Tax Planning Articles
Tax Planning Articles
Tax Watch
TAX ALERT: Mileage Rates & Business Interest Deductions
The Internal Revenue Service issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. There are new business interest deduction limitations for companies with tax years beginning after 12/31/17.
read moreNew 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.
read moreDMJ Durham Adds CPA Tax Manager
DMJ & Co., PLLC (DMJ), a Top 300 North Carolina CPA firm, is pleased to announce that Jeff Marko, CPA has joined the firm as a tax manager in DMJ’s Durham, North Carolina office. Throughout his career, Jeff has worked with large multi-state C-Corporations, closely held S-Corporations and Partnerships, Sole Proprietorships, and high net-worth individuals.
read moreDMJ Announces Accounting Firm Professional Promotions
DMJ & Co., PLLC (DMJ), a Top 300 CPA and accounting firm, is pleased to announce the promotions of their accounting firm professionals in the firm’s Greensboro, Durham, and Sanford, North Carolina offices.
read moreDMJ’s e-blast December 2018
The December newsletter features articles on Real Property Like-Kind Exchange Planning and Family Leave Tax Credit. This newsletter also includes Market Updates, 2018 Year-End Tax Planning Guides, and additional DMJ News and Notes.
read moreTAX ALERT: 2018 Year-End Planning Guides
The purpose of the DMJ planning letters is to bring year-end tax information to your attention as the calendar year 2018 draws to a close. Please carefully consider these items and how they may affect you or your business. Do not hesitate to contact us for further clarification on any of these matters.
read moreDMJ & Co., PLLC Named a Fastest All-Growth Firm by INSIDE Public Accounting
DMJ & Co., PLLC (“DMJ”) has been named an INSIDE Public Accounting Fastest All-Growth Firm by a national publication serving the accounting profession. The Fastest All-Growth firms are ranked by the change in a firm’s net revenue from the previous reporting year, and includes both organic and revenue growth from mergers.
read moreDMJ’s e-blast October 2018
The October newsletter features Meals and Entertainment Deductions, Estate and Gift Tax Exemptions, and State and Local Tax Deductions. In this newsletter, DMJ welcomes Phyllis Tuttle & Ashleigh Anderson to the Greensboro office.
read moreSPECIAL TAX BLAST October 29, 2018
The IRS has issued proposed regulations and a related revenue ruling regarding the designation of certain low-income community population census tracts as Qualified Opportunity Zones (“QO Zones”), eligible for favorable tax treatment as created by the Tax Cuts and Jobs Act (“TCJA”).
read moreIRS Issues Regulations on Qualified Opportunity Zones
The IRS has issued proposed regulations and a related revenue ruling regarding the designation of certain low-income community population census tracts as Qualified Opportunity Zones (“QO Zones”), eligible for favorable tax treatment as created by the Tax Cuts and Jobs Act (“TCJA”). Since passage of the TCJA in 2017, many taxpayers have eagerly awaited guidance as to how to defer their capital gains into QO Zone property. The gain deferral incentive is aimed at encouraging economic growth and investment in businesses within the QO Zones.
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