Posts tagged memphis cpa firms
Things To Ponder From Your Desoto County Ms Bookkeeping Firm
As a Desoto County Ms bookkeeping firm it seems every-time you turn on the news you are bombarded with how bad the economy is and that unemployment is at record highs. Job losses are reaching record highs. Big companies are going under everyday. This is happening even though the government spent all that money on the stimulus package.
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.