TCJA Impact Update: Is It Time For A Chart of Accounts Adjustment?

How to account for the changes to meals and entertainment expenses brought about by the Tax Cuts and Jobs Act

Business Owners, Individuals, Tax ReformThe Doty GroupJanuary 20, 2020Tax Cuts and Jobs Act, Chart of Accounts, Business Expenses, Meals and Entertainment Expense, Entertainment Expenses, Meals Expenses, Tax ReformComment

IRS Willing To Consider Requests For Relief From Double Taxation Related To Repatriation

The IRS has determined that in unique circumstances it may be appropriate to provide relief from double taxation.

Business Owners, Individuals, Tax ReformThe Doty GroupJanuary 17, 2020International Tax, Repatriation, Double Taxation, Tax Cuts and Jobs ActComment

How Can Auditors Maintain Independence When Advising Clients on New Standards?

To what extent can auditors provide advice to clients who may be panicking or having a difficult time understanding intimidating new FASB standards?

Business Owners, From The Doty Group, ServicesSarah GrayJanuary 6, 2020AICPA, Attestation, Audit, FASB, GAAP, Private CompaniesComment

WA Sales and Use Tax: New Annual Filing Date Takes Effect

The due date for Washington excise taxes for small businesses filing annually is now April 15.

Business OwnersThe Doty GroupJanuary 2, 2020State and Local Tax, Washington STate, DeadlinesComment

IRS and Treasury finalize Opportunity Zone guidance

The Internal Revenue Service has issued final regulations providing details about investment in qualified opportunity zones (QOZ).

Business Owners, IRS News, Treasury, Tax ReformThe Doty GroupDecember 24, 2019Qualified Opportunity Zones, Qualified Opportunity Fund, QOF, QOZ, QOZ BusinessComment

A Brief Financial Planning Guide for People with Disabilities

How people with disabilities can plan financially to ensure they’re able to afford sufficient, safe care later in life

The Doty GroupDecember 16, 2019Financial Planning, National Disability Institute, Social Security Disability, Medicare, ABLE Savings Account, Budget, Final Expense InsuranceComment

What AirBnB Hosts Should Know About Taxes

If you are among this emerging group of small business owners taking part in the multimillion-dollar industry in Western Washington, we have some tips for you to consider when planning for tax time.

Catalin Clarke, CPADecember 13, 2019AirBnb, Short Term Rentals, Deductions, Ordinary and Necessary, Washington STate, B&O, Hotel Activities, Hospitality, Form 1099, 1099K, Partnerships, LLCComment

Business Executives Regain Some Optimism on U.S. Economy but Trim Profit Outlook, AICPA Survey Finds

The index component for optimism about the U.S. Economy gained 4 points to 64 but remains down 7 points from fourth quarter 2018.

Business OwnersThe Doty GroupDecember 9, 2019AICPA, Economic OutlookComment

National Tax Security Awareness Week, Day 5: Tax professionals need data protection plans; must guard against identity theft

Tax Security Awareness Week wraps up with some final thoughts on expectations for tax professionals when it comes to protecting client data.

IRS News, Tax ReformThe Doty GroupDecember 6, 2019National Tax Security Awareness Week, Data Protection, Security Summit, Tax, Tax Security, Safeguarding Taxpayer DataComment