FICPA: Money Management Articles

Focusing On Accounts Receivable

Managing your accounts receivable is so critical in today�s economic environment. So many entrepreneurs are having problems with cash flows, that paying late just seems to be becoming more and more pervasive. While you can be empathetic with your customers� issues, you must insure financial viability of your company. Managing your accounts receivable and being proactive in their collection is the way to insure that you have enough cash to meet your obligations.

Florida CFO�s Money Smart Ideas

Credit Problems Not Just Users' Addiction

When you watch Janne O'Donnell and Trisha Johnson talk, you almost vow on the spot to never use a credit card again. Each is a mom with a college-age child who committed suicide while loaded with credit-card debt.

Tax Breaks That Help When Disaster Strikes

When disaster strikes, taxes are probably not on your mind. Yet it is reassuring to know that when your property is damaged, destroyed or stolen, you may qualify for tax relief for losses not covered by insurance. To assist victims of property loss or damage in understanding the tax breaks that may be available to them, the Florida Institute of CPAs explains the casualty loss tax deduction and how to claim it.

Tax Breaks Get Better With 2006 Inflation Adjustments

For 2006, more than 35 tax benefits have been modified to keep pace with inflation. These new figures don�t affect the return you�re filing for 2005, cautions the Florida Institute of CPAs, but you should keep them in mind for this year�s tax planning. Here is an overview of the more common ones.

No Sweat Tax-Filing Tips

As the April 15 deadline looms, many taxpayers find themselves facing unnecessary stress about filing their 2005 tax returns. By following a few �no sweat� tax-filing tips, the Florida Institute of CPAs says you can get through the process without too much anxiety.

Deductible Investment-Related Expenses

Do you invest in stocks, bonds or mutual funds? If you do, you may be able to deduct certain expenses related to your investments. To be deductible, the expenses must be ordinary and necessary and related to the production of taxable income, or for the management of property held for the production of income, reports the Florida Institute of CPAs.

New Year, New Financial Records: What to Keep and for How Long

Personal financial records are a necessary part of our lives, but it�s easy to get overwhelmed by the volume of papers that can accumulate. According to the Florida Institute of CPAs, January is an excellent time to get your financial records in order.

Life�s Financial Emergencies: What You Can Do to Prepare

Many people plan for anticipated expenses, like paying for college and saving for retirement. Yet, when unexpected financial emergencies occur, individuals often find themselves unprepared. The fact is a job loss, serious illness, divorce or natural disaster can happen to anyone.

Deductible Medical Expenses You Can�t Afford to Overlook

When you have health problems, medical expenses can quickly add up, even if you have health insurance. That is why it�s important to understand the rules for deducting qualified medical and dental expenses. According to the Florida Institute of CPAs, if you itemize your deductions, you may be eligible to deduct unreimbursed medical, dental, and vision care expenses for yourself, your spouse and your dependents.