Dalby, Wendland & Co. News

Estate Planning for Your Pets

An unexpected outcome of the recent death of designer Karl Lagerfeld is that the topic of estate planning for pets has been highlighted. Lagerfeld’s beloved cat, Choupette, played a major role in his brand. The feline was the subject of a coffee table book and has a large Instagram following.

2021-04-12T14:55:29-06:00March 19th, 2019|

Auditing Cashless Transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments. And you may be wondering: How does the acceptance of these types of transactions affect the auditing of your financial statements? Cashless transactions require the exchange of digital information to

2021-04-12T14:55:29-06:00March 12th, 2019|

The Home Office Deduction

If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return. Thanks to a tax law change back in 2013, there

2021-04-12T14:55:29-06:00March 12th, 2019|

Capital Gains, Losses, and Sale of Home

Capital Gains, Losses, and Sale of Home Are you trying to get your brain around how to figure out basis of property that you receive as a gift? Here's what you have to consider:      The adjusted cost basis to the donor just before he or she made the gift

2021-04-12T14:55:30-06:00March 12th, 2019|

Vehicle Expense Deduction for Individuals

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return. For 2017, miles driven for business, moving, medical and charitable purposes were

2021-04-12T14:55:30-06:00March 5th, 2019|

2018 Individual Tax Deductions

While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five 2018 tax deductions you may see shrink or disappear when you file your 2018

2021-04-12T14:55:30-06:00February 26th, 2019|

ESOP Can Benefit Business Owners

Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity with employees. But did you know that an ESOP can be a powerful estate planning tool? It can help you address several planning challenges, including lack of liquidity and the

2021-04-12T14:55:30-06:00February 26th, 2019|
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