Yearly Archives: 2014

Popular Tax Breaks Extended for 2014

Posted on December 17 2014 by DMLO CPAs

On Dec. 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which the House had passed on Dec. 3. President Obama has indicated that he will sign the bill as soon as it reaches his desk. TIPA is the latest “extender” package, a stopgap measure that retroactively extends through Dec. 31, 2014, certain tax relief provisions that expired at the end of 2013. It was drafted after the collapse of negotiations over a bill that would have made some of the provisions permanent, while extending others for two years. Continue reading →

Posted in Featured, Firm News, Tax Bites | Tagged ABLE Act, Congress, HR 5771, IRS, Omnibus, President Obama, tax breaks, tax extenders, tax relief, tax season, TIPA | 2 Comments

AICPA Brings Accounting and Review Standards Into 21st Century

Posted on December 16 2014 by Breanna Kingsolver

Breanna Kingsolver, CPA, Supervisor The American Institute of Certified Public Accountants (AICPA) has issued Statement on Standards for Accounting and Review Services (SSARS) No. 21. Some analysts say this update is the biggest change to the accounting and review standards … Continue reading →

Posted in Assurance, DMLO Report | Tagged accounting standards, AICPA, AR-C 60, AR-C 70, AR-C 80, AR-C 90, compilation, financial statements, review, SSARS 21 | Leave a comment

Tax Breaks When Caring For a Parent

Posted on December 15 2014 by Vincent Mazzone

Vincent Mazzone, Senior Accountant Providing care for a parent, grandparent or other older relatives can be rewarding. But it can also be expensive. Fortunately, some federal tax breaks can help ease the financial strain. Claiming a parent as a dependent … Continue reading →

Posted in DMLO Report, Tax Bites | Tagged caregiver, claiming parent as dependent, dependent care credit, tax breaks, tax tips | Leave a comment

Important 2015 Dates To Remember

Posted on December 15 2014 by Ruth Ann Judd

The following is a list of important payroll and payroll related dates: By January 31 Furnish Forms 1099 and W-2. Furnish each employee a completed Form W-2, Wage and Tax Statement. Furnish each other payee a completed Form 1099 (for example, … Continue reading →

Posted in DMLO Report | Tagged 1096, 1099, 401(k), 8027, 940, 941, 944, annual filing, deferrals, Medicare, payroll tax, per diem, sales tax, Secretary of State, Social Security, W-2, W-3, W-4, wage limits, withholding | Leave a comment

IRS Target? A List of 23 Audit Triggers

Posted on December 15 2014 by DMLO CPAs

Many taxpayers ask: How can I avoid an IRS audit? There’s no 100 percent guarantee that you won’t be picked because some tax returns are chosen randomly. However, completing your returns in a timely and accurate fashion with your trusted … Continue reading →

Posted in DMLO Report, Tax Bites | Tagged audit triggers, IRS audit, red flags, tax audit, tax tips | Leave a comment

DMLO CPAs Acquires Healthcare Practice Consultants, LLC

Posted on December 1 2014 by DMLO CPAs

We are very pleased to announce the expansion of our service to the medical and dental community through the acquisition of Healthcare Practice Consultants, LLC (HPC). The successor to Service Bureau for Doctors, founded in 1930, HPC is believed to … Continue reading →

Posted in Featured, Firm News | Tagged Charles Thieman, CHBC, dental practice management, Healthcare Practice Consultants, HPC, medical practice management | Leave a comment

Individual Year End Tax Planning Ideas

Posted on November 24 2014 by Stephen Kraft

As we approach year end, it’s again time to focus on last-minute moves you can make to save taxes — both on your 2014 return and in future years. Here are a few ideas. Maximize the benefit of the standard … Continue reading →

Posted in DMLO Report, Tax Bites | Tagged tax tips, year end tax planning | Leave a comment

It’s Time To Go SHOPping: Navigating the Small Business Health Options Program Marketplace

Posted on November 24 2014 by Steve Custer

Small companies have another option for providing workers with health insurance: the Small Business Health Options Program (SHOP) Marketplace. Marketplaces, which are run by individual states or the federal government, were created through the Affordable Care Act (ACA). For 2014, … Continue reading →

Posted in DMLO Report, Employee Benefits | Tagged ACA, Affordable Care Act, health insurance, health plan, healthcare, marketplace, Obamacare, SHOP, small business health options program marketplace | Leave a comment

DMLO CPAs Offers Complimentary Online Estate Guide

Posted on November 17 2014 by Nick Porter

DMLO CPAs is now offering a complimentary online Estate Guide – a valuable resource for individuals who are interested in learning more about estate planning or have questions about how the process works. With the lifetime exemption rising from $600,000 in … Continue reading →

Posted in DMLO Report, Firm News | Tagged estate guide, estate planning, estates, trusts | 1 Comment

DMLO CPAs Announces New Hires, Promotions

Posted on October 6 2014 by DMLO CPAs

One benefit of having an award-winning workplace is the quality of people that we are able to attract and retain. People who don’t want to spend their energy and hours where statistics like billable hours are the most important goal, … Continue reading →

Posted in Firm News | Tagged award-winning workplace, Louisville CPA, more than the numbers, new hires, promotions, Sloan award, top workplace | Leave a comment

DMLO CPAs Announces New President

Posted on September 29 2014 by DMLO CPAs

At our annual State of the Firm staff meeting, current President Jennifer Hughes announced that she will be ‘passing the baton,’ as she described it, to Director Chris Ward, as part of a planned rotation in leadership roles. Chris, age … Continue reading →

Posted in Featured, Firm News | Tagged Chris Ward, Jennifer Hughes, managing partner, new leadership, president | Leave a comment

Renee Gehring Earns Certified Fraud Examiner Credential

Posted on September 22 2014 by DMLO CPAs

The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, recently awarded Renee Gehring the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Renee passed … Continue reading →

Posted in Firm News | Tagged ACFE, certified fraud examiner, CFE, forensic accounting, fraud, Renee Gehring | Leave a comment

DMLO CPAs Wins National Workplace Award

Posted on August 27 2014 by DMLO CPAs

From the Families and Work Institute: Smart employers aren’t sitting back and letting burnout, work-life conflict, the skills gap or a host of other workplace challenges impact their bottom lines. Today, the Families and Work Institute (FWI) and the Society … Continue reading →

Posted in Careers, Culture, Featured, Firm News | Tagged Culture, effective workplace, flexible workplace, Sloan award, top workplace, when work works | Leave a comment

Kentucky Small Business Tax Credit Available

Posted on August 12 2014 by DMLO CPAs

Kentucky Small Business Tax Credit available for creating and filling a new employment position and investing $5,000 in qualifying equipment or technology The Kentucky Small Business Tax Credit (KSBTC) program allows eligible small businesses paying taxes imposed by KRS 141.020 … Continue reading →

Posted in DMLO Report, Featured, Tax Bites | Tagged small business, tax credit, tax tips | Leave a comment

Ben Benedict Earns New CompTIA Credential

Posted on May 15 2014 by DMLO CPAs

We are pleased to announce that Software Specialist Ben Benedict has recently added another certification to his list of technical achievements. The CompTIA Security+ certification demonstrates knowledge and competency in network security, compliance and operational security, as well as the … Continue reading →

Posted in Firm News | Tagged Ben Benedict, certification, CompTIA, network security | Leave a comment

Chris Ward Earns Certified Valuation Analyst Credential

Posted on March 10 2014 by Chris Ward

DMLO Director Chris Ward earns Certified Valuation Analyst (CVA) credential, granted only to those with considerable professional experience with business valuations, by The National Association of Certified Valuation Analysts (NACVA), a global professional association that supports the business valuation, litigation support and fraud deterrence consulting disciplines within the CPA and professional communities.

The skills of a Certified Valuation Analyst are most often required in conjunction with the purchase or sale of a business, succession planning, buy-sell agreements, charitable contributions, estate and gift taxes, etc. In the litigation support arena, valuations are often needed in situations of business disruption, dissenting shareholder actions, divorce, and partner or shareholder disputes. Continue reading →

Posted in Featured, Firm News | Tagged business valuation, buy-sell, Certified Valuation Analyst, Chris Ward, CVA, divorce, litigation support, NACVA, shareholder dispute, succession planning | Leave a comment

Does our employee benefit plan require an audit?

Posted on February 24 2014 by Mike Cook

This is a question we commonly get from clients who offer an employee benefit plan to employees. The answer, with a few exceptions, is: when the plan has 100 eligible participants. If your employee benefit plan does require an audit, … Continue reading →

Posted in Employee Benefits | Tagged audit, DOL, EBP audit, employee benefit plan, plan administrator | Leave a comment

Sarah Antle earns Certified Fraud Examiner Credential

Posted on January 30 2014 by Sarah Antle

The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, recently awarded Sarah Antle the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Sarah passed … Continue reading →

Posted in Featured, Firm News | Tagged ACFE, certified fraud examiner, CFE, forensic accounting, fraud, Sarah Antle | Leave a comment