Tax Planning Articles
Our tax planning articles give you the actionable information you need to be prepared for your financial future.
Tax Watch
With the help of a DMJPS tax planning CPA, you can better understand tax code changes, new legislation, analysis, and some of the biggest issues facing businesses and individuals. They are a resource for professionals who want to position their business for tax time and provide a baseline of information that will help you better understand and engage with your own tax planning accountant.
The Tax Information You Need
Our tax planning articles offer insight into some of the biggest concerns facing your business’s financial planning. Up-to-date resources are structured to provide the information you need. When you follow up with your tax planning CPA, they’ll address your specific challenges unique to you or your situation.
What Is in the Consolidated Appropriations Act of 2023?
On December 29, 2022, President Biden signed the Consolidated Appropriations Act (CAA) of 2023 into law. The bill appropriates approximately $1.7 trillion for fiscal year 2023 and makes several significant changes to the Internal Revenue Code (IRC). The new tax laws...
New Tax Law Requires Research & Experimental Costs to be Capitalized and Amortized
Effective for tax years beginning after 2021, all research and experimental (R&E) expenditures paid or incurred in connection with a trade or business are required to be capitalized and amortized for tax purposes. This was a revenue raising item in the Tax Cuts...
North Carolina Withholding from Nonresident Contractors and ITIN Holder
As a new year begins, we want to remind those doing business in North Carolina of a commonly overlooked withholding requirement. General Requirements: Businesses are required to withhold North Carolina state income tax at a rate of 4% on payments to any of the...
Single Audit Requirements for Nonprofit Organizations that Receive Federal Funds
Government funding brings some rather complicated reporting and auditing requirements. This can apply to both for-profit businesses and not-for-profit organizations (NFPs) that receive federal funding. NFPs should be aware of their auditing obligations under...
PRF and ARP Reporting Changes: Preparing for 2023
Provider Relief Funds (PRF) were provided to healthcare providers to address issues with lost revenues and increased expenses related to the COVID-19 pandemic. By providing these funds, the government attempted to foster and maintain the national health system so that...
Strategies That Work
Every business and individual is different, but our tax planning articles are meant to get you up-to-speed fast. Contact a tax planning accountant at DMJPS to review how the tax changes may affect you, and what can be done to minimize the impact. For over 70 years, clients have trusted DMJPS PLLC, to help chart the right financial course. Contact us today to find out how an experienced tax planning specialist can help you or your business.
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