Tax

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Estate Tax Portability Election: Simplified

Effective June 9, 2017, Revenue Procedure 2017-34 provides a simplified method whereby certain estates can obtain an extension of time to make an estate tax portability election. The simplified method is only available to estates [...]

By | July 26th, 2017|Tax, Wealth & Estate|

Team Member Spotlight: Leigh McKee

Service Areas: Wealth and Estate, International, Tax Exempts Years with Dean Dorton: 21 Years in Accounting Industry: 21 Favorite thing about Dean Dorton: In my interview with the firm 21 years ago, Richard Dorton asked me [...]

By | June 19th, 2017|Tax|

Trump’s Tax Reform Proposal

On Wednesday, April 26, the White House issued a single page of double-spaced bullet points outlining President Trump’s tax proposals. These proposals undoubtedly will be worked-over by Congress in coming weeks and months, so perhaps [...]

By | April 28th, 2017|Nonprofit & Government, Tax|

Dean Dorton Named 4th Best Place to Work in Kentucky

Last night, the annual Best Places to Work in Kentucky awards ceremony was held at the Lexington Convention Center, where the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource Management announced this [...]

Individual Tax Calendar: Key Deadlines for the Remainder of 2017

While April 15 (April 18 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that are important to be aware of. To help [...]

By | April 18th, 2017|Tax|

A Timely Postmark on Your Tax Return May Not Be Enough to Avoid Late-Filing Penalties

Because of a weekend and a Washington, D.C., holiday, the 2016 tax return filing deadline for individual taxpayers is Tuesday, April 18. The IRS considers a paper return that’s due April 18 to be timely [...]

By | April 12th, 2017|Tax|

Saving Tax With Home-Related Deductions and Exclusions

Currently, home ownership comes with many tax-saving opportunities. Consider both deductions and exclusions when you’re filing your 2016 return and tax planning for 2017: Property tax deduction. Property tax is generally fully deductible — unless [...]

By | April 12th, 2017|Tax|

2017 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply [...]

By | March 31st, 2017|Tax|

Who Can — and Who Should — Take the American Opportunity Credit?

If you have a child in college, you may be eligible to claim the American Opportunity credit on your 2016 income tax return. If, however, your income is too high, you won’t qualify for the [...]

By | March 22nd, 2017|Tax|

2016 IRA Contributions — It’s Not Too Late!

Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if [...]

By | March 15th, 2017|Tax|