In a clear and concise manner, financial statements present the financial activities and health of the business. Balance sheet, income statements, cash flow statements, and statement of retained earnings are included in an organized manner. As required by accounting standards that are used, further disclosures are made as per relevant laws and regulations, however. To…
If you are a working American then you know that each year you have to file your taxes. This is our responsibility to the place that we choose to call home. We also pay our part so that the country can continue to operate. There are some people that don’t think about taxes until the…
Small business owners like to do things themselves. Doing so helps to minimize costs and run a tight ship. If your business is successful, it will grow. When your business grows so will your responsibilities. There are lots of tasks you need to get done with limited time. This is when a DIY approach can…
The IRS shutting down your business is an understandable concern for small business owners. In addition to the personal sacrifices and the countless resources and long hours into your business, learning the IRS is taking your business can be devastating. There are some circumstances that can lead to the IRS shutting down your business. Not…
When it comes to your company payroll, there are many basics and intricate detail to ensure efficient and tax compliance. Having a trained and skilled professional taking care of the payroll is in your better interest. Today, we at Mark Dicus & Company would like to take the opportunity to discuss the benefits of outsourcing…
We took the time to share some common business mistakes that was part one of two, and today, we at Mark Dicus & Company would like to conclude with part two of two to help businesses avoid these common tax mistakes. Employee Misclassification Depending if you use independent contractors, employees, or a mixture of both,…
Accounting has many terms and definitions that all business owners should know to ensure success and a better understanding of managing their cash flow. As many accounting terms were covered previously, Mark Dicus & Company has a few more accounting terms we would like to cover. Continuing on from our previous post, below are some…
For a small or newer business owner, it is important to have a good understanding of business accounting to ensure financial success. With accounts, there are a number of different terms that are used that maybe the smaller or new business owner may not fully understand. To help ensure proper accounting, Mark Dicus & Company…
Most small business owners loathe the tax paying process. The only thing worse than the process is to find out that because of mistakes you made, you will now owe more money than you had intended. Sometimes these penalties can wind up costing you thousands of extra dollars aside from what you had calculated for…
When you are running a business you are responsible to keep records that account for your financial situation. You need to be able to account for what is earned and spent so that you can have your taxes done properly. If you are not accurately keeping your books up to date you can end up…
