First Time Home Buyers

Our Housing & Education Alliance assists  First Home Buyers who booked to attend our 10 hour instructor led class. Participants will learn the fundamentals of the home buying process.

Down Payment Assistance

Having hands-on with the community needs My Home America alliance knows that that home ownership is sometimes not always affordable for the majority of low income households.

Financial Literacy Program

The Financial Literacy program being offered by MHA in alliance with word’s leading tax accountants will assist the students in understanding the importance of having your own savings or savings through the tax refund or both.

Foreclosure Help

The federal government has allocated funding to help pay the mortgages of qualified homeowners who are unemployed or underemployed through no fault of their own. American government program aims to assist qualified homeowners by providing financial assistance for up to twelve (12) months capped at $24,000, or until the homeowners finds adequate employment to resume paying the mortgage (whichever comes first) with up to $18,000 available to reinstate a delinquent first mortgage prior to payments being made. Additionally, for a homeowner who is recovering from unemployment/underemployment, up to $25,000 is available as a one-time payment to reinstate a delinquent first mortgage.

Government financial assistance is paid directly to the lender for those homeowners deemed eligible to participate in the program.

Free Housing Counselling

My Home America is a well known Counseling Agency that will guide you through the steps necessary toward helping you achieve your dream of homeownership.

Through our one-on-one counseling program, MHA will take our First Time Home Buyers Education class to a deeper level in order to address your own personal needs.

Our counseling activities include: Developing your own budget, minimizing your tax refund savings to increase your purchase capacity, helping you to select the product that best suits your needs, guiding you through the purchase process step by step, finalizing your contract, preparing you for closing among other issues.

Recent Posts From Our Blog


Foreclosure Prevention

You are not on your own in this challenging circumstances. There are many financial education and counselling agencies willing and able to assist you.

Foreclosure Prevention Counseling Agencies

  • City of Tampa Housing & Community Development (813) 274-7954
  • Corporation to Develop Communities (CDC) of Tampa (813) 231-4362
  • Neighborhood Assistance Corporation of America (NACA) (813) 287-5051
  • Solita’s House, Inc. (813) 425-4847
  • Tampa Housing Authority (813) 253-0551

HUD Foreclosure Prevention Programs (FHA Refinance Programs)

  • HOPE NOW (888) 995-HOPE (4673)

Read more as well at Making Home Affordable website.


myhomeamericaIn every society where there is exchange of commodities whether physical goods or rendered services, money is always required before any transaction can be completed. Whether it’s a school, hospital, bank, or a local shop around the corner, money is always involved. Since money is involved, there must be an account of how the money is spent. Apart from money, other resources such as time and personnel can also be accounted for. Every asset in the workplace must be accounted for or else it will be mismanaged. In fact no business activity can last for long without a proper account of how the resources of the business are being used. Accounting is surely the language of business. It is an important activity in almost every business organization as long as resources are moving in and out. By now we should be ready to give a formal definition of what accounting in business means.

Accounting is the process of recording and analysing the financial transactions of an organization in an attempt to establish the company’s financial position at any point in time.

The word financial is used because accounting is more focused on money even though other things can be accounted for. However it is important to note that every asset in any establishment such human labour, machinery, building or time, all translates to money. When no monetary value is placed on these items, they are no more than useless. Accounting is heavily centred on creating substantial information about money; one that can be used to tell if a business is doing well or not.

Although accounting is very common, it is often misunderstood. The conception held by most people is that the field is only concerned with crunching numbers-addition, subtraction and stuffs like that. While all these are part of what accountants do, accounting involves a lot more than numbering or business arithmetic. It is an enjoyable field that involves a lot of controversial issues beyond number crunching. Many accountants hold the view that personal skills are necessary for progress. Thus apart from technical requirement, accountants are expected to be judgemental in performing their duties. Sometimes they have to make educated guesses and estimates in order to produce efficient results.

Financial accounting plays a crucial role in both the private and public sectors of any economy. It is the field that drives other fields whether profit or non-profit as long as there is a transaction that involves money whether directly or indirectly. Every activity that involves the buying and selling of goods and services must be accounted for so that the company involved will know if they are making profit or losing. Some of the transactions that might appear on tax return include:

  • Debts owed by the business
  • Wages and salaries paid to workers (employees)
  • Allowances paid to employees
  • Record of goods sold to customers
  • Taxes on sales remitted to the government
  • Receipts of expenses made by the organization
  • Receipts of invoices from suppliers
  • Inventories
  • And more

All these transactions are recorded in an accounting system. An account is then made taken on individual item, whether they are expenditures, cash taxes, debts or inventories. Each of these items is recorded in a separate account.

There are certain accounting terms that are used in almost every accounting exercise; having a basic knowledge of these terms will facilitate your understanding of financial accounting.


This is the money available to the company. It could be held in a saving or checking accounts.


A company’s inventory includes all the products that are yet to be sold. They are held in stock to be sold later to customers.


Equity refers to the business capital plus the profits made by the organization. It is usually available to the business owner(s).

Fixed assets

Fixed assets are assets that are not mobile. They are used by the company for a long time, e.g. building and machinery.

Accounts receivable

Accounts receivable includes all the sales that were made to customers on credit. A date is usually agreed upon when they will have to make payment.

Accounts payable

These include all debts owed by the company to suppliers and business partners.

There are other terms like revenue, income taxes, administrative and accruable expenses which you have probably come across at one time or the other.

There are two methods of taking accounting information. It is either with accounting software or a journal. All the accounts of the company are usually stored in a ledger. It is from this general ledger that all financial statements are made. Examples of financial statements include balance sheet, income statements, cash flows, disclosures and so on. Since this is an introductory text, we will not be looking into all these terminologies. By now you should have ground knowledge of what accounting is all about.



contact-your-accountantThe problem of tax return lodgement is not that problem for you anymore. No matter, if your data is scattered and work is blended your accountant provide you with the possible solutions. Find a recognized company to assist you and provide a way to get your your tax back. The company have an organized system where professional accountants with a wide range of experience and practical experience guide their clients to get through the process fast and easy. Accountants deal with all kinds of tax returns. The aim of the company is to ensure its clients that their work is done effectively and on time without any hurdle. Accounting companies below work for the people in many countries with office locations reachable almost from anywhere. The clients can also get in touch with them online or by phone:

  • if you are in USA:

HR Block – Tax Return New York

  • if you are in Australia:

City Tax Accountants – Tax Accountant Circular Quay

How to Start The procedure?

The client take all the documents for which he wants to pay the tax returns to the branch of  Accountant. A tax return being processed in which the client is told what sort of discounts he can acquire in paying tax returns, which tax returns can be waived off and what are the deadlines to pay the tax returns without paying any penalty. Afterwards, the branch explain his case to senior tax agent who check all the files required for tax returns. If you live in North Sydney, the Tax Accountant North Sydney expert prepares a tax return in which he checks out the form of tax to be paid, the current position of the client and the tax returns to be paid without penalties. After the check counts, the tax accountant compiles all the details and he sends the tax return for final authorisation.

What you are Paying For?

Professional Tax Accountant Barangaroo firstly ensures the confirmation of the client and when the work is done through channel then the company charges its fee. The fee is received once and there is no extra fee to be paid for any sort of work. In any case, the client can contact the administration of company. The amount of fee to be paid is affordable for all the clients and the fee is actually an investment for the client in a way that the client does not have any work load to manage the documents and to look into the minor details of the tax returns. The company instead of giving false hopes to clients can choose to tell them everything vividly in a straightforward way. If the client decides to proceed with all these things, then the company moves further to assist the client.

The company makes sure the following things for its clients:

  • The work is done on the given deadlines and the client is aware of the given deadlines.
  • The client is approved as a tax payer.
  • Ensures the client that he is aware when each of the step is carried out.
  • The client understands the account details in simple way.
  • The opinion of the client is considered or not.

The payment for the tax return barangaroo process is paid full without any delay.


The client to know about the basic required documents and he be familiar with the dates to lodge the tax returns with IRS or ATO. It is very effective for the client to know that Australian tax returns for the tax year beginning 1 July and ending 30 June of the following year are generally done on or before 31 October after the end of the tax year. The other things that are required are the declarations that are provided to be in approved form, the form to be filled with all the requirements and the approval of the lodgment in accepted manner. Moreover, if the client has any enquiry with the office, then the client is supposed to let know the company about the issue so that the company may contact the office on the behalf of the client.

The client keep in mind that the tax returns to be paid are different depending on the varied circumstances.


  • Total income
  • Total tax return to be paid related to the income


  • Debt to ledge
  • Applied Surcharge
  • Repayment


  • Credits on tax
  • Refunding of off-sets of tax
  • Non-refunding of off-sets of tax

Final Equation:

After all the changes are made, the company prepares the final equation for the client which depicts that what is the amount that be paid and what would be the amount that is refundable to the client. In this way, the client receives the final result by making things easier for him.


There are few things on which tax returns are deducted. These are usually overlooked by most of the people. The deducted returns give big effect to the taxpayer as it allow him to take back the money spent on work related expenses in one way or another. The tax return deductions are applicable on the following things:


Travelling is an everyday expense which is carried out by everyone who works in occupation that requires moving from 1 work place to another work place. The equipment used in travelling and the vehicle count in this case.

Home Expenses

The things used in home for work related purposes count into the tax returns. These are the everyday expenses come in different categories.

Professional Accountants can provide many things by using their skills to give the customer what he pays for in easy and quick way . They can show the client how to deal with many deductions, how to manage records as evidence for spending money, how to pay the tax returns and provides a way to the clients to resolve their matter in difficult situation.

How to do your taxes Explained



Accounting is not usually the primary interest of most entrepreneurs. They are usually passionate about other things that they believe are more crucial to the growth of the business. The implication is that most business owners find it inconvenient interpreting the financial reports submitted to them every month. So long the money is coming in and the bills are being paid, there is no much use for any financial report received.

While it isn’t possible for everyone to become an accountant, there is a lot you can gain from a basic understanding of some accounting principles. You can still learn how to comfortably interpret a profit and loss statement and make strategic decisions to move your company forward. The purpose of this article is not to teach you how to become a pro in accounting. Instead our aim is to help you go beyond just filling financial statement but help you know about what you are filling and their significance.

Principles of financial accounting

Regardless of the kind of business you operate, every profit and loss statements are developed from the same simple accounting formula:

Profit = selling price – cost price

Your profit is the result you get after you must have subtracted cost from sales.

Very simple; isn’t it? Any other thing apart from the formula you see above is not a financial statement. You might probably be expecting to see something that fills up the entire line but it is actually very easy. You should expect see sales at the first half of the document while costs are represented in the later half. You will find subtotals in the document down the column. Every value or result you see is obtained using the simple formula above.

Sometimes the difficulty comes in the use of different words to represent profit, costs and sales. For instance, instead of sales, you may see income or revenue; costs may be replaced by expenses or expenditure and profit may be called gain or net income. Perhaps, it is the way these words are used inconsistently that makes accounting somewhat confusing. Don’t worry; sooner or later you will get a hold of them, after all, a lizard will always be a lizard, no matter the name you call it.

There are different sources of sales, thus you can break the sales you realize from your business into several sources. For instance, if your run a fashion design company, your sales may come from renting out clothes, selling from your outfits and sewing for individual customers which is more common. These three sources will make up the sales record of your company. The sales from each of them will add up to the total sales of the business. The same also applies to cost. The cost of running your company may comprise of payment for labor, raw materials, building, machinery, and overhead. All these components will be broken out separately added to give the total cost which appears at the bottom end below all the expenses made by the company. Mind you, the word “expenses” is no different from costs; just a little swapping to make you grab the concept better.

In order to make more sense, costs are divided into direct and indirect costs. Direct costs are those costs incurred directly from delivering your services or products while indirect costs are those associated with other expenses arising from daily operations of the business. Using the fashion design company as an example again; the cost of the clothing materials used for making various cloth designs, the cost of labor and that of the machines and equipment all make up the cost of goods(clothes) sold because they can be directly linked with the complete designed clothes. Cost of service is associated with business that offer some sort of services. Both cost are abbreviated as COG and COS respectively.

When the value of sales is subtracted from cost of goods or service, gross profit or gain is obtained. In simple terms, this is the money you get after you minus the cost of delivering service or goods from the total money you make. It is from this gross profit that you pay for your bills and other cost incurred from the daily operations of the business.

Other costs that are not directly linked to the production of your fashion design wares may include payment to security operatives, accountants and marketers. All these cost will then be subtracted from the gross profit to give the net profit. This is how a profit and loss statement is usually presented. Take time and go throw the document again if you find anything confusing. A basic understanding of your business financial statements will enable you run your business more successfully.…

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