Certified Public Accountant (CPA) is an accounting professional who has met state licensing requirements to earn the CPA designation through educational training, experience and passing the CPA exam. The CPA is not a career path or job title, but a professional designation that can allow accounting professionals more flexibility and mobility in their career. They are sought out for their reliability, industry knowledge, and credentials.

CPAs work in many different industries. Some companies hire CPAs to help with business reporting, tax service, payroll, bookkeeping, and financial planning. There are many other ways a CPA can help businesses, they act as consultants to help companies plan for growth and development. They can also advise clients on how to manage risk and protect assets. Finally, CPAs often serve as advisors to CEOs and senior management teams.

All Certified Public Accountants are accountants, but not all accountants are CPAs. An accountant is any person who keeps and interprets financial records. So, what is a CPA? CPAs are not limited to one industry, or even one job function. In addition to keeping and interpreting financial records, CPAs are able to perform other services as a result of the knowledge gained in exam preparation and continuing professional education (CPE) requirements. Unlike accountants, CPAs require much more education, extensive knowledge, and rigorous testing. Acquiring your certified public accountant license takes time, patience and planning. Being a CPA also takes a commitment to continuing education even after earning your CPA designation. CPAs are often required to complete 40 hours of continuing professional education (CPE) each year, depending on state board requirements. Due to the difficulty of passing the CPA Exam, as well as the commitment to continuing education, many in the finance and accounting fields consider the CPA license one of the most prestigious CPA/accounting designations a professional can earn.

These accounting professionals provide a range of services to various kinds of organizations. These include public accounting firms for nonprofit organizations, government agencies, large corporations, small businesses, family offices, or individuals. They assist with tax planning, bookkeeping, preparing financial statements, and financial planning.

We will always put your interests first, ahead of our own. We act in the best interest of our clients at all times and will never recommend a plan unless we fully understand your needs and goals. We take the time necessary to thoroughly research all of our options before recommending anything and will not recommend any product or service if there is a conflict of interest. We provide full and fair disclosures of all fees and costs and operate with complete transparency. To learn more about us, click here!

When it comes to working with clients, we prioritize making the experience as transparent and seamless as possible. Since we serve a wide variety of individuals and businesses, we keep our lines of communication open and flexible to better serve our clients and schedules.

That's right! We are not only a Certified Public Accounting Firm with licensed CPA’s, but also have a Certified Financial Planner on staff as well. To learn more about our credentials, expertise, and certifications, click here.

Our team of CPAs, CFPs, and accountants specialize in many different areas of taxation. Including but not limited to Business, Individual, Not for profit, and International taxation.

In regard to confidential documents and financial information, to maintain privacy and we utilize mutually accessible cloud-based software.

Financial planning is about helping you plan your finances and create an effective strategy to meet your needs and goals. It includes advice on what to save for, when to start saving and how to invest wisely. Financial planning also helps you manage your capital better, including tax preparation, budgeting, and insurance. You will get personalized advice and guidance from a professional, and you'll feel confident knowing you're on the right track.

A CPA can offer guidance on tax preparation, bookkeeping, and other aspects of running a small business. Since tax services are the area of expertise, they can help with filing to gain maximum benefits and help you understand the different types of taxes you need to pay, including income taxes, payroll taxes, sales taxes, self-employment tax, etc. For businesses, a CPA can advise you on how to structure your business and what kind of taxes you need to consider. They can also represent you for IRS issues. A Certified Public Accountant (CPA) can help you get a clear picture of your finances and identify areas where you may be losing money or gaining money. Small business owners choose to hire a CPA because they want someone to handle all of their accounting needs so they can focus on running their business. Discover how we can help!

CPAs can help you save money because they can correctly assess your current structure and propose the best way to structure your business and help you understand what type of tax breaks you qualify for. They can help you with all aspects of your business including payroll, bookkeeping, inventory management, small business tax planning, and accounting. If you have employees or operate out of multiple locations, a business CPA can prepare your federal and state returns, file them, and even advise you about ways to lower your tax liability. Business CPAs will also be knowledgeable about any tax changes and can represent you in front of the IRS.

Outsourcing your accounting department is a great way to save money and increase productivity. Many small businesses do not have the resources to hire full-time accountants, and outsourcing allows you to focus on what you do best - running your business. If you think your CPA is costing you money, let’s talk! We offer free consultations to make sure we’re a right fit for your business.

As your operations and goals grow, so does your financial plan. The methods and structures that worked a year ago, could hurt you today. Here are the tell-tale signs you’ve outgrown your firm:

• You have trouble receiving accurate and timely financial statements.

• They can’t advise on a new line of business or change of industry.

• You have limited visibility on business projections.

If this sounds like you, and you'd like to discuss new options, click here!

Of course! Though our CPA office is located in Palm Beach Gardens, we provide accounting and tax services to Juno Beach, Jupiter, North Palm Beach, South Palm Beach, West Palm Beach, Lake Park, Lantana, Tequesta, and surrounding Palm Beach County Areas. Depending on your location, we can also provide support for out-of-state individuals, businesses, and industries. Here’s some feedback from our past clients.

The best way to find out whether you're working with the right accounting firm is to ask them for references. If they don't provide you with any, then you should probably look elsewhere. It helps to find a CPA team who is experienced in your niche market, so they can advise on the best tactics and tax-saving strategies. Even though Schmedes McAllister & Associates, CPA is located in Palm Beach Gardens, we do have many out of state clients. If you need recommendations. 

Yes! Our team of CPAs, CFPs, and accountants are always available to help even during the busiest time of the year.

We have diverse clientele across multiple industries. Our team can advise with tax preparation, accounting, bookkeeping, and other financial services for private businesses, retail, manufacturing, construction, real estate, technology, insurance, hospitality, government, medical, nonprofit, and professional sports. We understand the important methods and practices your niche industry requires. To learn more about specific expertise and past industries, click here.

In the simplest terms, a trust is a three-party arrangement in which the founder of the trust (commonly known as the donor, grantor, or settlor) transfers legal title of the trust property (a res) to a trustee (a fiduciary with respect to the property) to hold and to manage for a third party (the trust's beneficiary) in accord with the grantor’s intent. The beneficiary holds beneficial title to the property. A trust can be created either during the grantor's lifetime or at his or her death by an instrument such as a will that takes effect at death. The trust instrument can be a pretty powerful piece of paper. The trust form has always been considered as one of the foremost developments in the common law because of its flexibility. This flexibility allows the trust instrument to serve a number of tax planning purposes. With a little planning, a trust can create a current charitable tax deduction, avoid capital gains tax on the sale of appreciated assets, and significantly lower estate tax. For this reason, trusts are a common estate planning tool. Estate planning is important because it helps ensure that your assets go to the right people (beneficiaries) after you are gone. More importantly, estate planning should be utilized to maximize the amount of assets that pass to your beneficiaries post estate taxes. There are many different types of trusts that you can create to accomplish this goal. Some trusts are revocable while others are irrevocable. You may need to consider whether you should leave money to your children outright, give them an inheritance, or even name them as beneficiaries of your life insurance policy. These decisions are very important and will affect who gets what when you pass away.

If you're planning to leave an inheritance to someone else, you'll need to consider what happens if something goes wrong. You may not be around to see them get everything they deserve. A comprehensive estate plan spells out how your property will be distributed upon your death, and how your estate taxes and final expenses will get paid. To get more information, get connected here.

To put it simply, retirement planning helps people avoid running out of money after they retire. We provide a unique financial strategy that provides an alternative to traditional savings plans and allows our clients to live independently, comfortably, and enjoy the fruits of their labor. Especially since Florida has the highest percentage of senior citizens in the United States, this is an area of expertise our CPA firm is proud to present. 

We sure can! As part of our estate planning and tax advisory services, we’re here to help you maximize the impact of your philanthropic efforts. We can also help determine how to use the yearly gift tax exclusion to reduce your taxable estate, and we can assist you in determining how to best utilize the annual gift tax exemption. For more information on this service, click here!