Posts Tagged ‘taxes’

No!

All CPAs are accountants, but not all accountants are CPAs.  CPA is the abbreviation for Certified Public Accountant.

The principal differences between accountants and CPAs are education and experience. In order to become a CPA, there are education and experience requirements needed to be fulfill.  In addition, a Uniform CPA Exam must be passed.

CPAs are many things. They are chief financial officers for Fortune 500 companies and advisors to small neighborhood businesses. They are well-respected strategic business advisors and decision-makers. They act as consultants on many issues, including taxes and accounting.

A Certified Public Accountant is a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals.

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If you manage to negotiate a reduction in credit card or any consumer debt the cancelled debt balance is income to you and will effect your taxes.

When you collect unemployment you are taxed on the income.  For 2009 only, each person escapes tax on the first $2,400 of unemployment insurance collected.