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.
CPA Firm DMJPS PLLC Raises $12,825 for Special Olympics North Carolina
One of the region’s most unique fundraising events took place on Saturday, February 24 in Greensboro at Wet n’ Wild Emerald Point. The Triad Chill Polar Plunge for Special Olympics was held on a frigid afternoon with hundreds of community supporters in attendance....
DMJPS PLLC Wins ClearlyRated’s 2024 Best of Accounting Award for Service Excellence
DMJPS, a U.S. Top 200 CPA and business advisory firm, announced today that they have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated's Best of Accounting® Award winners have proven to be industry leaders in service...
Revisions to the Form 5500 and New Provisions from Secure 2.0
There are new law changes by the United States Department of Labor (DOL), IRS, Pension Benefit Guaranty Corporation(PBGC) and Secure Act 2.0 as regards to employee benefit plans. Employee benefit plans generally are required to file annual returns/reports about, among...
Tax Reporting: 1099 Forms and Their Significance in Recording Financial Transactions
There are several types of 1099 forms, such as 1099-NEC (Nonemployee Compensation payments to independent contractors) and 1099-Misc (Miscellaneous Income payments), used for reporting transactions that occurred during the previous tax year. These informational...
North Carolina Economic Report – 2023 Third Quarter
Highlights: DMJPS is pleased to provide a statewide quarterly economic report with highlights of North Carolina’s fifteen metros for the 3rd quarter of 2023. Indicators suggest the state has maintained its standing and experienced overall steady growth compared to a...
IRS Issues Penalty Relief
As part of our commitment to keeping you informed, we're providing a few vital updates from the IRS that may positively impact your tax situation. Update: IRS Announces New Penalty Relief Program In response to the challenges of the COVID-19 pandemic, the IRS has...
What Plan Sponsors Need to Know to Prepare for the SECURE 2.0 Act
Congress passed the SECURE 2.0 Act as part of the Consolidated Appropriations Act (CAA) of 2023. It gets its name from the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which made numerous changes to IRAs, 401(k)s and other popular...
Are You Ready for the Corporate Transparency Act?
Executive Summary A new federal law will require small business entities to submit their beneficial owners’ identification documents to a federal database in 2024. Aimed at combatting global financial crime, the Corporate Transparency Act (CTA) will affect an...
10 Essential Steps to Protect Your Nonprofit Organization from Fraud
Fraud can have troublesome effects on not-for-profit organizations (NFPs). For-profit businesses, generally speaking, exist for the primary purpose of making money. They may rely on the quality of their goods or services to protect their operations, even if they have...
North Carolina Economic Report – 2023 Second Quarter
Highlights: DMJPS is pleased to provide a statewide quarterly economic report with highlights of North Carolina’s fifteen metros for the 2nd Quarter of 2023. These state indicators show sustained and positive growth amidst a continued low unemployment rate. • In the...
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 to Choose Between Standard Mileage and Actual Expenses for Tax Deduction Purposes
As a small business owner, handling your own business taxes probably isn't your favorite pastime. Still, when it comes time to prepare your tax return, you'll want to take advantage of every deduction and credit available to you to reduce your tax burden. If you're a...
Using a Business Valuation to Provide More Than Just A Value
More often than not, it is a specific event which triggers a company or an advisor to request a business valuation. This can be from a tax reporting event (estate reporting, gift tax reporting, charitable contribution), litigation or divorce, or desire to sell or...
The Latest Developments in Treasury Department Beneficial Ownership Information (BOI) Reporting
The Treasury Department's approach to Beneficial Ownership Information (BOI) has seen significant updates recently, including new guidance. Beneficial Ownership Information (BOI) refers to the details about the individuals who ultimately own or control an entity,...
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