Can I itemize deductions on my tax return?
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be claimed because you didn’t have enough deductions to itemize. How much do you need? You can itemize deductions if the total of your allowable itemized write-offs for the…
Read ArticleWhy Cybersecurity Matters for Your Accounting Needs
In today’s interconnected world, financial data is a prime target for cybercriminals. Whether you’re an individual managing personal finances, a business processing credit card transactions, or a company collaborating with an accounting firm, safeguarding your financial information is crucial. A cyberattack on your financial records can lead to identity theft, fraud, and significant financial losses….
Read ArticleDecoding Retained Earnings: What Your Profits (or Losses) Reveal
While the term “retained earnings” might sound like something only accountants care about, it’s actually one of the most important indicators of a company’s financial health. In simple terms, retained earnings are the profits a company keeps, rather than distributing them to shareholders as dividends. Think of them as the company’s savings—funds that are reinvested…
Read Article