prositesfinancial
How Buying a Home Impacts Tax Preparation
Owning a home comes with many responsibilities, from regular maintenance to insurance and tax implications. Every year, millions of homeowners face the challenge of properly reporting all their deductions, credits, and taxable income from their properties when filing their returns. From mortgage interest to property taxes, capital gains, and more, the tax ramifications of homeownership […]
Written by prositesfinancial • Jun 7 • 3 minute read
How Accurate Financial Statements Can Fuel Business Growth
Savvy business owners understand the importance of having a complete, up-to-date understanding of a business’ financial status. One of the most effective ways to accomplish this is through timely and accurate financial reports. When produced efficiently, financial reports provide a snapshot of financial data that not only reveals the health of your business but also […]
Written by prositesfinancial • May 31 • 2 minute read
9 Questions to Ask When Searching for a Business Accountant
A professional accountant plays an essential role in helping your startup achieve its strategic objectives. However, picking the right fit for your business isn’t always a straightforward affair. These questions will help you in the process of searching for a suitable business accountant: 1. What Are Your Credentials? Certified public accountants (CPAs) are among the […]
Written by prositesfinancial • May 24 • 2 minute read
Understanding the Difference Between FBAR and FATCA
When it comes to international tax reporting, you’ll undoubtedly come across these two acronyms: FATCA and FBAR. While both FATCA (Foreign Account Tax Compliance Act) and FBAR (Foreign Bank and Financial Account Reporting) are forms related to reporting foreign assets, investments, accounts, and income to the U.S. government, they have several notable differences. Depending on […]
Written by prositesfinancial • May 17 • 3 minute read
Personal Finance Tips for Young Professionals
Money management and financial planning topics don’t always get the attention they deserve. Many people regard personal finance as a sensitive subject best avoided in day-to-day conversations. However, it’s a crucial topic that significantly impacts everyone’s long-term success story. As a young professional looking to build a better future for yourself, there’s a lot to […]
Written by prositesfinancial • May 10 • 3 minute read