Dalby, Wendland & Co. News

Taxing Social Security Benefits

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The taxation of Social Security benefits depends on your

2022-07-12T09:49:24-06:00July 12th, 2022|

Tax Issues When Getting a Divorce

Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are five issues to consider if

2022-07-05T09:41:38-06:00July 5th, 2022|

LIFO Method Warning to Retailers and Businesses

Recent supply shortages may cause unexpected problems for some businesses that use the last-in, first-out (LIFO) method for their inventory. Here’s an overview of what’s happening so you won’t be blindsided by the effects of so-called “LIFO liquidation.” Inventory Reporting Methods Retailers generally record inventory when it’s received and title

2022-06-28T09:09:14-06:00June 28th, 2022|

Partnership Tax Rules

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. Why does this happen? It’s due to the way

2022-06-14T08:57:03-06:00June 14th, 2022|
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