Have you ever wondered exactly what an IRS audit is? An audit occurs when the Internal Revenue Service (IRS) chooses to review a taxpayer’s accounts to verify that tax laws are being followed. Audits aren’t very common. According to the IRS, only 0.6 percent of individual returns were examined in the 2017 fiscal year. You…
There are so many benefits that come from owning and operating your own small business. You no longer have to answer to a boss and can do your own thing with the freedom that many people dream of. Not only are you calling all the shots though, you are also in charge of all the…
It’s everyone’s favorite time of the year; tax season. This can be a difficult time of year if you are someone that is self-employed. Taxes can be a complicated mess, but if you have some tools and the right people to work with, you can turn this dreaded time of year into one that isn’t…
Whether you are new to owning a business or have owned and run a small business for some time, there are many aspects that play a role in the accounting side of the business you may be missing. These common mistakes can put your business in jeopardy. There are many mistakes that are made more…
For small businesses, one of the most vital aspects of running the business is to have great bookkeeping practices. With a pristine financial record, you will better manage debt, determine the source of profits, and handle deposits and receive credit. Without proper bookkeeping, many businesses will go bankrupt before the business has had time to…
Tax season is upon us. Do you expect to pay Uncle Sam or are you getting a refund? Either way, the right tax preparer can make all the difference. Tax preparers need to be on top of changing laws and any guidance issued by the Internal Revenue Service (IRS). You will need to determine the…
When running any business, taxes are a major aspect that requires proper planning. You don’t want to drown your business in government taxes. Therefore, you will want to know the ins and outs of tax strategies. For businesses big or small, Mark Dicus & Company will share the best strategies for managing your business taxes.…
