Resources & Links

For your convenience, DMJ provides an up-to-date library of insights, tools, resources, and special announcements related to all your tax and accounting needs. 

Resources & Links

Stay up to date with DMJ news, special announcements and upcoming deadlines.

Tax Watch

Code Section 179 Expense Election

Generally, the cost of property placed in service in a trade or business can't be deducted in the year it's placed in service if the property will be useful beyond the year. Instead, the cost is "capitalized" and depreciation deductions are allowed for most property...

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PCOR Fee Applies to Certain Health Plans

Under Obamacare (The Patient Protection and Affordable Care Act of 2010, a.k.a the “ACA”) a PCOR fee is applied to certain health plans. PCOR stands for “Patient-Centered Outcomes Research.”

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The Tax Benefits of Junior Family Members on the Payroll

As a business owner, you should be aware that you can save family income and payroll taxes by putting junior family members on the payroll. You may be able to turn high-taxed income into tax-free or low-taxed income, achieve social security tax savings (depending on...

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Basis Rules of Inherited Property

Under the fair market value basis rules (also known as the "step-up and step-down" rules), the heir receives a basis in inherited property equal to its date-of-death value. So, for example, if Uncle Harry bought Kodak stock in 1935 for $500 and its worth $5 million at...

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Deducting the Cost of a Home Computer

The deductibility of the cost of buying and operating a home computer, including related equipment such as printers, drives, scanners, modems, etc., depends on how you use the computer. Strictly personal use: As you might guess, you get no tax deduction when you use...

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$25,000 Loss Allowance on Rental Property

Rental activities generally fall into the category of “passive” activities. This means that rental losses you incur can be deducted currently only against passive income and not against nonpassive income, such as your wages or investment income. However, if you...

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Deductibility of Interest and “Tracing rules”

Unfortunately, not all interest that an individual pays is deductible. The rules for deducting interest vary, depending on whether the loan proceeds are used for personal, investment, or business activities. Interest expense can fall into any of the following...

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When Are Meals Fully Deductible?

Most of us are familiar with the stipulation that meals and entertainment for business purposes are 50% deductible.  You may assume that all meals and entertainment expense is subject to this rule.  However, this is not the case.  There are several examples of 100%...

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