Dichoso Group of Companies

05/08/2021

We are not a multi-billion dollar CPA firm, but we sure act like one. Our Dichoso and Company, CPA, Inc giveaway items like T-shirts, carryon bags, candies, pens, and writing pads are as enticing and demanding to many of our clients and staff. Here is a picture of our giveaway company caps in front of KPMG’s own candy box and cup giveaways. We are the “David” and KPMGs are the “Goliaths”, but regardless the company size, both of us provide the very best in customer care, trust and professionalism that our customers deserve.

We are not a multi-billion dollar CPA firm, but we sure act like one. Our Dichoso and Company, CPA, Inc giveaway items like T-shirts, carryon bags, candies, pens, and writing pads are as enticing and demanding to many of our clients and staff. Here is a picture of our giveaway company caps in front of KPMG’s own candy box and cup giveaways. We are the “David” and KPMGs are the “Goliaths”, but regardless the company size, both of us provide the very best in customer care, trust and professionalism that our customers deserve.

04/07/2021

Our company branding kits. Investment in our image has really paid high dividends of client satisfaction, loyalty and trust over the years. We don't need to advertise because our clients do it for us via word-of-mouth accolades and outright referrals. We thank you.

Our company branding kits. Investment in our image has really paid high dividends of client satisfaction, loyalty and trust over the years. We don't need to advertise because our clients do it for us via word-of-mouth accolades and outright referrals. We thank you.

03/15/2021

For the second year in a row, our accounting firm has been selected the winner for 2021!

“The Beverly Hills Award Program was created to honor and generate public recognition of the achievements and positive contributions of businesses and organizations in and around Beverly Hills. Our mission is to raise the profile of exemplary companies and entrepreneurs among the press, the business community, and the general public.”

For the second year in a row, our accounting firm has been selected the winner for 2021!

“The Beverly Hills Award Program was created to honor and generate public recognition of the achievements and positive contributions of businesses and organizations in and around Beverly Hills. Our mission is to raise the profile of exemplary companies and entrepreneurs among the press, the business community, and the general public.”

02/26/2021

People You trust

Business Startups, Success or Failures - Seek Help with Business Advisors You Trust Most

01/28/2021

WASHINGTON ― The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

While this gives you more time to prepare, our firm encourages all our clients to still submit your information to us as soon as possible due to the volume of clientele and ongoing client cases. Please contact our office directly on how we can securely and safely use technology to transfer files and communicate while complying to COVID19 safety protocols.

WASHINGTON ― The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

While this gives you more time to prepare, our firm encourages all our clients to still submit your information to us as soon as possible due to the volume of clientele and ongoing client cases. Please contact our office directly on how we can securely and safely use technology to transfer files and communicate while complying to COVID19 safety protocols.

12/07/2020

11/13/2020

News & Trends:

58%. The # of people who said they will stop using cash after the coronavirus pandemic ends. [Travis Credit Union]

33%. The number of small-business owners who said they were not confident they could recover from a cyberattack. [Nationwide]

5,500+. The number of Chapter 11 bankruptcy filings as of October 2020, 1/3rd higher that in the first three quarters of 2019. [Epiq]

88%. The number of small business owners who view CPAs as their most trusted business advisors. [CPAPracticeAdvisor]

10/31/2020

Our signature mint candies have been our customers’ favorite office attraction for many years. Please have a safe Halloween.

09/24/2020

09/12/2020

08/29/2020

08/24/2020

08/19/2020

Sam Woo restaurant owner pleads guilty to multimillion-dollar tax and insurance fraud scheme

Let us help you establish the right business mindset and strong accounting systems to avoid fraudulent accounting and business practices. It all begins with proper and accurate accounting - the Lifeblood of all businesses. Why risk years of your hard work and success for jail time? These stories are not at all uncommon...a good read. https://la.eater.com/2020/8/18/21373831/sam-woo-restaurant-owner-gary-cheung-tax-insurance-fraud-guilty?fbclid=IwAR1cWekHqQVItWnTdPL7HtjMAWUVXOvehEUtwXwjZG_IDYYbZxgG5pdQN0A

Gary Cheung will be sentenced to years in prison and is required to pay nearly $3 million in restitution

08/10/2020

Defined by Wikipedia: "Peer Review is the evaluation of work by one or more people with similar competencies as the producers of the work (peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field. Peer review methods are used to maintain quality standards, improve performance, and provide credibility."

Defined by the American Institute of Certified Public Accountants (AICPA): "When a CPA firm receives a report from the peer reviewer with a peer review rating of pass, the report means that the system is appropriately designed and being complied with by the CPA firm in all material respects."

Sharing to our clients, associates and friends our most recent peer review report - receiving the highest “pass” score. Independent results like these maintain the highest confidence and trust our clients have for us for many years. And hopefully, many more years to come. Thank you for the outstanding ethics and professionalism of all our staff that make this possible.

08/06/2020

Did you know that the risks of getting a sales tax audit administered by your state is much higher than the risk of being audited by the IRS?

Sales tax rules and regulations are a whole different world than the federal income tax laws you are most worried about. Businesses in various industries have unique sales tax compliance issues: auto repair and garages, cannabis, graphic design, printing and publishing, grocery and retail stores, leasing, restaurants, and even simple business activities as selling products via the internet in your own home. Especially during this current pandemic, states are looking into additional means to bring in extra revenue. Avoid potential civil and criminal penalties.

Our firm has represented clients in many federal, state, labor and local audits with favorable results, with one audit resulting in more than $1.2 million of debt cancellation. Give us a call for consultation.

08/03/2020

We are minority-owned ourselves. And we like to also share success stories of other minorities who have faced extreme struggles in their earlier lives. A former teen gang member from Ghana, Mr. Jeff Badu, CPA made a life changing decision to protect his family's future. With persistence, motivation, and perseverance, he earned his undergraduate and post-graduate accounting degree at the University of Illinois. He made his first million as a CPA at only 25 years old. Now he runs a successful multi-million dollar CPA practice, owing several other related companies and making positive differences in peoples lives. Read his story at Black Enterprise Magazine [August 1, 2020 issue]. #BlackLivesMatter

07/29/2020

“One cannot overemphasize the important role accountants play in the business world…” [Forbes, April 2019]. Let us help you create YOUR success story!

07/20/2020

"Despite Coronavirus, It's a Great Time to Start a Business." [U.S. Chamber of Commerce, June 2020]. Contact us for assistance in helping you succeed despite these trying times.

06/29/2020

06/13/2020

Dichoso Group of Companies

06/10/2020

06/09/2020

Hiring? Here's what you need to know.

06/01/2020

Dear Clients, Friends and Colleagues:

To ensure the safety of the community, please note that the City of Beverly Hills has established curfews for the City's Business District and Citywide on June 1 and 2, both beginning and 1 PM. These curfews end the following day at 5:30 AM.

The Business District curfew encompasses the Business Triangle (including Rodeo Drive), South Beverly Drive, Robertson Boulevard and La Cienega Boulevard.

The Beverly Hills Police Department is fully staffed and actively patrolling the entire City including residential neighborhoods. The curfews prohibit anyone from being upon public streets, sidewalks, alleys, parks or any public place.

While our staff continue to work remotely due to "stay-at-home" ordinances, we encourage our clients, friends and colleagues to contact us via our general office email at: [email protected]. Your emails will be routed to the appropriate staff.

We have been happily serving our clients from around the world for nearly 20 years. From the management and staff, please stay safe.

05/31/2020

WE ARE SAFE! We thank all of our clients, friends and associates who have constantly communicated with us by text and telephone calls throughout last evening (Saturday, 5/30/20) as the peaceful protests-turned-violent within our city of Beverly Hills.

We are happy to announce that our building lobby is intact (pictured), although the famous Beverly-Wilshire Hotel and retail shops along Rodeo Drive (which are just 3 short walking blocks west from our Wilshire Blvd office) have suffered damages and looting, including fires set on several police cars.

While we support the social causes of protestors across the nation as the result of the death of Mr. George Floyd in Minneapolis, we standby free speech in peaceful fashion.

The management and staff of the Dichoso Group of Companies continue to support the many businesses already financially struggling during this pandemic, and we now begin to support the cleanup efforts of our beautiful city and adjacent businesses. (5/31/20)

05/26/2020

05/23/2020

How do you run a family business? Personality Conflicts. Divorce. Conflicting Business Strategies. Your business structure may be unsuitable for your own family. Find out if a family limited liability company (LLC) may be for you, and protect the growth of your business for future generations.

05/14/2020

Do you have what it takes to be the next CPA rising star? The American Institute of CPAs (AICPA) will be holding its annual leadership academy, recognizing young emerging leaders (between 25-35 years old) in the accounting profession from October 4-8, 2020 in Durham, NC. Will you be this next generation's most trusted business advisor or the next billionaire founder of another company, following the footsteps of:

Arthur Blank, CPA (Co-Founder of Home Depot and Owner of Atlanta Falcons)

Walter Diemer, CPA (creator of the bubble gum)

Phil Knight, CPA (co-founder of Nike and board member of various Fortune 500 companies)

J.P. Morgan, CPA ( J.P Morgan Investment Banking)

Walter Morgan, CPA (pioneer of the mutual fund industry and founder of Wellington Fund, 2nd largest mutual fund in the world)

Celebrities Kenny G, Janet Jackson, Mick Jagger, Led Zepplin’s Robert Plant, and Bob Newhart came from an accounting background.

Please visit the AICPA website to register and/or nominate.

05/13/2020

The U.S. Department of Treasury and Small Business Administration (SBA) have promised the government will audit all recipients of Paycheck Protection Program (PPP) loans over $2 million who seek loan forgiveness. So, the question is not if, but when, an audit is coming.

Our office is available for consultation on SBA PPP loan audits as well as offer various audit prevention techniques against many other types of audits: IRS, state, local and third parties.

05/07/2020

“The message to America is simple. Desperate people do desperate things.”

Under today’s financial pressures of COVID19, fraud is on the rise. From various unsolicited phone calls and phishing emails such as telephone scammers disguised as IRS or Social Security Administration agents, to hoarding and price gouging of scarce and critical medical supplies by store owners, and to falsely applying for SBA’s new “Payroll Protection Programs”, these criminal acts are committed due to desperate times. On 5/5/20, two businessmen were arrested on charges of creating false documents on their loan applications on behalf of their “employees” of three restaurants of which they never owned nor had these employees actually exist!

In a nutshell, factors that contribute to fraud are: increased pressure, increased opportunity, increased rationalization. Under today’s pandemic environment, all of us are facing unprecedented financial pressures and may be tempted to do desperate things.

So how can our firm be one of several resources to help you minimize your businesses susceptibility to fraud? As experienced outside auditors to businesses as well as representing clients in their audits against the IRS, state, sales, and other various government agencies, we provide fraud prevention consultation, and implement fraud minimization and prevention strategies and techniques for businesses. For nonbusiness individuals, we are current of various public fraud screams that anyone may be subject to.

To help our community during these times of crises, we’d be happy to provide you with valuable information of common fraud schemes the public should be wary about at no charge.

For businesses who do need to strengthen their internal controls to implement fraud prevention policies and procedures, we provide those services for a fee. Don’t let your business be a victim of fraud as it can contribute to lost revenues, increased audits, and potential criminal and civil liabilities.

04/30/2020

The Small Business Administration (SBA) resumed accepting Paycheck Protection Program (PPP) applications from participating lenders recently on Monday, April 27, 2020. The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Calculations for the application and subsequent recordkeeping requirements are complex to provide proof that your loan will be forgiven.

To emphasize, this PPP program is a loan and unless your business can provide proof that it was spent for these specific, qualified expenses, then the amount of the loan will be forgiven. For all businesses types (sole-proprietorships, partnerships, corporations, and LLCs), which includes independent contractors, our firm offers advisory services to help you during this crises.

04/27/2020

A look back at where we started – a picture of our first office. On April 27, 2014, the City of Beverly Hills celebrated its 100th year anniversary. The Dichoso Group of Companies was honored to be part of its historical celebration as our very first office opened in 1999 on the corner of Wilshire Blvd and Rexford Drive. As an active member of the Beverly Hills Chamber of Commerce, supporter of many community events and social causes, and the development of relationships among neighboring businesses and residents throughout the years, we are proud to have recently been awarded “Best of 2020”. But most of all, thanking our loyal clients, colleagues and friends for their confidence as “the most trusted business advisors.”

04/21/2020

Did you know?

That it was the CPA profession that led the way in creating of what is now the unprecedented SBA’s “Paycheck Protection Program”?

Even Washington insiders say, the AICPA has taken an early and forceful leading role in rescuing small business owners and employees. CPAs are the financial front liners of COVID19.

"The association [AICPA] put together a coalition that went to the Treasury, the SBA, to banks, to Congress, and said, We need to find a way to get businesses – small business – back in business, as soon as this is over. And they formed, if you will, the basic ideas. What came out is the PPP plan [the Small Business Administration Paycheck Protection Program], which is going to put eight weeks of salary in the hands of the worker around the country." [Bill Reed, CPA, AICPA Chairman. “CPA Trendlines” article, 4/21/20]

04/20/2020

We all know about the various government grants and loan packages just released by the Small Business Administration (SBA), with another proposed ½ trillion dollars expected to be approved by Congress by the end of this week. But if you’re worried that these federal funds may run out again as a business owner, where can I seek additional funding?

Small businesses are the foundation of our communities and our economy. Employing nearly half the American workforce, they keep our neighborhoods running and make them feel like home. The impacts of the coronavirus pandemic have wrought unprecedented financial uncertainty. These businesses need resources and relief — and they need it now.

That’s why the Save Small Business Fund, a grantmaking initiative funded by contributions from corporate and philanthropic partners, is providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between three and 20 employees and operate in an economically vulnerable community.

The grant application will go live on Monday, April 20 at 12:00 PM PT/3:00 PM ET. To learn more about the Save Small Business Fund and to apply for a grant, visit savesmallbusiness.com.

The Dichoso Group of Companies continue to remind you to practice safe physical (not social) distancing. Use the latest in communications technology to keep in touch with those you love.