Noel Dalmacio

CPA, CFP, MS Tax. Dalmacio Accountancy. We assist business owners, professionals and real estate investors in growing their business and increase their wealth.

[Noel Dalmacio @NoelDalmacio]

Enjoy Your Weekend! “In the middle of every difficulty lies opportunity.” ―Albert Einstein

[Noel Dalmacio @NoelDalmacio]

Self-employed workers need to account for FICA taxes. In addition to your income taxes, remember to also account for your Social Security and Medicare taxes.

[Noel Dalmacio @NoelDalmacio]

Passive Income includes income derived from such sources as dividends, interest, royalties, rents, amounts received from personal service contracts, and income received as a beneficiary of an estate or trust.

[Noel Dalmacio @NoelDalmacio]

You can choose how your LLC is taxed—either as a sole proprietorship, partnership, or corporation—depending on your needs.

[Noel Dalmacio @NoelDalmacio]

Fast Fact: LLCs combine the liability protection of a corporation with the tax flexibility of a partnership.

[Noel Dalmacio @NoelDalmacio]

Enjoy The Weekend: Genius is the ability to put into effect what is on your mind. -F. Scott Fitzgerald

[Noel Dalmacio @NoelDalmacio]

“LTD” is the abbreviation for “limited company.” A limited company is a type of corporation that limits the personal liability of the corporation's shareholders.

[Noel Dalmacio @NoelDalmacio]

Tax Planning 101: As an asset is depreciated, it loses value. The Book Value shows the original value of an Asset, less any accumulated Depreciation.

[Noel Dalmacio @NoelDalmacio]

Wellness 101: Staying active is one of the most important wellness habits after 65, and even light daily movement like walking, stretching, or strength training can help improve balance, mobility, and overall energy levels.

[Noel Dalmacio @NoelDalmacio]

Tax Planning 101: “The Accrual Basis” is a method of accounting that recognizes revenue when earned, rather than when collected. Expenses are recognized when incurred rather than when paid.

[Noel Dalmacio @NoelDalmacio]

Enjoy Your Weekend: "We know what we are, but know not what we may be."

[Noel Dalmacio @NoelDalmacio]

A ”Complex Trust” is a trust that is to be distinguished from a simple trust in the fact that it permits accumulation or distribution of current income during the tax year and provides for charitable contributions.

[Noel Dalmacio @NoelDalmacio]

Tax Planning 101: Double check your withholding and estimated tax payments to ensure you aren't having too much—or too little—withheld from your paycheck.

[Noel Dalmacio @NoelDalmacio]

Fast Fact: “Net current assets” is the difference between current assets and current liabilities; another name for working capital.

[Noel Dalmacio @NoelDalmacio]

Liquidity 101: Available money on hand to pay bills when they are due and to take care of unexpected needs for cash.

[Noel Dalmacio @NoelDalmacio]

Enjoy The Weekend: “It is never too late to be what you might have been.”

[Noel Dalmacio @NoelDalmacio]

An "Earned Income Credit" is a tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.

[Noel Dalmacio @NoelDalmacio]

Even if your attention is focused elsewhere on your business, don’t forget and postpone doing your books! A business can only run smoothly with a proper understanding of your finances and good overall financial health.

[Noel Dalmacio @NoelDalmacio]

Revenue Recognition is a method of determining whether or not income has met the conditions of being earned and realized or is realizable.

[Noel Dalmacio @NoelDalmacio]

LIFO Liquidation is the reduction of inventory levels at year’s end below beginning-of-the-year levels for businesses using the LAST IN, FIRST OUT (LIFO) inventory method.