audits
What is A Forensic Accountant?
The term “forensic” may bring to mind crime drama on TV, but forensic accountants are more than just Excel jockeys who happen to deal with criminal or civil cases. These accountants possess many other skill sets that make them especially valuable. Forensic accountants themselves may conduct investigations. Because of this, they must be well versed […]
#accounting for litigation#audits#forensic accountingWritten by prositesfinancial • Jul 15 • 3 minute read
Ten Tips for Small Businesses to Help Prevent an IRS Tax Audit
Each year, well over a million taxpayers will typically be selected by the IRS for audit. No one wants to get that dreaded notice in the mail, so let’s look at ten tips that could help you avoid ending up on their annual tax audit list. 1. Know When to File This may be counter-intuitive, […]
#audits#business accounting#tax preparationWritten by prositesfinancial • May 13 • 4 minute read
New Articles
What You Should Know About Virtual Accounting
Your accountant doesn’t have to be physically present for your business to benefit from their expertise. Modern technology makes virtual accounting an excellent alternative. It analyzes your accounts remotely and updates them appropriately. Virtual accounting also works if there’s a significant distance between your preferred accountant and your business premises. Some individuals and companies choose […]
Written by prositesfinancial • Dec 4 • 3 minute read
Financial health refers to the overall state of your monetary affairs. It’s your ability to manage earnings, expenses, debts, wealth, and fiscal shocks. There are various ways to create financial health, including savings, retirement plans, and planning how you spend your income. If you can comfortably handle unexpected financial emergencies as well as short- and […]
Written by prositesfinancial • Nov 24 • 3 minute read
Using a 529 Plan To Save For College
A 529 plan is a savings plan that is used to save money for college which offers certain tax and financial aid benefits. 529 plans are quite versatile and they can be used for other things too, such as K-12 tuition bills. The Types of 529 Plans There are a couple of different types of […]
#college fund savings#investment tips#paying for collegeWritten by prositesfinancial • Sep 3 • 4 minute read
Credit Card Negotiation Options and Risks
Credit card debt is one of the most pervasive financial issues faced by Americans, with the average credit card balance as of 2016 being $5,551. If paying off your credit card debt is proving to be a substantial challenge, or worse is making it difficult to pay critical household expenses such as groceries, rent, medical […]
Written by prositesfinancial • Apr 17 • 4 minute read
Why Dave Ramsey Might Just Be Right About Using Only Cash
The truth is, most of us just don’t have the self-discipline necessary to use credit cards responsibly. We live in an advertisement saturated consumer society that encourages us to spend, spend, spend at every possible opportunity, and everywhere we go. As a result, most Americans are up to their eyeballs in debt with the national […]
Written by prositesfinancial • Jan 7 • 4 minute read
Top 10 Easy Ways To Save Money Today
Many of us feel like we can never seem to make enough money to make ends meet. It might be drowning in credit card bills or trying to make a student loan payment, but there’s always a reason why we don’t have enough money. While it would be ideal to make more money at your […]
#Budgeting and saving#cutting costs#save moneyWritten by prositesfinancial • Jan 7 • 4 minute read
Key Tips About Student Loan Debt
Overall, the need for student loan debt reform is clear. However, current economical conditions and increasing education costs don’t bode well for any significant changes in the near future. With the student loan debt now surpassing credit card and auto loan debt, it is more important than ever to take precautions and prepare as much […]
#personal finance#Student loansWritten by prositesfinancial • Jan 7 • 4 minute read
How To Begin Building Your Credit
Starting you credit history is the perfect opportunity to begin good spending habits. With over 45 million Americans you are not alone in this pursuit, and there is a method to the madness. There is so much information out there it may be hard to decide where to begin, but after a little research you […]
Written by prositesfinancial • Jan 7 • 4 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
Top 5 Tips for First-Time Investors
Inflation is marching forward at a dizzying pace. In the last year, it’s risen to an alarming 4.5% and higher, so that savings account you rely on for your financial security is constantly being outpaced. One important strategy to outrun inflation is putting your money to work through intelligent investments. If you’re a first-time investor, […]
Written by prositesfinancial • May 3 • 3 minute read