News and Alerts

//News and Alerts

Stay up to date with latest accounting, tax, and consulting news! Dean Dorton's experts let you know the latest industry and emerging accounting and tax information and most importantly how it will affect you and your business.

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Can You Pay Bonuses in 2017 but Deduct Them This Year?

December 15th, 2016|

You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by [...]

Key Tax Filing Deadlines Changed

December 15th, 2016|

Due dates for certain tax returns for the 2017 tax filing season (returns for 2016) and beyond have been changed. The changes, based on the tax year being the calendar year, are highlighted in [...]

An Important but Often Overlooked Follow-Up After a Death or Divorce

December 15th, 2016|

Most assets of which we are the sole owner pass at death according to the terms of our will and beneficiary designations of retirement plans and life insurance. In a real example from a dispute [...]

Jen Shah Elected to Thoroughbred Aftercare Alliance Board

December 15th, 2016|

Jen Shah, Dean Dorton's equine industry team leader, was recently elected to the Thoroughbred Aftercare Alliance (TAA) board of directors. Eight new members were elected, including a new board president. The new board members include [...]

Municipal Market Potentially at Risk with Trump Infrastructure Plan

December 15th, 2016|

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 [...]

Some Tax Rates and Amounts for 2017

December 15th, 2016|

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 [...]

You May Need to Renew Your ITIN

December 15th, 2016|

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 [...]

Team Member Spotlight: Elizabeth Woodward

December 13th, 2016|

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 [...]

Private Business Use

December 12th, 2016|

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 [...]

IRS Penalties for Information Returns

December 6th, 2016|

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 [...]

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

December 6th, 2016|

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 [...]

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

December 5th, 2016|

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 [...]

Year End Tax Planning Tips 2016

November 30th, 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 [...]

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

November 30th, 2016|

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 [...]

Manufacturers are Counting Their Tax Blessings this Holiday Season

November 29th, 2016|

Manufacturers waited years for legislation which would allow us to know the tax impact of our capitalization plans before the equipment was purchased and placed in service rather than after the fact. Our wait ended [...]