If you are like most people, you are looking for as many tax deductions as possible since that is what will lower the amount of money you earn that is subject to federal income tax. A deduction will also lower the amount of money you owe if you end up in that position come tax…
The year 2020 has been challenging. With unemployment at an all-time high and many businesses struggling to survive, the last thing we need to worry about is changing tax laws. While it’s certainly true that most changes in tax laws don’t typically benefit taxpayers, there are some changes that you could find beneficial this tax…
When you want to start a business you will have a number of different business organizations to choose from. You will need to step up your business to align with your company’s service and goals. There are certain aspects of a business that will determine which business you will fit under. There are four major…
With the end of the year quickly approached, there is no better time than now to think about ways to lower your tax bill. As you plan for the end of the year, you will also be reflecting on how the pandemic has affected your business finances. There are several new tax rules that you…
With all the challenges that we have faced this last year, it leaves many people in a completely different financial situation than they were in at the beginning of the year. COVID-19 has been devastating for many people and could leave them wondering where that leaves them as far as their taxes go. Mecham Dicus…
When COVID-19 took over the country this last March, kids and parents alike were required to stay home from school and work unless your job was deemed essential. The burden it placed on families has been outstanding. Here we are now in the middle of a new school year and many children are still at…
For any business that sells products or materials should know about Contribution Margin. Understanding how contribution margins work can help a business not just break even, they can make a profit. A business should not lose money selling products or only break even. A business cannot thrive on those principles. Mecham Dicus & Company would…
For most people, any mention of the IRS just fills them full of dread. No matter how much you dread any contact with the IRS, there are certain situations that their contact can work to your benefit. For instance, this spring, there were checks and cards that were loaded with COVID-19 relief funds. The only…
As the year comes to a close, many people are thinking about their taxes that are due in the beginning quarter of next year. As you get your taxes ready for filing, people are gathering their credits and deductions that will give them the best tax return in the 2021 year. If you don’t understand…
The decision to sell your business should never be rushed and requires a team of experts working on your behalf to ensure you receive the best outcome. Some of the considerations your team will prioritize for you include making as much profit as possible while saving you money and keeping the transaction as secure and…
