Category Archives: Tax Alerts

Time Running Out On 15% Kentucky Opportunity Zone Tax Exclusion

The clock is ticking on an important benefit available through the Kentucky Opportunity Zone investment program. Investing in a Qualified Opportunity Fund (QOF) before December 31, 2019 will allow you to take advantage of a 15% permanently excluded taxable gain … Continue reading

Posted in Featured, Tax Alerts | Tagged , , | Leave a comment

Update on Treatment of Qualified Transportation Fringe Benefit Expenses

The Internal Revenue Service recently issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in determining the amount of parking expenses that are no longer tax deductible. … Continue reading

Posted in Tax Alerts | Tagged , | Leave a comment

Consider Prepaying College Athletic Ticket Donations Now For Tax Benefit

Friday evening the House and Senate Conference Committee agreed to the Tax Cuts and Jobs Act. Barring a delay, it is anticipated to pass both chambers tomorrow and be signed into law before December 25th. Click here to view Policy … Continue reading

Posted in Tax Alerts | Tagged , , , | 1 Comment

Ky Small Business Tax Credit Deadline Approaching

The Ky Small Business Tax Credit (KSBTC) program allows eligible small businesses to apply for a non-refundable Kentucky state income tax credit ranging from $3,500 to $25,000. Eligible small businesses include for-profit entities that have 50 or fewer full-time employees, and have created and sustained (for 12 months) at least one new full-time job (at $10.88/hr or more), and purchased at least $5,000 of qualifying equipment or technology.

If you apply by November 20, 2015, you can be approved in time to claim the credit on your 2015 taxes. Before applying, you should review the KSBTC Guidelines to confirm eligibility. Continue reading

Posted in Tax Alerts | Tagged , , , | Leave a comment

ACA Information Reporting Deadlines: Are You Ready?

In March 2014, the IRS released final regulations implementing the Affordable Care Act’s (ACA’s) information reporting provision for large employers. The new rules were optional for the 2014 calendar year but will be mandatory for the 2015 calendar year for … Continue reading

Posted in Tax Alerts | Tagged , , , , , | Leave a comment

Highway Funding Law Brings Important Tax Law Changes

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 was signed into law on July 31. This three-month extension of the Highway Trust Fund was the 34th stopgap extension of transportation programs since 2009. In addition to … Continue reading

Posted in DMLO Report, Tax Alerts | Tagged , , , , | Leave a comment

Copyright © DMLO. All Rights Reserved. | 9300 Shelbyville Road, Suite 1100, Louisville, KY 40222