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DWC CPAs and Advisors Named a Top 300 Public Accounting Firm
DWC CPAs and Advisors is pleased to announce we are again recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm in the nation. IPA ranks public accounting firms nationally by U.S. net revenues, and they are compiled by analyzing nearly 600 responses for IPA’s Survey and Analysis of
Q3 2023 Tax-Related Deadlines for Businesses and Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. 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
Take Care to Address Your Family Vacation Home in Your Estate Plan
For many people, the disposition of a family home is an emotionally charged estate planning issue. And emotions may run even higher with vacation homes, which often evoke even fonder memories. So, it’s important to address your vacation home carefully in your estate plan. Keeping the Peace Before you do
The Importance of Buy-Sell Agreements
Recently, the critically acclaimed television show “Succession” aired its final episode. If the series accomplished anything, it was depicting the chaos and uncertainty that can take place if a long-time business owner fails to establish a clearly written and communicated succession plan. While there are many aspects to succession planning, one
Ensuring “Reasonable” Compensation for Corporate Business Owners
If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments. Therefore, if funds are
Clarifying What Counts as Qualified Medical Expenses
If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic Rules and IRS Clarifications You can claim an itemized deduction for
5 Important Terms Used in Business Valuations
As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business sale, merger or acquisition. It’s also important when creating or updating a buy-sell agreement or doing estate planning. You can even use a business valuation
Taxes and Cryptocurrency Users and Investors
If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the Box Beginning with tax year 2022, taxpayers must check a box on their tax returns indicating
Receiving a Sizable Inheritance
If you’ve received, or will soon receive, a significant inheritance, it may be tempting to view it as “found money” that can be spent freely. But unless your current financial plan ensures that you’ll comfortably reach all your goals, it’s a good idea to have a plan of action for
Spring Clean Your QuickBooks
Have your company’s accounting records become cluttered with duplicate items and unused accounts? When you need to revise your QuickBooks® lists — such as the chart of accounts, customers and vendors — the software provides methods for deleting, inactivating and merging list entries. Here’s what you can do to help