Dabbs, Hickman, Hill, & Cannon, LLP

Accounting Tip of the Week - Keep your bills in one place. Even if most of your bills arrive electronically, you still need a place for those that come by mail. And yes, some still do. Property tax and homeowners' insurance bills typically are paid on an annual or quarterly basis, so they generally arrive by mail. An occasional expense like a medical test may be billed the old-fashioned way. Keep the bills near your desk or wherever you normally write checks or pay bills online. A simple file cabinet or a couple of folders will do the job.

Settling an insurance claim quickly and accurately may require financial analysis or forensic investigation, especially when an ongoing business is involved. We can prepare a report or perform forensic accounting to facilitate settlement of a claim. Find out more here: https://lnkd.in/dP73VBM

Defining Confusing Personal Finance and Accounting Terms: Capital Gains. Capital gains refer to how much an asset’s value has increased from the time you bought it to the time you sell it. For example, if you buy stock at $5 a share and later sell it for $10, that’s a $5 capital gain.

Social Security fraud is one type of fraud that affects our seniors, and it can affect younger individuals as well. To protect yourself – and your senior friends and family, learn how these scams work and steps you can take to prevent it. Visit the Social Security website to learn more: https://www.ssa.gov/fraud/

Many small and mid-sized businesses do not have the personnel to process their own payroll or financial statements internally. Other organizations outsource these activities to reduce the reporting burdens on their staff. Dabbs, Hickman, Hill & Cannon, LLP can assist with these processes. We can handle as little or as much of the process as your needs dictate. Learn more -> https://lnkd.in/epj-DAFD

Defining Confusing Personal Finance and Accounting Terms: Credit Score. A credit score is a number that attempts to reflect a person’s reliability when it comes to paying back loans. A high credit score (which is good) means you regularly pay your credit card bills, student loan payment, or any other loaned cash back on time. Banks often use a credit score to determine whether or not to loan money to someone, and what the interest rate on that loan should be.

Fraud Prevention Tip of the Week: Make employees aware of your fraud prevention program. Awareness affects all employees. Everyone within the organization should be aware of the fraud risk policy including types of fraud and the consequences associated with them. Those who are planning to commit fraud will know that management is watching and will hopefully be deterred by this. Honest employees who are not tempted to commit fraud will also be made aware of possible signs of fraud or theft. These employees are assets in the fight against fraud.

Always remember. Never forget.

Defining Confusing Personal Finance and Accounting Terms: Compound Interest Compound interest is interest that’s earned and added to an account balance so that the interest, too, earns interest. Compounding speeds up earnings because, as your account balance grows, each new interest payment is based on a larger amount

A telemarketer faces a record FCC fine of $225 million for transmitting approximately 1 billion robocalls, many of them illegally spoofed, to sell short-term, limited-duration health insurance plans. The robocalls falsely claimed to offer health insurance plans from well-known health insurance companies. Caller ID Spoofing is when the number of someone you know – or another person or business – pops up, making you think it is who is calling when it’s really not. Here’s what you need to know about spoofing to protect yourself from being victim of a scam. https://lnkd.in/eGNm84p