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Archive for the Accounting Category

How to Survive a Worker’s Comp Audit

If you have employees, you have the distinct honor once per year of being part of a worker’s compensation audit.  You likely receive a form in the mail, an email request, or a phone call that will ask you about your payroll numbers and employees for the

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How to Cut Costs with Fixed Assets Management

Fixed assets are special kind of assets in your business. They include land, buildings, equipment, furniture, and vehicles that your company owns. While we frequently look at expenses to cut costs, fixed asset management is another place we can look to find ways to better utilize our

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Three Tips to Maximize Your Social Security

Social security is one of those topics that seems to be minimized by statements like, “You can’t count on it,” and “By the time you reach retirement age, it won’t matter.” Those statements are not only incorrect; they contribute toward a lack of education on what’s possible.

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How to Read Your Income Statement

The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance of your business over a period of time, such as a month or year. You might also hear it called the Profit and Loss Statement,

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Boost Your Accounting Know-How with These Terms

The field of accounting has its own vocabulary, which can sound like a foreign language to some people. Your financial savvy will increase by learning a few new accounting terms. You’ll be “speaking accounting-ese” in no time, and you’ll become a smarter entrepreneur too. Trial balance A

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The Perfect Chart of Accounts for Your Business

Your “Chart of Accounts” is the list of accounts in your accounting software.  The accounts are listed in your reports, and the totals allow you to determine how much you’ve spent, made, own, or owe depending on the type of account. It’s essential to create a list

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EQUIFAX Cybersecurity Breach

Were You Impacted? Equifax Inc. (NYSE: EFX) announced recently that the cybersecurity firm Mandiant has completed the forensic portion of its investigation of the cybersecurity incident disclosed on September 7 to finalize the consumers potentially impacted. The completed review determined that approximately 2.5 million additional U.S. consumers

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Social Security and Retirement Planning

Social Security Benefits were never set up to be the “sole” source of retirement benefits, but to be the foundation from which to build. On top of the foundation of social security benefits it was expected that most Americans would receive some type of pension benefits, have

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5 Biggest Business Mistakes Most Small Businesses Make… and What to Do About Them

Not Thinking BIG!! Too much emphasis is placed on the daily tasks of running the business. Small business owners perform several tasks that can take up an enormous amount of time in their daily schedule. There’s always a struggle to balance a schedule that includes sales and

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Five Numbers You Should Know About Your 2016 Performance

Before we get too far into 2017, let’s take a look back at 2016 results and five meaningful numbers you may want to discover about your business’s performance. To start, grab your 2016 income statement, or better yet, give us a call to help you compute and

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Frazier Gills, P.C.

400 S. Zang Blvd. Suite 330 Dallas, TX 75208

Phone: (214) 337-5000
Fax: (214) 337-5030
fgacontact@fraziergills.com

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