The DMJPS Digest: A CPA Blog
Insights and musings from the desk of DMJPS professionals.
Financial Accounting Blogs for Businesses & Individuals
Are you perplexed by new tax laws and need advice on how to comply with the latest regulations? Do you want to improve your financial literacy so you can run a more efficient and profitable business? You’ve come to the right place. DMJPS PLLC’s accounting blog provides the latest insights and expert knowledge to help your business navigate a complex and ever-evolving industry.
DMJPS’ team of highly-experienced specialists provides expert advice and in-depth analysis of the latest news, trends, practices, and regulations to help you stay up-to-date on the most current developments. DMJPS’ accounting blog covers the most important financial reporting issues that affect many individuals, businesses, and organizations.
Educator Expense Deduction: Qualifications and Increases for 2022
With the summer ending and kids heading back to school, teachers are planning what they need to set up their classrooms effectively for their new groups of students. Teachers across the country often spend their hard-earned dollars to ensure that their classrooms have...
Nonprofit Cybersecurity: Why it Should be a Top Business Priority
With cyber attacks on the rise, even nonprofits can no longer ignore or poorly budget for this serious problem. Groups that may want to disrupt your mission or hold your data hostage may use malicious action to break into your system and use the data they obtain for...
DMJPS named one of 2022 Best Employers in North Carolina
DMJPS PLLC is pleased to announce it has been named one of 2022 Best Employers in North Carolina. Only 42 North Carolina businesses received this year’s recognition. Statewide, DMJPS is one of three accounting firms honored in 2022. In partnership with DataJoe, a...
IRS Notices for Deferred Social Security Tax Payments
When the Coronavirus Aid, Relief and Economic Security Act (CARES Act), was released, it provided taxpayers with the ability to defer an employer’s portion of Social Security taxes, as well as some self-employment taxes. For most employers, these taxes are reported on...
5 Key Business Issues Impacting the Restaurant Industry
If there's one thing that’s true about the restaurant industry, it’s that it can be very volatile at times. But the pandemic and many additional factors have created an even more extreme roller coaster of issues than usual. Shutdowns, restrictions, reopening and even...
IRS Releases “Dirty Dozen” Tax Scams for 2022
The IRS recently released its annual list of the “worst of the worst” tax scams currently affecting U.S. taxpayers, which it calls the “Dirty Dozen.” The agency monitors tax scams throughout the year. It notes that taxpayers may encounter the scams on the Dirty Dozen...
How to Account for Cryptocurrency
When considering how to account for cryptocurrency (crypto) on a company’s financial statements, the simplest conclusion might be to classify it as a cash equivalent. After all, it is “currency,” right? U.S. Generally Accepted Accounting Principles (GAAP) defines cash...
Patient Centered Outcomes Research Fee
WHAT IS IT? Under Obamacare (The Patient Protection and Affordable Care Act of 2010, or the “ACA”) a PCOR fee is applied to certain health plans. PCOR stands for “Patient Centered Outcomes Research.” A PCOR fee applies annually for 1/1/2013 through 12/31/2021. WHO HAS...
Restaurant Revitalization Fund
The American Rescue Plan Act of 2021, signed into law on March 11, 2021, by President Biden, is a $1.9 trillion economic stimulus package enacted to assist with the United States’ recovery from the COVID-19 pandemic. While this Act addressed many key elements,...
Coronavirus and Social Distancing Update
Coronavirus & DMJPS & Co., PLLC Resources As we work together in support of the practice of social distancing, these options are available to you: Email remains the most effective option for electronic communication. Electronic document sharing may be arranged...
Stay in the Know With DMJPS’ Business Accounting Articles
The world of finance and reporting often has many complex regulations that can frustrate even the best in the industry. DMJPS can simplify complicated issues to improve your understanding and help you make informed decisions. Our accounting blogs provide businesses and individuals with a wealth of guidance, insightful content, and actionable solutions to reduce impediments on your path to growth.
If you want to stay ahead of the latest developments and gain the most comprehensive insight into the world of accounting, invest your time in reading our CPA blog. DMJPS’ business accounting articles are written by our team of nationally-acclaimed specialists, offering educational resources, strategic advice, and practical solutions to help you fulfill your most pressing financial and tax obligations.
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Tax Watch
How Changes to Form 5500 Rules May Affect Audit Requirements
Employers that sponsor employee benefit plans (EBPs) must ensure that they comply with federal laws enforced by the IRS and the U.S. Department of Labor (DOL). The government uses Form 5500 to collect information about EBPs and monitor employers’ legal and regulatory...
Repeal of NC Privilege License Requirement for Many Occupations
Important Information for Professionals and Businesses: Effective July 1, 2024 the North Carolina Department of Revenue (NCDOR) has repealed the requirement for certain professions and businesses to obtain a yearly privilege license. N.C. Gen. Stat. § 105-41 is...
Preparing for Tax Changes in 2025
The Tax Cuts and Jobs Act (TCJA) of 2017 made sweeping changes to the Internal Revenue Code (IRC). It lowered tax rates for individuals, businesses and families. Some provisions of the statute are intended to discourage businesses from moving assets overseas. Many of...
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