Dalby, Wendland & Co., P.C., is honored to be recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm. IPA 300 firms are ranked by U.S. net revenues and are compiled by analyzing more than 540 responses to IPA’s Survey and Analysis of Firms. Firm President Greg Keller said,
Health Savings Accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small to midsize businesses and the self-employed. So, assuming your company falls into one of these categories, have you considered the strategy of using these accounts with a high-deductible health plan (HDHP)? Tax
Business owners may be able to see substantial tax savings faster by conducting cost segregation studies. These studies identify property components and their costs, allowing you to maximize current depreciation deductions by using shorter lives and speeding up depreciation rates available for the qualifying parts of the property. Depreciation rules
Crowdfunding can be an effective method to raise money for business or personal ventures, projects, or other needs such as fundraising and charitable causes. The premise of crowdfunding is to raise cash from a large number of people (friends, family, coworkers, or other investors/backers), allowing more flexibility of contributors, greater
The simplest way to provide financial assistance to a child or other family member is to get out your checkbook and make a gift. But if you’re concerned about gift taxes, a loan may be preferable. Intrafamily loans must be structured and managed carefully to ensure that the IRS will
Once acquired, a not-for-profit’s tax-exempt status isn’t permanent. Your organization’s activities, the ways it generates revenue and how it uses that revenue can lead to the IRS reviewing and even revoking your status. Rules vary Most charities are classified as Section 501(c)(3) organizations. These groups: • Are organized and operated
With health care costs continuing to climb, tax-friendly ways to pay for these expenses are more attractive than ever. Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and Health Reimbursement Accounts (HRAs) all provide opportunities for tax-advantaged funding of health care expenses. But what’s the difference between these three accounts?
A principal consideration for any new or existing business is choosing an appropriate legal entity. Available options in most states include C corporations, S corporations, general and limited partnerships, limited liability companies (LLCs), limited liability partnerships (LLPs) and sole proprietorships. Tax implications Each entity type has advantages and disadvantages. It’s
With the gift and estate tax exemption at $5.45 million in 2016, you may be less concerned about these taxes. But if you don’t take advantage of making tax-free direct payments of tuition and medical expenses, you’re missing a valuable opportunity to reduce your potential gift and estate tax exposure
Dalby, Wendland & Co., P.C. is pleased to announce the following staff promotions: Nathan A. Fyock, CPA, to Associate Principal Nathan “Nate” Fyock is a certified public accountant (CPA) with Dalby, Wendland & Co., P.C.’s, audit office in Grand Junction. Originally from Center, a town located in the San Luis
