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A is for Accountant

A is for Accountant- a professional hired to carry out such means of accounting. Business or not, everyone has some method of accounting, whether self-prepared or out sourced.

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ABC’s of Accounting

Simply Taxes will be introducing education moments on our website, via blog post every week. Each blog post will focus on accounting, taxes, and the likes to not only help us explain to you, but for you to understand what we mean! Accounting is a language different than that we speak every day- it is…

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TAX DEDUCTIONS AND TAX CREDITS: WHAT'S THE DIFFERENCE?

What is the difference between a tax deduction and a tax credit? A tax deduction is an amount that reduces your taxable income and, therefore, reduces your tax by your tax bracket percentage. If you have a tax deduction (such as a deductible Traditional IRA contribution, student loan interest, Health Savings Account contribution) in the…

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AUTOMOBILE MILEAGE TRACKING

Most people know it, but few do it or do it correctly. I am talking about tracking business mileage! Mileage is not always deductible. Mileage to and from your place of business, whether self-employed or not, is considered “commuting mileage” and not deductible. Once you are at your place of business, where you go after,…

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