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.
The New Credit Loss Model’s Effect on Small Business and Nonprofit Organizations
There is a new accounting standard effective during 2023 which will change how companies account for future losses on financial instruments. If this sounds abstract, then you are not alone. The standard was initially developed to change the way that banks account for...
Changes in the Tax Laws: What to Know Before Filing Your 2024 Return
The IRS officially began accepting returns for the 2023 tax year at the end of January 2024. This gives taxpayers several months to complete their returns or submit an extension request. Every year, the IRS makes changes to various aspects of the tax filing process,...
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...
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...
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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