heavily centered around the application process as a whole, including what loans or grants are offered, who qualifies, deadlines to apply and potential tax ramifications.
CPA’s offer further insight relative to other potential low interest rate loans available and a multitude of federal, state and local assistance offered for those most impacted by COVID-19. For many businesses, real opportunity could have been lost without the resourcefulness of their accountant, primarily due to lack of knowledge or missed deadlines. CPA’s are leading the recovery relief efforts by helping clients navigate the financial impacts of the crisis.
Accountants are not without their own set of unique circumstances as business continuity is a threat even to well established firms. Recovery relief within these professional organizations are a major part of the evolution occurring in the field of accounting. The health and safety of clients and staff is top priority and realizing the depths of state mandates heavily increases online collaboration. Streamlining cloud optimization, remote processes and online efforts fine tune the interactive virtual client services experience many of our clients have become most familiar with in the last months.
“CPA’s are leading the recovery relief
efforts by helping clients navigate the
financial impacts of the crisis.”
At Senter, CPA, we realize that a strong commitment to communication and service will help build for the future. While client needs have changed rapidly in a very short amount of time, our commitment to resourcefulness and service have not. Don’t hesitate to contact us by clicking HERE or call us at (248) 934-0550 if you would like to learn more about the services we offer. We are here and we are ready to help.
This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.