There are two ways that the IRS categorizes your taxes, ordinary and capital gains. These two types of taxes are incredibly different from one another and it is important that you understand what each of them are. Getting a good understanding of these two types of taxes can help you prepare appropriately for tax season.…
There was a tax extension deadline for the 2021 tax year that was on October 17th. While many people were scrambling to get ready for that, there were certainly some people that more than likely missed it. This an leave you wondering what your next step should be. Mark Dicus & Company is here to…
As the story goes, there are two things that you can count on in life, death and taxes, right? While all of us are more than familiar with paying our taxes, there is a common worry among many that they will one day get audited. Now, we aren’t here to say that you will never…
When you own and run your own business, there are several things that you can write off. One of them includes any expenses that come from business travel. There are more than likely going to be times that you find yourself traveling for business and want to be able to take full advantage of all…
If you are like most people, your children are your pride and joy. While you can claim more than just your child as a dependent, children are usually the dependents that parents are claiming on their taxes. There are a number of different ways that claiming a dependent can help lower your taxes every year…
Whether you are gathering receipts and records for your personal or business taxes, you are going to want to keep them organized to help save you time when tax season rolls around. When it comes to keeping your record straight and your receipts organized, the IRS doesn’t tell you what system you have to use…
There are so many different things that you need to think about as a small business owner. You have to make sure you’re paying your taxes on time, you have to keep your inventory stocked, and you definitely need to make sure you are paying all of your employees on a schedule that works for…
If you work with several different vendors or subcontractors to keep your business running, it is important that you have them fill out a W-9 Form. Sometimes, for a number of different reasons, you may come across a subcontractor or vendor that refuses to fill one out for you. This can lead to panic. However,…
If you are a first time homebuyer that is lucky enough to find a house you can afford in our current crazy housing market, you may be wondering what that will mean for your taxes. This can be a life changing step in many different ways. One that many might not realize at first is…
When you own and run a small business, it can be easy to wear too many hats all at once. You can find yourself working around the clock and still not getting everything done that needs to be done. One thing that sometimes falls through the cracks is the bookkeeping. It is an easy thing…
