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"The hardest thing in the world to understand is income tax." - Albert Einstein
The goal of The Little CPA blog is help take the complexity out of tax, accounting, compliance, and other financial fundamentals. I have helpful articles for parents, nonprofits, businesses, students, and more! -check them out below!
The Little CPA also has Tools and Resources to help you with tax and accounting issues. If you need a CPA for bookkeeping, tax preparation or similar services, click here!
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5 Things That Helped Me Pass the CPA Exam
According to Going Concern, less than 30% of Certified Public Accountant (CPA) exam candidates pass all four sections of the exam on...
The Little CPA
Apr 29, 20213 min read
To Extend My Individual Income Tax Return or Not, That is the Question
The IRS officially extended the individual income tax return due date to May 17, 2021 to accommodate changes from the American Rescue...
The Little CPA
Mar 30, 20212 min read
I didn't Qualify for the Stimulus. What's in the American Rescue Plan Act for Me?
With all of the memes surrounding the 2021 "stimmy," it is no secret that the American Rescue Plan Act (ARPA) included another round of...
The Little CPA
Mar 29, 20213 min read
4 Estate Related Taxes for High Net Worth Individuals
According to the U.S. Securities and Exchange Commission (SEC), a high net worth individual has $750,000 in revenue or a $1,500,000 net...
The Little CPA
Jan 27, 20214 min read
Personal Finance 101: An Interview with Padric Scott, CFP®, WMCP®
To improve our financial situation, we must understand the "why" behind our pursuit for financial success. If we cannot figure out our...
The Little CPA
Dec 7, 20207 min read
Which Should Take Priority When Building Wealth - Debt Reduction or Cash-Flow?
Here is what Padrick Scott, a Florida-based Certified Financial Planner (CFP) and Wealth Management Certified Professional (WMCP), has to...
The Little CPA
Dec 1, 20203 min read
4 Ways to Minimize Taxes on Capital Gains
Trading and selling investments is all fun and games until you realize you are subject to tax on your earnings. Although a tax liability...
The Little CPA
Sep 22, 20202 min read
Hire Your Child As An Employee and Build Generational Wealth
If you have a home-based business, putting your children to work could have long term rewards. The advantages of hiring your child as an...
The Little CPA
Jun 12, 20201 min read
Side Hustles & Taxes Part 1: How to Secure the Bag with eBay
When it comes to side hustles, eBay is top notch. eBay Inc. has more than 174 million buyers and a market value greater than $20 billion....
The Little CPA
Jun 1, 20206 min read
4 Financial Opportunities During Covid-19 Pandemic
With so much uncertainty, there are a few opportunities individuals and businesses can consider to move forward through this wave.
The Little CPA
Apr 29, 20202 min read
COVID-19 Economic Relief for Students, Self-Employed and Other Individuals
While public health is top priority during the Covid-19 pandemic, the requirement to shut down schools and non-essential businesses has...
The Little CPA
Apr 28, 20204 min read
Highlights from the 2020 CARES Act (Stimulus Bill)
On March 27, 2020, the U.S. President signed into law the CARES Act. This Act was implemented to protect American workers, businesses and...
The Little CPA
Apr 9, 20208 min read
Estate Planning 101: A Q&A with Wood Legal Group, LLP
An estate plan is often assumed to be a tool for the "rich." When we hear the word "estate," we think of men in polo shirts, kids...
The Little CPA
Feb 7, 20205 min read
6 Steps Towards a Financially Strong New Year
Let’s start off the new decade right! We can improve our financial circumstance by tackling our finances with these strategic steps: Pray...
The Little CPA
Dec 28, 20192 min read
What is the Gift Tax?
If you gifted more than $15,000 to an individual in 2019, you most likely have to file a Form 709, United States Gift (and...
The Little CPA
Nov 27, 20194 min read
The Tax Side of Giving
While we would like to believe most people give from the kindness of their heart, the reality is, many strategically give to lower their...
The Little CPA
Nov 5, 20197 min read
Public Charities vs. Private Foundations
When you hear the term “charity,” what comes to mind? Goodwill? The Ford Foundation? People for the Ethical Treatment of Animals (PETA)?...
The Little CPA
Nov 1, 20194 min read
Home Ownership and Taxes
The tax benefits of owning a home create a strong incentive to purchase property. If the total amount you pay for property tax, mortgage...
The Little CPA
Sep 30, 20195 min read
Investment Accounts for Kids
From basketball camps to SAT prep classes to prom dresses to college tuition - kids are expensive. Fortunately, there are several savings...
The Little CPA
Sep 2, 20194 min read
Tax Tip: Taxing Capital Gains at Ordinary Income Rates Could Lower Your Tax Bill
Let's say you paid a large amount of interest on a home equity loan with the intention of being able to deduct the interest on your...
The Little CPA
Jul 25, 20193 min read
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