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

$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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Can You Deduct Your Club Dues?

Like many other enterprises, your business may pay club dues to one or several types of organizations. These dues may or may not be deductible, depending on the type of organization and its purpose. Your business generally cannot deduct dues paid to a club organized...

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Charitable Donations of Appreciated Stock

If you are planning to make a relatively substantial contribution to a charity, college, etc., you should consider donating appreciated stock from your investment portfolio instead of cash. Your tax benefits from the donation can be increased and the organization will...

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Deducting Rent Paid to a Related Party

In general, rent paid on business or investment property is deductible. In fact, the tax code does not even specifically state that the rent must be “reasonable,” as it does for other deductions. However, transactions between “related parties” typically come under...

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How Employee Expenses Are Deducted

You may be allowed to claim deductions for expenses you incur in connection with your employment. These expenses include those for local transportation (other than commuting), business meals and entertainment (at 50% of cost), travel away from home, supplies,...

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Credit for Employee Cash Tips

If you operate a food and beverage establishment with employees who receive cash tips, you may qualify for a credit. This credit relates to the Social Security taxes you pay on an employee's cash tip income which is treated (for tax purposes) as paid by you to the...

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