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TCJA Enhances Bonus Depreciation

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically, taking this break is beneficial. But in certain situations, your business might save more tax long-term by […]

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Congratulations to Our Newest CPAs!

Dalby Wendland Accountants Awarded CPA Designations

Dalby, Wendland & Co., P.C., is pleased to announce Glenwood Springs accountants Justine F. Arnold, Katie J. Thompson, and Dillon D. Washburn recently attained the Certified Public Accountant (CPA) designation after passing the Unified Certified Public Accountant Examination, which is set by the American Institute of Certified Public Accountants. The Uniform CPA Examination protects the […]

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2 Small Business Tax Credits to Take Advantage Of

Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or eliminated some tax breaks for businesses. Two still-available tax credits are especially for small businesses […]

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Financial Statements Help Value Businesses

Owners of private businesses often wonder: How much is my business interest worth? Financial statements are a logical starting point for answering this question. Here’s an overview of how financial statements can serve as the basis for business valuation under the cost, income and market approaches. Cost approach Because the balance sheet identifies a company’s […]

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Conflict-of-Interest Policy Checklist for Nonprofits

Not-for-profit board officers, directors, trustees and key employees must avoid conflicts of interest because it’s their duty to do so. Any direct or indirect financial interest in a transaction or arrangement that might benefit one of these individuals personally could result in the loss of your organization’s tax-exempt status — and its reputation. The IRS […]

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Can You Deduct Home Office Expenses?

Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers will be eligible for a home office deduction. Changes under the TCJA For employees, home office expenses are a miscellaneous itemized deduction. For 2017, this […]

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