Final Tip Regulations

DOL Final Tip Regulations

Final tip regulations limit the amount of time tipped employees can spend performing non-tip-producing work while still receiving cash wages as low as $2.13 per hour.

2022 Standard Mileage Rates

2022 Standard Mileage Rates Released

The IRS has released the 2022 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Tax Filing Deadline for Kentucky Tornado Victims

IRS Extends Tax Filing Deadline For Kentucky Tornado Victims

The IRS has extended the tax filing deadline for Kentucky tornado victims and those affected by the natural disaster, who will now have until May 16, 2022 to file various individual and business tax returns and make tax payments.

Selling Your Business

Guide To Selling Your Business

Whether you have been thinking about selling your business only recently, or that was your goal all along, it’s never too early to prepare for a sale.

Nonprofit Benchmarking Survey 2021

2021 Nonprofit Benchmarking Survey

The annual BDO nonprofit benchmarking survey takes a deep dive into how organizations are emerging from a tumultuous year and includes snapshot reports specific to revenue earnings, health and human services organizations, education organizations, grantmakers and public charities.

Year-End Tax Planning Businesses

Year-End Tax Planning: Businesses

Despite the delays and uncertainty around exactly what tax changes final legislation will contain, there are actions that businesses can consider taking to minimize their tax liabilities, which are highlighted in this guide.

Year-End Tax Planning Individuals

Year-End Tax Planning: Individuals

It’s time for year-end tax planning – individuals should review 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations.

House Passes Build Back Better

House Passes Build Back Better Act

The House passes Build Back Better Act – a $1.9 trillion bill to address Biden’s human infrastructure priorities.

Infrastructure Investment and Jobs Act

Biden Signs Infrastructure Investment and Jobs Act

The Infrastructure Investment and Jobs Act, which will fund investment in improvements to the country’s roads, bridges, highways and Internet connections, was signed into law by President Biden last week. It includes several tax-related provisions.

Personal Use of Company Vehicle

Personal Use of Company Vehicle Rules Simplified

Personal use of a company vehicle generally results in taxable wages for employees. In January 2021, the IRS announced special COVID-19 relief retroactive for 2020, which is also available in 2021.

Taxable Fringe Benefits

Year-End Reminders: Fringe Benefits & Special Rules for 2% S Corp Shareholders

As 2021 draws to a close, employers should review whether they have properly included the value of common fringe benefits in their employees’ and (if applicable) 2% S corporation shareholders’ taxable wages. This is especially true for 2021, since COVID relief brought about a number of changes to the rules relating to traditional fringe benefits.

Build Back Better Act 3

Build Back Better Act: Third Time’s the Charm?

A third version of the Build Back Better Act was released last week, which increases the state and local tax deduction, brings back many of the retirement proposals from the original 9/13 draft of the Act, and retains the surcharge on high-income individuals, estates and trusts from the 10/28 version.

Halloween Contest Fun DMLO

CPAs Getting Creative: Halloween Fun at DMLO

At DMLO, we don’t mess around when it comes to Halloween contest fun. There are some seriously creative people and amazing cooks and bakers on our team! 

Business Document Checklist

Business Document Checklist

We’ve put together a business document checklist of records to compile that you can access easily in the event you undergo an IRS audit. It is also a handy resource to have when meeting with advisors.

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