The DMJ & Co., PLLC Digest: A CPA Blog

Insights and musings from the desks of our professionals.

The DMJ Digest: A CPA Blog

Insights and musings from the desks of DMJ professionals.

DMJ Professionals Serve as Delegates to CPAmerica’s 2019 Next Generation Conference

DMJ & Co., PLLC (DMJ), a North Carolina accounting and consulting firm really knows how to make a splash! On Saturday, February 23 DMJ took the first leap into the icy cold waters of Wet n’ Wild Emerald Pointe for Special Olympics at the 2019 Triad Chill. A week of nonstop rain didn’t stop the hundreds of local schools, community groups, and individual polar plunge teams from participating. DMJ’s fundraising efforts resulted in $13,000 for Special Olympics with the event raising more than $45,000 in total for the nearly 40,000 athletes of Special Olympics.

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Triad CPA Firm “Polar Plunges” at the 2019 Triad Chill and Raises $13,000 for Special Olympics

DMJ & Co., PLLC (DMJ), a North Carolina accounting and consulting firm really knows how to make a splash! On Saturday, February 23 DMJ took the first leap into the icy cold waters of Wet n’ Wild Emerald Pointe for Special Olympics at the 2019 Triad Chill. A week of nonstop rain didn’t stop the hundreds of local schools, community groups, and individual polar plunge teams from participating. DMJ’s fundraising efforts resulted in $13,000 for Special Olympics with the event raising more than $45,000 in total for the nearly 40,000 athletes of Special Olympics.

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New Business Interest Deduction Limitations for Companies with Tax Years Beginning After 12/31/2017

The Tax Cuts and Jobs Act of 2017 revised and broadened the already in existence Internal Revenue Code “IRC” §163(j) business interest deduction limitation rules for companies with tax years beginning after December 31, 2017. The IRS released initial guidance on these new rules on April 2, 2018, with Notice 2018-28. And then on November 26, 2018, the IRS issued expansive proposed regulations (439 pages to be exact) which may be relied upon until the final regulations are published. Depending on the size and nature of your business, these regulations could have a significant impact on you and your business’s ability to deduct all interest expense incurred for 2018 and future tax years.

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