Real Property Like-Kind Exchange Planning
Are you planning on selling business or investment real estate? You may be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through the “like-kind” exchange rules. READ MORE here.
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Family Leave Tax Credit
The Tax Cuts and Jobs Act makes changes to the general business credit by adding a new component credit for paid family and medical leave and changing two current component credits, i.e., the rehabilitation credit and the orphan drug credit. READ MORE here.
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Market Updates: November 2018
Commentary- Inflation Risks Have Started to Come Into Focus Considering the challenging environment for inflation-related assets in recent years—as evidenced by depressed breakeven spreads, negative real yields,
and the underperformance of inflation-linked versus nominal bonds—it’s fair for investors to ask “Is inflation dead?” READ MORE here. Commentary- The US Bull Market: Is it time to get out? Many investors are concerned that the U.S. stock market may have recently peaked. This is one of the longest bull markets on record, with valuations appearing elevated by some measures and the U.S. economy has avoided recession for almost a decade. READ MORE here.
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2018: Year-End Tax Planning Guides
The purpose of the DMJ planning letters is to bring year-end tax information to your attention as the calendar year 2018 draws to a close. Please carefully consider these items and how they may affect you or your business. Do not hesitate to contact us for further clarification on any of these matters.
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DMJ News & NotesDMJ has been named an INSIDE Public Accounting Fastest All-Growth Firm by a national publication serving the accounting profession. DMJ, headquartered in Greensboro, NC, was recently named to the IPA’s Top 300 Firms for the fourth year in a row, ranking 261, moving up 37 spots since 2017, reflecting the firm’s significant growth. In The Fastest All-Growth Firm ranking, DMJ was listed 9th overall and 3rd in the Southeast region.
DMJ is also pleased to announce the following promotions and new hire: - Cheryl DeCastro, CPA, of DMJ's Durham office and Mason Barringer, CPA, of DMJ's Greensboro office have been promoted to supervisor.
- Mike Smith, CPA, a consultant with DMJ Healthcare Consulting, has been promoted to supervisor.
- Kayla Weber, CPA, of DMJ's Greensboro office, has been promoted to senior accountant.
- Drew Haddock, CPA has been promoted to Tax Manager. Drew works in the Sanford office where he handles tax planning and compliance for corporations, partnerships, and individuals, especially closely-held businesses within the auto dealership, specialty finance, manufacturing, real estate, and agribusiness industries.
- Laura Hartley, CPA has also been promoted to Manager. Laura works specifically with many of DMJ's audits, reviews, and other attestation engagements.
- Jeff Marko, CPA joins DMJ as a Tax Manager in DMJ’s Durham office. He has over six years of public accounting experience and has worked with large multi-state C-Corporations, closely held S-Corporations and Partnerships, Sole Proprietorships, and high net-worth individuals throughout his career.
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Lunch n' Learn: Opportunity ZonesDMJ's Tax Manager, Drew Haddock, will discuss the new proposed regulations and a related revenue ruling regarding the designation of certain low-income community population census tracts as Qualified Opportunity Zones (“QO Zones”), eligible for favorable tax treatment as created by the Tax Cuts and Jobs Act (“TCJA”). Join DMJ on Tuesday, December 18 at noon to learn how elections can provide substantial tax benefits for taxpayers who can satisfy the detailed and quite complex set of rules. Space is limited.
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Exclusive Holiday EventIntroduce family and friends to a most inspiring tale. All guests are welcome at this DMJ WN2 women's event!
Join DMJ at 6:00 p.m. for a very special treat in the Carolina Theatre's of Greensboro's Renaissance Room on Monday, December 17! A visit from Santa and a hot chocolate reception from Ben & Jerry's kicks off the evening so be sure to bring your camera and your sweet tooth. The movie screening starts at 7 pm. Space is limited. Contact aanderson@dmj.com for more information.
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