Dorsey and Company CPA's | Resource Center | Dorsey and Company CPA's
  • November 15, 2016

    A limited liability company is a most popular business type with budding entrepreneurs and startups because it’s viewed by most as a solid entity that can withstand and survive the tremors associated with starting a business. The survival rate of startups is incredibly low, and it’s estimated that for every 20 startups only about 5, graduate to limited liability companies. Most small business people …

  • October 30, 2016

    Here are a few retirement account options and resources briefly summarized below including the traditional IRA (which is an individual account and not a business plan). Individual Retirement Accounts (IRAs):You and a spouse may be able to contribute up to $5,500 each into an IRA account for 2016 ($6,500 if age 50 or over).  This includes both Traditional and Roth IRA’s for real estate …

  • October 26, 2016

    If you have a business then keeping the set of books accurately is substantial. Inaccurate business records not just make it difficult to file taxes or hamper the internal revenue system, but it also becomes problematic to get funding as investors or lenders do not entertain improper book keeping. Therefore, Quickbooks services are one such solution to get rid of inaccurate bookkeeping. It is …

  • October 14, 2016

    When it comes to taxes, real estate professionals have one thing going for them that no one else has: They can qualify for a special exemption from the IRS passive loss rules. This is an exemption that nobody else can get. If you qualify, you may deduct any amount of rental losses you have for the year from your non-rental income-such as real estate …

     
  • October 10, 2016

    “There has been a spike in tax-related ID theft, internet fraud and similar crimes. Small businesses, tax pros and individuals are primary targets. The IRS is acting to avoid losing tax revenues, warn taxpayers and help victims. The IRS is strongly advising tax pros to increase their defenses against various types of cyber fraud.” – This is a quote from the October 2016 issue …

     
  • October 6, 2016

    Of all the different forms of business, the sole proprietorship is the simplest. Because it is a one-person business, it isn’t constrained by the same regulations as larger corporations. If you have the next great concept and are motivated to chart your course with a carefully thought out business plan, you may well be on your way to business ownership. You needn’t have a …

  • August 27, 2016

    Every business should have a fraud prevention system in place that includes a solidly written fraud policy.  It is necessary to develop awareness within an organization such that a culture is developed around fraud prevention activities.  Everyone understands what to look for and how to report suspicious behavior.  Smaller businesses are especially vulnerable to fraud because they lack the resources to implement complete systems …

  • August 23, 2016

    I am proud and excited to inform you that I just passed the National Association of Certified Valuators and Analysts (NACVA) Exam and will soon be a Certified Valuation Analyst (CVA)! What does that mean for you? It means I and my company will be able to offer you certified business valuation services! Need to know how much your business is worth? We’ve got …

     
  • May 6, 2016

    Bookkeeping is essential for all businesses, and at times for individual people too. Put simply, bookkeeping is keeping a record of what money comes in or goes out on each day. As well as the amount and whether it’s earned or spent, a record of how it’s earned or spent should also be kept. It’s a good idea to keep receipts for all of …

  • May 5, 2016

    Hey everyone! Just sending out a blast to update you on some important changes going on in Arkansas! First up is minimum wage. Minimum wage changed on January 1 of this year to $8.00 an hour. It goes up the 1st of next year to $8.50 an hour. I want you all to be aware of this for budgeting purposes and tax purposes. The …