Dannible & McKee, LLP is pleased to present the April issue of our Tax & Business Alert
Most individuals don't regard themselves as businesses, trying to turn a profit and beat the competition. But, occasionally, it may help to look at one's financial situation this way to determine where to cut expenses and boost cash flow. This article provides some tips, including creating a personal net worth statement and practicing risk management.

Business vs. Hobby: The Tax Rules Have Changed
The tax implications of earning money from an activity will vary depending on whether it is considered a hobby or business by the IRS. And the rules recently changed under the Tax Cuts and Jobs Act. This article reviews the hobby vs. business distinction and explains what's new.

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Are Income Taxes Taking a Bite out of Your Trusts?

Business owners may think that, if they repair a piece of tangible property, they'll qualify for an immediate tax deduction. But the IRS may define that "repair" as an "improvement," and require the costs to be depreciated over a much longer period. This article explores the difference.

Small Business Owners Should Double-Check Their Tax Returns

It may sound too good to be true, but there may be valuable unclaimed property out there for just about anyone. This brief article offers tips on how to start looking and what to do if one discovers unclaimed property in his or her name.

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Featured Article from Our Experts

 
There are several reasons to start a business succession plan now, even though you may not intend to retire or relinquish control in the near future. Dannible & McKee Tax  P artner  Deborah Finch, CPA/ABV, CVA, CDA addresses the key factors of why it is important to start the process sooner rather than later.

 
 
About Dannible & McKee, LLP
 
Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978.  Throughout this forty-year history, we have been wholly dedicated to the success of our clients. Every aspect of our business has been guided by our values and our commitment to putting each client's interests first. In a complex profession, we have found our greatest rewards in the simplicity of helping good people prosper. Delivering confidence in every financial decision is our goal for our clients and it's also the most significant way we can contribute to their long-term success.

 
To learn more about Dannible & McKee, visit us at: www.dmcpas.com

Dannible & McKee, LLP | [email protected]  | (315) 472-9127 | www.dmcpas.com
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