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What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

What Are Account Detail Types in Quickbooks?

If you’re planning to keep track of your business’s financial records using Quickbooks, you’ll need to familiarize yourself with the accounting software’s detail types. Whenever you create an account in Quickbooks — expense account, income account, liability account, etc. — you’ll be prompted to choose a detail type. It’s important that you choose the right detail type because this will affect the subcategory in which the…

Is Hiring a CPA Worth it? 5 Tips for Getting Your Money’s Worth

Often when people find out I’m a tax accountant, I get asked, “How much does a CPA cost?” It’s like me asking “How much does a home cost?” We all understand that a 1,000 square-foot home in Kansas has a different cost than a 1,000 square-foot penthouse condo in New...

IRS Tax Tip: Ten Tax Tips For Individuals Selling Their Home

The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income.Read more →

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

4 Practices That Keep a Life Crisis From Creating a Business Crisis

Nurture relationships and practice equanimity while life is calm and you will be prepared to navigate a personal trauma that could upend your business.

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

Baloney Meter: Does The Income-Splitting Plan Only Benefit 15% Of Canadians?

Does Major Dental Work Count as a Deduction for Income Tax?

Major dental work such as braces and dental surgery can cost thousands of dollars. Even routine visits to the dentist can get pricey. The Internal Revenue Service considers dental care costs a medical expense. However, that does not automatically mean major dental work will count as a deduction for income tax purposes.

Take advantage of these 16 commonly missed tax deductions

Don't miss out on these lesser-known tax deductions.

Tax Tips for Photographers

It’s that time of year again, and no, I don’t mean last night's Super Bowl. Tax season is upon us and for many creative professionals it can either be a joyous occasion or one filled with dread.

5 Tips for Charitable Giving to Reduce Your Taxable Income

‘Tis the season of giving and, as the end of the year approaches, it is time to make year-end tax savings moves. We discuss 5 charitable giving tips to help you reduce your taxable income.

Tips to prepare for an IRS audit

An IRS audit is intended to determine if income, deductions and payments or refunds are correct. Here are some tips on how to prepare.

Overpaying tax? Amazing tax deductions often ignored

Thank goodness for tax deductions! These are some incredible tax deductions you probably didn’t know of or were simply ignoring.

Common Tax Audit Triggers to Avoid

You can avoid common tax audit triggers for your personal and business taxes by accurate income reporting and claiming valid deductions. Check your math.

The Value of a Good Accountant

If you are like me, you probably started out in your business doing “shoe box” accounting. Some of you may still be doing it. That is where you put all your receipts, invoices and checks into a “shoe box” and take it to someone to “straighten it out” at the end of the month or end of the quarter. For those of you that really hate the numbers part of the business, you probably wait until April 14 and then take it to…