Tax Planning Articles
Tax Planning Articles
Tax Watch
Finding Real Estate and Construction Talent – and Keeping It
DMJ & Co., PLLC discusses the challenges surrounding employee retention as experienced employees approach retirement.
read moreU.S. Expats May Still Owe Taxes
Many former American citizens who live outside the U.S are not aware that they still may owe U.S. taxes. To remedy this situation and collect back taxes, the IRS released the Relief Procedures for Certain Former Citizens in September 2019. It provides certain expats with relief for back taxes and the chance to comply with their U.S. tax and filing obligations.
read moreConsider These Top 5 Accounting Process Improvements for 2020
As the 2019 year-end approaches, this is an excellent opportunity to evaluate whether you could be, maybe even should be, getting more from your financial data.
read moreIs Your Manufacturing Business Prepared for an Economic Downturn?
DMJ & Co., PLLC shares insights on preparing your manufacturing business for a prospective economic downturn in 2020.
read moreBusiness Meals and Entertainment Limitation Exceptions
The law known as the Tax Cuts and Jobs Act (“TCJA”) made several changes to deductions for meal and entertainment expenses paid or incurred after 12/31/2017, an area that affects a majority of businesses. Certain expenses that were previously either 100% or 50%...
read moreWhat Are My Options for Setting Up My Business?
DMJ & Co., PLLC shares insights and suggestions for different ways to set up a business.
read moreSchedule C Form 1040 Filers Beware: The IRS Is Monitoring Your Deductions
DMJ & Co., PLLC shares six triggers that may cause the IRS to scrutinize your Schedule C Form 1040.
read moreMid-Year Tax Planning- Things to Consider
As we cross the mid-point of 2019, take a few moments now to consider your 2019 income tax situation, and what you can do to improve it now. Many of the traditional planning ideas either no longer work, or have changed notably under the Tax Cuts and Jobs Act of 2017 (the “TCJA”). The result of a focus on planning now can be a better outcome with your 2019 tax filings done early next year.
read moreWhy Did I Owe Tax this Year?
The 2018 filing season has come to a close, and there were many changes that affected the 2018 tax liability of every taxpayer. The reason is the largest tax overhaul seen since 1986, the Tax Cuts and Jobs Act of 2017.
read moreIRS Releases Additional Guidance Related to Qualified Opportunity Zones
On April 17, 2019, the IRS released additional guidance (Reg-120186-18) related to gains that may be deferred as a result of a taxpayer’s investment in a qualified opportunity fund (“QOF”), as well as special rules for an investment in a QOF held by a taxpayer for at least 10 years. The guidance also provides updates to previously issued proposed regulations.
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