The DMJ Digest
Insights and musings from the desks of DMJ professionals.
The DMJ Digest
Insights and musings from the desks of DMJ professionals.
3 Benefits of Written Exit Plans
Planning a business exit can seem like a lot of work at first. From building business value to developing capable successors to figuring out exactly what you want to do with your life after you leave, Exit Planning might look like too much work for one person to do. In our experience, Exit Planning isn’t something that business owners can tackle alone if they want to exit on their terms. But with so much to do, where can you start?
read moreDonor-Advised Funds
Donor-advised funds, though they may bear the donor’s name, are not separate entities, but are mere bookkeeping entries. They are components of a qualified charitable organization. A contribution to a charity’s donor-advised fund may be deductible in the year it is made if it isn’t considered earmarked for a particular distributee…
read moreNorth Carolina Unclaimed Property and Important Information You Can’t Afford to Ignore
You may know of someone who has received unexpected money or property from their state unclaimed property fund. This could have been from uncashed or lost payroll checks, dividends, rebates, insurance proceeds, utility deposits, bank accounts, or unclaimed stocks,...
read moreTax Lessons for 2018 after the Tax Cuts and Jobs Act of 2017
On December 22, 2017, President Trump signed the 2017 Tax Cuts and Jobs Act (“TCJA”) into law. Many of the changes took place just ten days later, beginning in 2018. Now that several months have passed, allowing tax professionals to digest the changes in this law, let us revisit some of these changes to see how they impact 2018 tax decisions…
read moreLong-Term Care and Medical Expenses
Deductibility of long-term medical care services. The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 10% of adjusted gross income (AGI). For 2018, the threshold is temporarily reduced to 7.5% under the 2017 Tax Cuts and Jobs Act.
read moreRenting a Home to a Relative
Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your operating costs. This is because you will be entitled to a depreciation deduction for your cost of the house or apartment (except for the portion allocated to the land). If your tenant is related to you, however, special rules and limitations may apply. (For these purposes “related” means spouse, child or grandchild, parent or grandparent, and siblings.)
read moreSusan Miller Graduates Leadership North Carolina Class XXV
DMJ & Co., PLLC, a North Carolina based CPA and accounting firm, is pleased to announce that Susan Miller, CPA, Tax Manager, has graduated from Leadership North Carolina joining the alumni Class XXV. The graduation was held on May 10 at the North Carolina State Capitol in Raleigh. Susan joined more than fifty classmates and leaders from across the state for the unique commencement in the former Old House Chamber…
read moreDMJ Wealth Advisors’ Features Mobile Upgrades on Client Financial Portal
DMJ Wealth Advisors, LLC, one of the region’s largest independent financial planning firms, is pleased to announce upgrades to the Client Financial Portal first introduced to clients more than a decade ago. The mobile version of the personal planning site currently...
read moreMilton Howell Elected President of the Greensboro Estate Planning Council
DMJ & Co., PLLC, one of the Triad’s largest CPA and accounting firms, is pleased to announce that R. Milton Howell III, CPA, CSEP, Partner, has been elected President of the Greensboro Estate Planning Council, an interdisciplinary organization for professionals involved in estate planning.
read moreDMJ Professionals Serve as Delegates to CPAmerica International’s 2018 Next Generation Conference
The accounting firm of DMJ & Co. PLLC has named several delegates to CPAmerica International’s 2018 Next Generation Conference to be held in Denver, Colorado on May 16-18, 2018. As part of the firm’s continued commitment to professional development, Andrew Steel, CPA of DMJ’s Greensboro, NC, office, Drew Haddock, CPA, of DMJ’s Sanford, NC, office, and Susan Miller, CPA, of DMJ’s Durham, NC, office attended as first-time attendees.
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