IRS Updates Guidance on Business Expense Deductions for Meals & Entertainment

The proposed regulations affect taxpayers who pay or incur expenses for meals or entertainment.

Business Owners, Individuals, IRS News, Tax ReformThe Doty GroupFebruary 25, 2020Tax Cuts and Jobs Act, TCJA, Business Expenses, Meals Expenses, Meals and Entertainment Expense, IRS, Proposed RegulationsComment

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

National Tax Security Awareness Week, Day 3: Creating strong passwords can protect taxpayers from identity theft

A strong password helps protect your online accounts and the sensitive data contained within them.

Business Owners, Individuals, IRS News, Tax ReformThe Doty GroupDecember 4, 2019Tax Security, National Tax Security Awareness Week, Cybersecurity, Security, Security SummitComment

Treasury, IRS issue final regulations on the Foreign Tax Credit

The Foreign Tax Credit is a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments.

Individuals, IRS News, Services, Tax ReformThe Doty GroupDecember 2, 2019Foreign Tax Credit, Tax Cuts and Jobs Act, TCJA, International Tax, 245A, GILTIComment

IRS and Security Summit partner offer Cyber Monday shopping tips to protect computers, mobile phones

When shopping online, the IRS and Summit partners remind taxpayers to protect themselves with these tips.

IRS News, IndividualsThe Doty GroupDecember 2, 2019National Tax Security Awareness Week, Security Summit, Cyber Monday, Smartphone Security CheckerComment

Watch Out For Gift Card Scams!

Gift card scams are on the rise. Here is what to look out for this holiday season.

IRS News, IndividualsThe Doty GroupNovember 27, 2019Gift Cards, Scams, Security, IRS Impersonation ScamComment

Real Estate Tax Tips - Involuntary Conversions

An involuntary conversion, or ‘1033 exchange’, is similar to a ‘1031/like-kind exchange,’ but more generous in some ways, and can occur in various situations such as destruction, seizure, theft, requisition/condemnation, or threat thereof to investment property.

Business Owners, From The Doty Group, IndividualsCatalin Clarke, CPANovember 20, 2019The Doty GroupReal Estate, Real Estate Investors, Investment Property, Section 1033 Exchange, Involuntary Conversion, Capital GainComment

Gift and Estate Tax Savings: How Getting a Valuation Now Can Save You Later

How The Doty Group can increase your savings on tax and professional fees when carrying out your gift and estate planning

Business Owners, From The Doty Group, Individuals, ServicesAidan HeltNovember 14, 2019The Doty GroupValuation, Valuation Discounts, Gift and Estate Tax Valuation, Litigation and Valuation Services, Shelley Drury, Gifting, Minority Ownership Interests, LLCs, FLPsComment