If your company comes up over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward. As part of this effort, you’ll answer questions
If you’re adopting a child, or you adopted one this year, there may be significant tax benefits available to offset the expenses. For 2019, adoptive parents may be able to claim a nonrefundable credit against their federal tax for up to $14,080 of “qualified adoption expenses” for each adopted child.
If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes. The maximum age for making
Dalby, Wendland & Co., P.C., is pleased to announce local CPAs Brian J. Hollingsworth and Kelsa D. Tinsley have attained certifications in Employee Benefit Plans Audit (EBP) from the Association of International Certified Professional Accountants. Brian obtained the Intermediate Employee Benefit Plans Audit Certificate and Kelsa obtained the Advanced Employee
Dalby, Wendland & Co., P.C., is pleased to announce the promotion of Seth Knighton to Senior Tax Accountant in Grand Junction. Seth is a Colorado Native from Fort Collins. He attended Colorado Mesa University for cross country and track and graduated in 2017 cum laude with a bachelor’s of science
The concept of “matching” is one of the basic principles of accrual-basis accounting. It requires companies to match expenses (efforts) with revenues (accomplishments) whenever it’s reasonable or practical to do so. This concept applies when companies make advance payments for expenses that will benefit more than one accounting period. Here
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more
The IRS announced the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5
The IRS has issued final regulations that should provide comfort to taxpayers interested in making large gifts under the current gift and estate tax regime. The final regs generally adopt, with some revisions, proposed regs that the IRS released in November 2018. Providing clarification The Tax Cuts and Jobs Act
