An Overview of Single Parents Tax Credit
The federal government put tax credits and deductions to help ease tax liabilities and help taxpayers save on their returns. They, however, work differently. Check out their differences here. The tax credit will reduce your income tax bills. In this article we discuss the Single Person Child Care Credit (SPCC). A single parent tax credit reduces […]
What Is a CPA Firm?
The terms “CPA” and “accounting” are sometimes used interchangeably. However, this is often an unconscious misrepresentation. While it is true that all CPAs are accountants, not all accountants are CPAs. So, what is a CPA? CPA is an acronym that stands for Certified Public Accountant. The keyword there is “certified.” Not only is there a […]
The Difference between Tax Return and Tax Refund
There is a lot of tax jargon you’ve encountered during your tax assessment process. Most of which you don’t really know what they mean. Some are intertwined with each other, so you can confuse one terminology for the other. A good example is a tax return and tax refund. Therefore, it’s important to prime yourself […]
What is the American Institute of Certified Public Accountants?
The American Institute of Certified Public Accountants is an association that was established in 1817 with the responsibility for developing and grading the Uniform Certified Public Accountants examination. To receive certification as a Certified Public Accountant in the United States of America then one must pass the CPA exam. The examination is challenging, so not […]
Do I Qualify for Earned Income Tax Credit?
Before jumping into the concept of earned income tax credit, it may be useful to properly define the concept of earned income. This is simply money that you earn from business ventures you may engage in for yourself or as an employee of someone else. Therefore, it covers the full spectrum of salaries, revenue, tips, […]
Tax Season 2022
Tax Season 2022 is upon us! Note the following filing deadlines: For most people, the deadline to file 2022 income tax returns is Tuesday, April 18, 2023. This is three days later than the traditional April 15 deadline. Also note that for those receiving a tax refund, the process is expedited by filing returns electronically […]
Documentation in Accounting
At Marcus, Fairall, Bristol the sensitivity of financial data is a top consideration. We have put in place multi-factor measures to ensure the privacy of all of our client files. Safeguarding the privacy of client information is a top priority and these record-handling procedures determine the manner in which we handle, save, and use documentation. […]
What Is Estate Planning?
Investments, cars, homes, savings, and personal possessions owned at a person’s death are their estate. Upon an individual’s death, their estate is given to heirs. The assets must be distributed through the instructions on the deceased’s will. That is known as estate planning and is crucial to protect assets. Today we talk about what people […]
Why are Small Businesses Important for the Economy
Why Are Small Businesses Important for the Economy? Considering the United States is home to seven of the world’s top 10 highest-value companies, it may seem odd to say that small businesses are what keep the perpetual wheel turning. Think of the American economy, and the mind jumps to tech giants and financial titans. Nevertheless, […]
If you did not receive your stimulus check, there is a process for getting missed payments. Here is how you do it: If you did not receive the 1st or 2nd stimulus payments, the first thing you need to do is create an account on irs.gov. That will show you your tax records including the stimulus […]