Blog
Estate Planning for the Young and Affluent Can be Tricky
Events of the last decade have taught us that tax law is anything but certain. So how can young, affluent people plan their estates when the tax landscape may look dramatically different 20, 30 or 40 years from now — or even a few months from now? The answer is
DWC Professional Attains CAAS Certification
Dalby, Wendland & Co., P.C., (DWC) is pleased to announce Client Accounting Services’ Specialist Denise Distel was recently awarded the Client Accounting Advisory Services (CAAS) Certificate from the American Institute of CPAs. CAAS certification verifies competency in best practices for delivering outsourced back-office accounting and virtual CFO and controller services
IRS to Send Economic Impact Payment and Advance Child Tax Credit Letters
If you received Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments in 2021, expect to hear from the IRS in January. Letters will be mailed, listing the total EIPs or CTC payments you received. Keep the letters with your tax records and provide to your accountant for
DWC Makes Top 200 Private Colorado Companies List
Dalby, Wendland & Co., P.C. (DWC) was recently named a Top 200 Private Company in Colorado by ColoradoBiz. DWC is one of only ten businesses listed from western Colorado. DWC has served clients for over 73 years and is the seventh oldest business featured on the list. Companies must be
Cost Segregation Study Can Provide Accelerated Depreciation
If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. And under current law, the
New Digital Asset Reporting Requirements Imposed in Coming Years
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that will generally apply to digital asset transactions starting in 2023. Cryptocurrency exchanges will be required to perform intermediary Form 1099 reporting for cryptocurrency transactions. Existing Reporting Rules If
IRS Announces 2022 Retirement Plan Limits
The IRS recently announced 2022 cost-of-living adjustments to dollar limits and thresholds for qualified retirement plans. Here are some highlights: Elective Deferrals The annual limit on elective deferrals (employee contributions) will increase from $19,500 to $20,500 for 401(k), 403(b) and 457 plans, as well as for Salary Reduction Simplified Employee
Opportunities and challenges: Business Valuation in the age of COVID-19
Valuation and estate planning go hand in hand. After all, the tax implications of various estate planning strategies depend on the value of your assets at the time they’re transferred. The COVID-19 pandemic has had a significant impact on the value of many business interests and other assets, which may
Brush Up On Tax Rules for Business Holiday Gifts and Parties
With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic. It’s
Don’t Forget to Use Up Your Flexible Spending Account!
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021 nears, there are some rules and reminders to keep in mind. An Account for Health Expenses A pre-tax contribution of $2,750 to a health