Our Financial Blog

Financial Audit

Financial Audit

Financial audits guarantee that a business’ finances are accurate and that their reports and operations are fully functioning according to plan. They also verify that the information being collected contains no errors that could potentially cause problems both in the...

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Corporate Financial Checklist

Corporate Financial Checklist

LRSCPA is a well-rounded CPA firm that offers corporate accounting services to New Jersey small and medium-sized businesses. To make sure your business isn’t falling behind, we’ve put together a comprehensive corporate financial checklist for your business to adhere...

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What Is Annualized Rate of Return?

What Is Annualized Rate of Return?

Annualized Rate of Return is a metric used to compare the profitability of different investments over different time frames. It gives you one number to directly compare to another number that shows how profitable an investment is over a given 12 month period. This...

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Top 4 Tips From A Business Consultant

Top 4 Tips From A Business Consultant

Our CPA firm is more than just a bunch of number crunchers–we are your business partners too. All of our suggestions are based on a deep-rooted understanding of accounting principles and your finances, so you know you’re getting the proper guidance from the team that...

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Don’t Use TurboTax

Don’t Use TurboTax

TurboTax is a popular choice for many every tax season, and while you may be drawn to the low entry price and quicker turnaround time, keep in mind that you get what you pay for, and you could end up regretting using it in the long run. TurboTax Can Be Confusing For...

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Common Itemized Deductions

Common Itemized Deductions

If you’re itemizing your deductions this year, you might want to speak to a licensed CPA like LRSCPA. Let us give you a few tips for free! Bunch Your Deductions When your total tax deductions exceed the standard deduction ($12,550 for single filers and $25,100 for...

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Blog Categories

Tax Tips

A Few Other Resources We’ve Created for Our Customers

Don’t Use TurboTax

Don’t Use TurboTax

TurboTax is a popular choice for many every tax season, and while you may be drawn to the low entry price and quicker turnaround time, keep in mind that you get what you pay for, and you could end up regretting using it in the long run. TurboTax Can Be Confusing For...

Common Itemized Deductions

Common Itemized Deductions

If you’re itemizing your deductions this year, you might want to speak to a licensed CPA like LRSCPA. Let us give you a few tips for free! Bunch Your Deductions When your total tax deductions exceed the standard deduction ($12,550 for single filers and $25,100 for...

Cryptocurrency Tax Laws in 2022

Cryptocurrency Tax Laws in 2022

As it is with anything new, the IRS is playing catch up and trying to figure out the best way to handle income gained through the sale and trading of cryptocurrency. If you traded on any crypto market in 2021, your 2021 tax return might look a little different this...