DeFreitas & Minsky Accounting Blog

5 Personal Finance Red Flags Millennials must Avoid

Posted by thallissey on Aug 9, 2017 10:00:00 AM

After college is over, one of the most important lessons you can learn is how to manage your personal finances. Whether you are balancing a checkbook for the first time or struggling to pay off debt, it’s easy to make mistakes if you don’t know how to recognize these five warning signs of poor money management.

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Topics: Financial Planning

Long Island Accountants Help Family Owned Businesses Thrive

Posted by thallissey on Jul 14, 2017 10:00:00 AM

Since your family owned businesses is built on the strength of its lasting relationships, you need a qualified accounting partner you can trust. The objective input and counsel of Long Island accountants can help you set and reach all your financial goals.

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Topics: Business Accounting, Financial Planning, Tax Planning

What is a Fiduciary, and what are their Duties?

Posted by thallissey on Jul 7, 2017 10:00:00 AM

Despite their important financial role, many people are unfamiliar with the term “fiduciary.” In this blog, we will explain exactly what is a fiduciary and what responsibilities they have to the individuals or institutions they may serve.

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Topics: Financial Planning

What Business Owners Need to Know about Tax Return Forms

Posted by thallissey on Jun 16, 2017 10:00:00 AM

If you run a business, you know taxes can be tricky. With profits to tally and W-2s to distribute, it’s hard to know where to begin. A good first step is to learn which tax return forms you will need based on your business type.

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Topics: Business Accounting

IRS Holding over $1 Billion in Unclaimed Income Tax Refunds

Posted by thallissey on Jun 9, 2017 10:00:00 AM

If you haven’t claimed an old income tax refund check in the past few years, you might be in luck. The IRS may still be holding on to your money. Anyone is eligible to claim a tax refund up to three years after the filing date.

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Topics: Tax Laws, Tax Returns, IRS

7 Money Saving Tips you can Take to the Bank

Posted by thallissey on May 17, 2017 10:00:00 AM

With financial obligations like college tuition and housing payments, it’s easy to put saving money on the back burner. However, this strategy will likely catch up with you at one point or another. If you are planning for your future, these seven money saving tips will help you become more financially conscious.

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Topics: Financial Planning

Why Small Businesses can’t Neglect Financial Planning

Posted by thallissey on May 3, 2017 10:00:00 AM

As a small business owner, you likely have your hands full running the day-to-day operations. However, neglecting the future for the present can be a huge mistake. That’s why most companies choose financial planning services, which offers many short-term and long-term benefits.

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Topics: Financial Planning

5 Small Business Tax Credits that Add up to Big Savings

Posted by thallissey on Apr 19, 2017 10:00:00 AM

Tax preparation is a complex process for small business owners. As a result, many first-time filers or even some experienced executives miss out on big tax credits. Before you file your tax return or plan a big business expense, learn more about how these tax breaks could help your company financially.

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Topics: Business Accounting, IRS

How to Get More Personal Tax Preparation Done in Less Time

Posted by thallissey on Apr 5, 2017 10:00:00 AM

Since the tax deadline clock is ticking, it’s time to get to get down to business. Even if you haven’t done any tax preparation yet, it’s still not too late. Our five tips will help you get everything done by April 18.

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Topics: Tax Planning, Tax Returns, IRS

Tax Questions: Who you can and can't Claim as a Dependent

Posted by thallissey on Mar 21, 2017 10:00:00 AM

While it may seem simple, there are many rules to who you can and can’t claim as a dependent. Since each qualified dependent can reduce your taxable income by more than $4,000, it’s worth examining to see if you qualify. These answers to typical tax questions about dependents will tell you everything you need to know.

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Topics: Tax Laws, Financial Planning, IRS

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Find answers to any accounting questions you have.

These questions are usually from our clients.  If you would like to send us a question, please email us at info@dmaccountingfirm.com or ask on one of our social accounts.

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