Posts tagged cpa firm
Caring is something not many Memphis CPA firms know much about these days.
Let’s face it, the bigger a Memphis CPA firm gets the harder it is for them to have the ability to pay close attention to every detail of your case. On the other hand you want a company that is big enough to be able to handle the details of your case. Choosing the right Memphis CPA firm can leave you scratching your head. When you do a Google search for Memphis CPA Firm you get page after page of results. Don’t be overwhelmed, do a little investigation and you’ll soon discover that you have found the perfect match.
The Griffith CPA Firm PLLC is family owned and operated Memphis CPA firm with over 40 years of cumulative experience in accounting and tax preparation.
Our Memphis CPA Firm are members of the Better Business Bureau with an A+ rating, as well as members of The Olive Branch, Southaven and Byhalia Chamber of Commerce.
At The Griffith CPA Firm PLLC we welcome the opportunity to discuss your specific needs. We are conveniently located in Southaven, MS. Give us a call or visit us on the web at our Memphis CPA website.
Memphis CPA Bookkeeping Services
Don’t Be Afraid Of The IRS, The Griffith Firm Is The Memphis CPA That Will Fight For You
One of the big things we as Memphis CPA‘s hear from clients, is “I’ve got this notice from the IRS”. The next question out of our mouth is, “what does it say?” A lot of people will say, “I’ve got this letter from the IRS but I haven’t opened it”. So, the first step is, open the letter. At the Griffith Memphis CPA Firm we do have clients that bring us the IRS letter and say “please open this for me, I can’t open it”. So, open the letter, that’s step number one. Then take a deep breath.
Let A Memphis CPA Look Into Your Financial Future
A subject that I think is very important as a Memphis CPA and is a question that you should ask if you are a tax client is “can you project next years taxes?” Let’s say that you just got done preparing your personal income tax return for the current year. As a Memphis CPA I think the question you should ask is, “what are next years taxes going to look like?”
A Memphis CPA Can Save Your Business
One of the things we deal with a lot as a Memphis CPA are small business and record keeping. So much paper goes in and out of offices and the biggest question is how do I deal with this mess of stuff? How do I put it into some sort of order that is going to help me?
Terry Griffith of the Memphis CPA firm, The Griffith Firm, explains the difference between a credit and a deduction.
The question that comes up a lot, is “what’s the difference between a credit and a deduction?” Credit; let me give you an example. Lets say you have a child who is younger than 17 years old and you’re filing jointly with your wife and your income is less than a hundred thousand dollars for the year. You are entitled to a thing called the Child Tax Credit. Now that Child Tax Credit is typically a thousand dollars for each child who’s under 17 years old. That means you’re going to get $1000 in your pocket. So, that is a thousand dollars you’re going to get for each child if your eligible for that particular credit. As your Memphis CPA firm we can help you understand what will be best for you.
As a Memphis CPA we get clients that ask, so, what tax bracket am I in?” At Griffith Memphis CPA we also hear people say, “what happens if I have this additional income?” Let me explain how the tax brackets work. The tax brackets are stair steps. Initially you may start out at a lower bracket, lets say the 10% bracket. Up to a certain point of your income, when your income gets to a certain point then you get into the 15% bracket. Now, that doesn’t mean that all of your income is going to be taxed at 15%. It just means that each additional dollar that you receive is going to be taxed at 15%.
One of many questions that we get as a Memphis CPA at the Griffith Firm during tax season is, “can I take this person as a dependent?” Well, to be able to claim someone as a dependent you have to pass a certain test.
Memphis CPA Dependent Check List
One of the tests is, has that person taken themselves or has been taken on another tax return or a jointly filed tax return? If they’ve been taken on someone else’s tax return, or if they’re married and have been taken on their own tax return then you can not take them as a dependent.