What are the Differences Between an Accountant and a CPA?

What is Accounting? Accounting is basically the recording and reporting of financial transactions. Anyone who does accounting functions can call themselves an accountant, even without a professional degree in accounting, although usually, an accountant does have an accounting-related degree. Often, accountants with no certification perform tasks such as bookkeeping, looking after general accounting matters, and

April 8th, 2022|Taxation|

The Way-Too-Early Look Forward to Tax Year 2022 

The Internal Revenue Service has announced annual inflation adjustments for the tax year 2022, meaning new tax-rate schedules and tax tables and cost-of-living adjustments for various tax breaks. Most numbers are up more than in recent years because of higher inflation. Note: These numbers, for the tax year beginning January 1, 2022, are what you’ll

March 4th, 2022|Taxation|

2021 Tax Changes

If you haven't started already, it's time to begin thinking about your 2021 tax return. After all, the more tax planning you do, the more money you may be able to save. However, proper tax planning requires an understanding of what's new and changed from the previous year — and there are plenty of

December 13th, 2021|Taxation|

Characteristics Of Too-Good-To-Be-True Tax Planning Strategies

As CPA’s, we are constantly bombarded by on-line or in-person solicitations for the next great Tax Avoidance Strategy.  Just as frequently, we have clients that have pursued these strategies after attending a free-lunch seminar or heard it from a well-meaning neighbor.  We will then spend an hour or more researching the strategy only to find

June 5th, 2021|Taxation|

What you can expect in the 2021 Tax Season

The Internal Revenue Service (IRS) will soon start accepting federal tax returns for fiscal year 2020. The coronavirus pandemic and the many pandemic-related relief measures passed last year make this a unique tax season for taxpayers and the IRS. Congress made several tax policy changes in 2020 that will affect the next fiscal season, including

January 30th, 2021|Taxation|
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