Blog
Some Common COVID-19 Tax Q&A’s for Individuals
The coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now. My employer closed the office and I’m working from home. Can I deduct any of the related expenses? Unfortunately, no. If you’re an employee who telecommutes, there are strict rules
DWC Accountant Megan Loberg Attains CPA Designation
Dalby, Wendland & Co., P.C., is pleased to announce Megan S. Loberg recently attained the Certified Public Accountant (CPA) designation after passing the Uniform Certified Public Accountant Examination, which is set by the American Institute of Certified Public Accountants. The Uniform CPA Examination protects the public interest by helping to
Be Careful of Online Tools for Wills
The novel coronavirus (COVID-19) pandemic has refocused people’s thoughts on the health and safety of their families. In addition to taking the necessary steps today to protect your loved ones, it’s equally important to consider their financial security in the future. If you don’t have a will, drafting one should
CARES Act & Business Charitable Contribution Rule Changes
As many humanitarian nonprofits see increased need in services provided during the COVID-19 pandemic, many businesses are helping out and donating to charity. To help incentivize charitable giving, the CARES Act relaxed some of the rules governing charitable deductions. Here are two changes that affect businesses: 1. The limit on
Small Business Reorganization Act – Subchapter V
Many small businesses continue to struggle in the wake of the COVID-19 pandemic. Some have already closed their doors and are liquidating assets. Others, however, may have a relatively less onerous option: bankruptcy. Although bankruptcy obviously isn’t an optimal outcome for any small company, there may be a positive aspect:
DWC Continues Colorado Safer at Home Through June 1st
Dear Clients, We continue to monitor COVID-19 issues and as more businesses reopen and people head back to work, DWC will maintain a more conservative approach for the safety of our employees, families, clients, and community. Therefore, our physical offices will remain closed to visitors and we continue to discourage
Happy Graduation to the Class of 2020!
COVID-19 disrupted the many traditions high school and college seniors typically get to participate in. We understand these are life-long memories with friends and family that cannot be replaced. DWC wishes to celebrate all 2020 graduates and give a special shout-out to these graduating seniors and family members of our
Safe Harbor Guidance for Necessity of PPP Loan Request
Borrowers who receive a PPP loan must certify in good faith that current economic uncertainty makes the loan request necessary to support ongoing operations of the applicant. However, borrowers and others expressed concern as to what measures define “necessity” and what documentation is required to prove it. On May 13th,
Rule Changes Regarding Your IRAs, RMDs, and Estate Plan
Many people’s estates typically include IRAs. Be aware that two major laws passed into law recently, the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, have had a direct effect on IRAs. In a nutshell, the CARES Act waives
CARES Act NOL Deduction Changes
The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous tax law. Here’s a look at how the rules for claiming certain tax losses have been modified to provide businesses with relief from the novel coronavirus (COVID-19) crisis. NOL Deductions Basically,