There is often confusion when it comes to knowing what constitutes items that can be tax exempt or tax-deductible. Whereas, depending on your location, are a few items that are certainly easy to understand. For example, in NYC, uncut bagels are tax exempt while sliced bagels have 8.875% sales taxed as it counts as prepared…
It is found that a business owner or CEO will often bypass the business balance sheets in favor of the income statement and profit and loss statement. As the income and profit and loss statements are important and can help provide needed information of the business’ financial state, the balance sheet is another important document…
Amending your tax return is basically sending the IRS a new tax return, correcting errors made on the last tax return you filed for that year. Though it is not advised, you technically can amend more than once. If there was anything wrong with the last one, amend your tax return. Where some vital facts…
You want to make sure that when you are taking care of paying employees you have a plan on how to do track it properly. Being able to track and take care of the money that is coming in and out of your business is an important aspect. Many people choose to have their payroll…
Handling your money with wisdom can seem like a full time job. Making smart choices with your money can have a big impact on your long term wealth. Some decisions you make may seem like they are inconsequential when in reality, they may be keeping you from achieving wealth in the long run. Mark Dicus…
When you think about the different professions that are available in the world today you probably have some sort of an idea about what you think it might be like to have that job. You are not alone. If you bring up lawyers in a group someone is bound to crack a joke about lawyers.…
Taxes is one of the aspects of running a business that can be easily disrupted and a number of mistakes occur leaving the business in a major tax predicament. Understanding and filling taxes properly is essential or you may find yourself facing the IRS and your business could be on the verge of collapsing. To…
Being a small business during a pandemic happens to be one of the hardest things that most have ever seen. The pandemic has stopped many businesses from operating for many weeks and even months. This time that a small business has not been able to sell their product or service has a major ripple effect…
When you own and run a small business, you may be missing out on some deductions if you aren’t aware of the costs you can deduct. It is important to know what deductions you can make so that you can plan for them by saving receipts and keeping the records needed to deduct legally. It…
Does your business need help maintaining and keeping better track of the books? One of the first steps in accounting is maintaining the business books to ensure the all of the financial data is correct. For those who find that they need help keeping better track of their books, Mark Dicus & Company will share…
