CPAs Handle Taxes, But Who Finds The Hidden Credits?

Doing a Business Audit

By: Corey A. Wilson

Published: May 31st, 2025

What This Article Covers:

• Why relying solely on your CPA may limit your financial opportunities

• The difference between compliance accounting and proactive credit discovery

• Real-world risks of overlooking incentives like the ERC or energy credits

• How working with specialists can unlock hidden capital in your business

Why This Conversation Matters

Most business owners trust their CPAs to handle everything when it comes to money. And for good reason CPAs are essential. They file your taxes, keep you compliant, and help you avoid red flags with the IRS. But here's the truth: while your CPA might keep you in good standing, they may not be helping you grow or get back every dollar you're entitled to. And that’s not always their fault it’s often not in their job description. Many CPAs were trained with a focus on historical reporting, not forward-looking savings strategies. Without someone on your team actively looking for opportunities, you’re playing defense when you could be playing offense.

Not All CPAs Are Created Equal

Just like in any profession whether it’s plumbing, law, or coaching there are different levels of skill and experience. Some CPAs are highly specialized and forward-thinking, while others stick to the basics. A less experienced CPA may do everything “by the book,” but miss strategic moves that could put money back into your business. It’s not about blame it’s about awareness. And lack of awareness can cost you thousands. A seasoned tax credit specialist or financial strategist might see value where others don’t simply because they've seen more real-world business cases. Your bottom line can suffer if you assume all professionals offer the same depth of insight.

The Missed Opportunity: Tax Credits & Incentives

There are a wide range of tax credits out there for small and mid-sized business owners. We're talking about credits for hiring employees from underserved backgrounds (like the Work Opportunity Tax Credit), for keeping staff during tough times (like the Employee Retention Credit), or even for going green with your energy usage. These aren't obscure benefits for massive corporations these are meant for businesses like yours. But here's the catch: most CPAs don’t specialize in finding these incentives. They focus on compliance, not exploration. If your business is doing innovative work, hiring staff, or upgrading facilities, chances are you already qualify for credits and just don’t know it. These incentives could fund future growth, yet they often go unclaimed due to lack of exposure or guidance.

Reviewing the numbers

What CPAs Do Best And Where They Stop

A great CPA will make sure your numbers are clean and your filings are accurate. But most CPAs are trained to avoid risk, not chase after every dollar of savings. That’s where a tax credit specialist comes in. These professionals aren’t here to replace your CPA they work alongside them. Their entire job is to stay up to date on niche programs and legislative updates, so they can find you the money that’s hiding in plain sight. Think of it like this: your CPA is your business’s financial scorekeeper, while your specialist is your treasure hunter. You need both roles filled if you want to grow and protect your cash flow.

The Cost of Not Knowing

Imagine leaving $30,000 or more on the table just because no one told you it was available. That’s the reality for many business owners. And once a tax year is closed, there’s often no going back. If your advisor doesn’t have the bandwidth, experience, or training to look for these opportunities, you won’t even know you’re missing them. In business, what you don’t know can hurt you especially when it comes to financials.You’re not just losing money you’re losing momentum and competitive advantage. Missed credits can affect your hiring, marketing, and reinvestment potential, which slows your overall growth.

How to Move Forward Smarter

The best approach isn’t to fire your CPA it’s to build a stronger team. Think of your CPA as the guardian of your past finances, and a tax incentive specialist as the scout for your future savings. When they work together, you get both compliance and capital advantage. It’s not about replacing anyone it’s about supplementing the support you already have, so your business is set up to grow and protect every dollar it earns. Start by identifying gaps in your financial strategy and bringing in experts who specialize in turning overlooked expenses into recovered capital. A strategic team setup means you’re working smarter, not just harder.

Frequently Asked Questions

Should I stop working with my CPA?

Absolutely not. CPAs are crucial for keeping your business compliant. This article is about adding another layer of support, not replacing them.

What does a tax credit specialist do that my CPA doesn’t?

They focus specifically on finding, qualifying for, and applying to credit and incentive programs that your CPA may not be trained to spot or pursue. Their job is to connect your business model to government or private-sector opportunities for financial relief.

Are these credits really worth it for small businesses?

Yes. Many small businesses qualify for significant amounts sometimes tens of thousands of dollars especially in programs like the ERC or R&D credits. Even just one successfully claimed credit can make a major difference in your annual budget.

How do I know if I’m missing out on credits?

A simple financial incentive assessment can uncover missed opportunities. Most specialists offer these for free or a low cost before any commitment is required.

Where can I find a tax credit specialist?

Start by asking trusted advisors, or connect with consulting firms like Alexander Skye Group that specialize in financial strategy and government-backed programs.