The Little CPA

04/21/2024

Where is The Little CPA?

You might have noticed content has slowed down 🛑Over the next few months, we’ll be prioritizing the following -

✅ Improving website SEO to better attract target audience, and
✅ Generating revenue.

Please continue to follow this page - it’s not going away! Social media is just moving down the priority list as we strengthen our foundation 💪🏽

Thank you for your patience as we work to to bring you even more value and strengthen systems that will allow us to expand/outsource💙

See you soon!

04/21/2024

The National Priorities Project releases a report annually on where the average taxpayer's liability was allocated. This year -

💰 $1,748 went to Pentagon contractors,
💰 $4,308 to Medicare and Medicaid, and
💰 $346 to K-12 education.

Source: Bloomberg

03/31/2024

Happy Easter ✝️

Financial stewardship is important. But ALWAYS keep the main thing, the MAIN thing.

03/13/2024

Happy National Working Moms Day!

Although this day celebrate Moms in the workforce, we know that every mom is a working mom 💪🏽

To the moms in the workforce and stay-at-home moms who work tirelessly to raise their families- thank you for all that you do ♥️

02/28/2024

Right?!⬇️

💵Have you ever bought a flight last minute?
💵Missed the early-bird price for a conference?
💵Had to navigate final payments for a loved one who postponed life insurance?
💵Paid for car repairs after ignoring regular maintenance?

All that last minute stuff adds up 💰

One of the best ways to manage, save and grow your finances is to plan ahead.

Budget, calendar, phone reminders, automate…. Whatever it takes 💙.

02/05/2024

What would you do with a 12 month severance payment?👇🏽

If you’re wondering what kind of jobs offer that kind of severance and how do you apply? 😂 Here’s you answer -

1) Executives.

CEOs, CFOs, CTOs… the whole C-Suite often get large severance packages 💰

The average size of a severance package for executives can vary significantly based on factors such as the industry, company size, and individual employment contracts 📝

However, it’s not uncommon for executive severance packages to range from several months’ salary to a year or more, along with additional benefits like stock options or health benefits continuation.

Executives negotiating their employment terms often have more room for customization in their severance agreements.

2) Start-Up / Early Stage Businesses

Sometimes, certain early stage businesses will provide large severance packages if they plan to get acquired by a bigger company. Part of the acquisition contract will include generous payout benefits for the smaller company’s employees.

So, if you’re shooting for that C-Suite position or early-stage business position, make sure you’re prepared not only to negotiate your base compensation, but also your equity, severance, deferred compensation (retirement) and more 💪🏽💙.
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01/29/2024

📆 Important due dates for !

01/29/2024

For individuals, tax season officially starts TODAY!😬

As you organize your records, keep in mind the length of time you should hold onto prior year records, according to the IRS ☑️

Visit the IRS website for more detail 👇🏽
https://buff.ly/2DX2JlS

01/26/2024

Thinking about making a few home improvements? Check out these tax benefits in our latest blog! 👇🏽
https://buff.ly/3vXW37w

01/24/2024

Want to tap into your home equity 🏡? Check out The Little CPA's latest blog post where we interview Thomas Kopelman, Co-Founder of AllStreet Wealth, for valuable insights on the potential risks and benefits of HELOCs 👇🏽

Should you open a HELOC? Discover what a HELOC is, how a HELOC works, risks, benefits and more! Gain insights on HELOCs from licensed financial advisors.

01/24/2024

What is it about these cups? 🤷🏽‍♀️

Do you own a Stanley cup? Please let us know what makes it “superior?”

While The Little CPA does NOT encourage crime, if she would have gotten away with this, she likely would have COME UP resealing these on eBay or other e-commerce platform 💰💰

But, crime does NOT pay 👀

This statement from Roseville police is the kicker -

“While Stanley Quenchers are all the rage, we strongly advise against turning to crime to fulfill your hydration habits.”

😂😂😂😂😂😂
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01/24/2024

Why is this important?👇🏽

Note how unsecured debt has higher interest rates 👀

So, let’s say you own a home and take out a home loan to convert your garage into a rental property 🏡. Because you own an asset (your home) that serves as collateral, you get:

💰A loan with lower interest rates than credit cards and other types of unsecured debt.
💰Possible tax deduction for interest paid on loan.
💰Rental income that can help you pay off the loan and build your net worth.

When people say they want , these are some of the benefits they desire.

And, this brings to light one of the reasons why the wealth gap exists for black, brown and other groups of people who were systematically deprived of asset ownership 🤎.

📣Share and save this for future reference!

For more content that helps you make wise financial decisions… you know what to do 😉
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01/21/2024

Multiplication Wild ‘N Out Style 🙌🏽

Who wishes they had a math teacher like this in grade school?🙋🏽‍♀️

Much respect to Mr. Hyacinth for finding creative ways to make Math fun. Check out the link below to support his classroom 👇🏽

https://buff.ly/4b3ObS2

01/15/2024

Happy MLK Day!✊🏽

Who else funded the Civil Rights Movement?💰👇🏽

💙Atlanta Life Insurance Company,
💙Sidney Poitier,
💙Sammy Davis, Jr.
💙Taconic Foundation,
💙Field Foundation,
💙Stern Family Foundations, and
💙Many more.

Can you imagine if the Civil Rights Movement didn’t receive any financial support? Many of us wouldn’t have the freedom we have today.

For instance, the Freedom Riders might not have had the resources to gain national attention, Dr. Martin Luther King, Jr. might not have had support to provide for his family while leading the movement, the NAACP would look a lot different…

Whether you are wealthy like Harry Belafonte or a small entrepreneur like Georgia Gilmore, your contributions can help move change forward ⏩⏩

Managing, investing, growing and giving your money wisely gives you more capacity to make a financial impact 💪🏽💙.

💙Imagine if you allocated 5% of your budget towards STEM programs in underserved communities, or
💙Gave a portion of your bonus to an organization that fights for peace in a country at war, or
💙Committed to donate a $1 from each side hustle sale to your Church’s community service committee.

Yes, the current cost of living is high. But, if African-Americans were able to give with low-wage jobs and limited opportunities (due to systemic racism) during the Civil Rights Movement, many of us can find a way to give (even if a little) today.

May we forever be encouraged for those who used their money to fight for freedom 🫡

Happy Day!
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01/13/2024

4 Facts You Should Know About Spot Bitcoin ETFs 💰👇🏽

01/13/2024

5 Facts You Should Know About Spot Bitcoin ETFs 👇🏽

01/11/2024

So what does this mean? 👇🏽

First, fòllow for more empowering content that helps you make wise financial decisions 💪🏽💙.

Now, let’s break it down:

💰 It means that, in 2023, the overall cost of living was 3.4% higher than the previous year.
💰It could mean that we won’t see cuts to interest rates as quickly as some of us had hoped.
💰 It means that, although prices increased, overall inflation has become more moderate since hitting a decade high in 2022.

Note the items that have increased/decreased due up recent inflation and update your budgets as needed 💵.

01/10/2024

Congress has been working on a tax deal that includes an expanded child tax credit 💰.

Although the credit might differ from what what we saw in 2021, the deal might pass before filing season begins on Jan 29 - which could mean lower tax bills for parents/guardians. Stay tuned!

11/30/2023

Save and share this post with someone who needs it 📌

The Little CPA aims to bridge the gap between personal finance influencers and fiduciaries 🌎

The blog sources knowledge from licensed professionals and success stories from personal finance influencers to empower you with info and tools on financial management, financial impact, financial growth and financial freedom 🙌🏽.

Of course, this is not a one-size-fits-all post.

Some CFOs, attorneys and other fiduciaries have figured out how to become influencers on social media without breaching regulatory compliance 🙌🏽

And, some personal finance influencers have helped clients with advanced wealth planning strategies 💰.

Overall, it’s SO important to stay educated, understand your long term financial goals and review the qualifications of the person helping you achieve those goals to make sure they align.

To learn more, click “Fiduciaries vs. Financial Advisors” via link in bio 🔗.

Follow for more empowering content that helps you make wise financial decisions 💪🏽💙.
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11/20/2023

What is market cap? 👇🏽

Market cap, short for market capitalization, is the total value of all a company's shares of stock. It's like a price tag that the market puts on a company. 💡

Here's how it works: You multiply the company's share price by the total number of its outstanding shares.

For instance, if a company has 1 million shares selling for $10 each, its market cap is $10 million. 📈

So, when a company holds the largest market cap in a product, it means they're the big player in that field. They've got the lion's share of the market, and that gives them power and influence. 🦁💪🏽

Why does it matter? Because market cap gives us a snapshot of a company's size and success. It helps investors compare companies and make informed decisions. 🎯

Oh, and the fact that the 5 biggest companies hold market cap greater than $1 TRILLION is a pretty big deal 👀.

Follow for more empowering content that helps you make wise financial decisions 💪🏽💙.

Visual created by .
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11/13/2023

Every individual taxpayer should be aware of the current year standard deduction ⬇️

Let’s say you and your spouse are planning to buy a condo as a primary residence because you believe the payments will decrease your tax liability 💰

But, when you add up the annual property tax and mortgage interest, you’d pay less than $29,200, the standard deduction for couples filing Married Filing Jointly 🧐.

So, you wouldn’t even get to deduct your tax or interest payments 👀

Although tax implications shouldn’t always make our break your financial decisions, they should play a factor.

❓Should you try to purchase an investment property instead to maximize passive income/loss implications?

❓Should you put your money in the stock market instead and take advantage of long-term capital gain tax rates?

There are so many tax options to consider.

If you’re not a tax pro, you don’t have to know all the things.

But, if there was a list of Top 5 Tax Things Everyone Should Know, the standard deduction would be on there 😉.

Follow for more empowering content that helps you make wise financial decisions 💪🏽💙.
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11/11/2023

Drop a 💙 if you want more content like this!

This might be too technical for Instagram 📊, but sharing in case this is useful for those of you who manage nonprofit entities.

One of the most challenging aspects of running a nonprofit are the compliance requirements- particularly when it comes to foreign transactions.

Talk to a tax pro who specializes in nonprofit compliance before sending humanitarian aid overseas to make sure you aren’t overlooking certain federal rules 🧐

Follow for more empowering content that helps you make wise financial decisions 💪🏽💙.
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11/05/2023

Last week, Intuit announced it would no longer offer the Mint budgeting app after January 1, 2024!

This transition has left more than 3 million budgeters wondering whether they should move with Intuit onto Credit Karma - or if they should search for the next best user-friendly budget app.

To make this decision easier, we've compiled a list of the 10 Best Budgeting Apps - check out the blog!

Review the Pros and Cons of YNAB, Empower, Copilot and the 10 Best Budgeting Apps to help you reach your personal finance goals!

10/31/2023

Giving season is approaching. Bitcoin value is up 📈

If you own cryptocurrency and are thinking about donating more than $5K of it, let your tax pro know before you donate!

Here a few things your tax pro might tell you 👇🏽:

- Noncash donations with a value greater than $5K (other than publicly traded securities) must receive a qualified appraisal
- Both the appraiser and the charitable recipient must sign the Form 8283 you attach to your tax return BEFORE the tax return due date
- Make sure you have a donor acknowledgement letter for any charitable donation greater than $250

And no, you can’t hit up your favorite crypto buddy to appraise your currency. A qualified appraiser must meet specific IRS qualifications.

If you fail to get an appraisal for a crypto donation valued greater than $5K, your tax pro can’t use the reasonable cause exception to get you the deduction.

The IRS says NO appraisal, NO deduction. Periodt ‼️

If you are looking for a tax pro who specializes in cryptocurrency, follow to stay up to date on all things related to crypto and tax.

Follow for more empowering content that helps you make wise financial decisions 💪🏽💙.
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10/09/2023

Click link in bio to join the You Got Food at Home Challenge 💪🏽💙

We’re one week into -

✅ Learning what items to buy in bulk for more cost efficient grocery shopping
✅ Working on spending less on food and more towards our financial goals
✅ Meal planning around busy schedules…
✅ And more!

There’s not a whole lot we can do to combat inflation - so managing our food costs is key 🔑 to taking control of our finances in spite of the current high cost of living.

Tomorrow, we’re diving into apps we can use to monitor our food budget and stick to it.

Sign up today to spend less on food and nourish your wealth 🥘 💰!
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