About deandorton

Dean Dorton is a leading Kentucky-based regional accounting firm with a storied history of serving the needs of the surrounding community. We blend innovative business thinking, attentive personal service and an unyielding commitment to accuracy, quality and timeliness providing world-class expertise to our clients.

Municipal Market Potentially at Risk with Trump Infrastructure Plan

With the upcoming changes in the political arena, interest on municipal bonds is at risk of becoming subject to federal income taxation. Under the current U.S. tax code, when investors lend money to local [...]

By | December 15th, 2016|Tax, Uncategorized|

Some Tax Rates and Amounts for 2017

FICA base — Annual compensation to which Social Security tax applies is $127,200 for 2017 (up from $118,500 for 2016). Social Security benefits — Individuals who are drawing Social Security benefits prior to attaining [...]

By | December 15th, 2016|Tax, Uncategorized|

You May Need to Renew Your ITIN

An ITIN — Individual Taxpayer Identification Number — is used by non-residents of the U.S. who are not entitled to work in the U.S. (and therefore cannot obtain a social security number) to satisfy their [...]

By | December 15th, 2016|Tax|

Team Member Spotlight: Elizabeth Woodward

Industry Team: Litigation Support Years with Dean Dorton: 17 Years in the Higher Education Industry: 23 Favorite thing about Dean Dorton: I love our firm’s commitment to excellence. It is rewarding to work at a firm where [...]

By | December 13th, 2016|Forensic Accounting|

Private Business Use

The IRS is placing increased scrutiny on the use of tax exempt bonds by 501(c)(3) organizations. Since interest earned on the revenue bonds issued by state and local governmental organizations is exempt from federal income [...]

By | December 12th, 2016|Higher Education|

IRS Penalties for Information Returns

Penalties for failure to file correct information returns (e.g. W-2s, 1099s, 1098s, 1042s) are subject to annual inflationary increases per Section 208 of Public Law 113-295. These penalties are based on the period of [...]

By | December 6th, 2016|Uncategorized|

Ensure Your Year-End Donations Will Be Deductible on Your 2016 Return

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. To [...]

By | December 6th, 2016|Tax, Uncategorized|

There’s Still Time to Benefit on Your 2016 Tax Bill by Buying Business Assets

In order to take advantage of two important depreciation tax breaks for business assets, you must place the assets in service by the end of the tax year. So you still have time to act [...]

By | December 5th, 2016|Tax|

Year End Tax Planning Tips 2016

With most of 2016 behind us, you may want to consider some year-end tax-saving ideas. Before acting on these, note the following: Most strategies do not apply universally, but only in specific circumstances. Many strategies [...]

By | November 30th, 2016|Tax|

2017 OIG Work Plan: Bulls Eye on Skilled Nursing and Hospice

The 2017 OIG Work Plan was issued by the Office of Inspector General on November 15, 2016. Historically, we have seen the Medicare Part A & B Work Plan focus primarily on hospitals with [...]

By | November 30th, 2016|Healthcare|