COVID-19
Research Credit Refund Claims Guidance From The IRS
The IRS has released two pieces of interim guidance on its revised administrative policy regarding valid research credit refund claims.
DMLO CPAs
January 14, 2022
Tax
COVID-19
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.
DMLO CPAs
January 12, 2022
COVID-19
IRS Letters re: Advanced Child Tax Credit and Economic Impact Payments
If you benefited from advance Child Tax Credit payments or the third round of Economic Impact Payments, watch your mail for a letter from the IRS.
DMLO CPAs
January 5, 2022
Employee Benefits
Deadlines and Important Dates for Plan Sponsors
Sponsors of defined benefit and defined contribution plans: keep these deadlines and important dates in mind for your plans in 2022.
DMLO CPAs
January 3, 2022
Tax
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.
DMLO CPAs
December 20, 2021
Tax
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.
DMLO CPAs
December 14, 2021
Advisory
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.
DMLO CPAs
December 11, 2021
COVID-19
Hardship Distribution Amendment Deadline Approaching
With the Dec. 31 hardship distribution amendment deadline approaching, plan sponsors should act quickly to review plan operations and amend plan documents as needed.
DMLO CPAs
December 6, 2021
COVID-19
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.
DMLO CPAs
December 1, 2021
Advisory
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.
DMLO CPAs
November 30, 2021
Advisory
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.
DMLO CPAs
November 29, 2021
COVID-19
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.
DMLO CPAs
November 23, 2021
COVID-19
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.
DMLO CPAs
November 22, 2021
COVID-19
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.
DMLO CPAs
November 15, 2021
Tax
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.
DMLO CPAs
November 8, 2021
COVID-19
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.
DMLO CPAs
November 4, 2021
COVID-19
White House Releases Framework for Build Back Better Act
After months of negotiations, the White House has released a framework for the Build Back Better Act, a $1.75 trillion package of social infrastructure measures paid for by tax increases.
DMLO CPAs
November 2, 2021
Careers
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!
DMLO CPAs
October 31, 2021
Advisory
DMLO Welcomes Director Quinn Hart to Corydon, Indiana Office
DMLO is excited to announce that CPA Quinn Hart has joined the Corydon, Indiana office as a Director.
DMLO CPAs
October 18, 2021
Advisory
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.
DMLO CPAs
October 12, 2021
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