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December 2024

John F. Martin

CPA/PFS, CFP®

Tax Partner

Featured Article From Our Experts

Anticipating Tax Changes After the 2024 Election


As the new year approaches, President-Elect Trump prepares to return to the White House, bringing potential shifts to the tax landscape. Businesses and individuals alike should start planning for how these changes could impact their financial strategies. In this article, I'll examine the proposed tax policies that could have a significant effect on your financial outlook and provide actionable insights to help you navigate the evolving tax environment.



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A Valuation May Lead to a Better Business Future

Valuations aren’t just useful for business owners seeking to retire or to sell their companies. A good way to view a valuation is as a checkup that can assist you in planning for a better future for the business. This article looks at the many benefits of business valuations.  



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A Cost Segregation Study May Cut Taxes and Boost Cash Flow

A cost segregation study is a strategic tax planning tool that allows a business property owner to accelerate depreciation deductions. That, in turn, will enable the owner to reduce taxable income and increase cash flow. Take a look at the powerful tax benefits of this tool.


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Feeling Charitable? Be Sure You Can Substantiate Your Gifts

At this time of year, many people’s thoughts turn to charity. To avoid losing valuable charitable deductions, it’s important to become familiar with substantiation requirements. This brief article details what kind of “proof” is needed, depending on the donation details. 



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Not Every Disaster Allows for a Casualty Loss Tax Deduction

Every year, many Americans become victims of natural disasters, such as hurricanes, fires, floods and more. Unexpected disasters may cause damage to homes and personal property. This article defines a personal casualty loss and briefly outlines the rules for making a personal casualty loss claim on a taxpayer’s federal income tax return. 


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Register for Our Annual Nonprofit Conference on January 9, 2025!

Don't miss our Annual Nonprofit Conference. This virtual conference will deliver valuable insights into the financial and operational challenges facing the nonprofit industry today, equipping you with the tools to manage your organization or serve on a board more effectively. Attendees will also have the opportunity to earn CPE credits.


Register Now

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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-five-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.


OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607


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