October 2020
Compare and Contrast: How Do the Republican and Democratic Tax Plans Differ?

With the presidential election just days away, many people are paying closer attention to each candidate’s position on such issues as the COVID-19 pandemic, health care, the environment and taxes. Among their many differences, President Donald Trump and former Vice President Joe Biden have widely divergent tax proposals. Their stances could have a major impact on the amount of taxes you’ll owe in the future. In this article, we have provided an overview of each candidate’s tax proposals for both individuals and businesses.
The Pros and Cons of NQDC Plans
Nonqualified deferred compensation plans allow participants to set aside large amounts of tax-deferred compensation, but also pose substantial risks. This article distinguishes NQCD plans from qualified defined contribution plans and discusses the pros and cons.
Beware of “Wash Sales” When Selling Securities
Under this tax rule, if a taxpayer sells stock or securities for a loss and buys substantially identical stock or securities back within the 30-day period before or after the sale date, that loss can’t be claimed for tax purposes. This article provides some key details for taxpayers about this often-surprising rule.
Is It Time for a Cost Segregation Study?
A cost segregation study combines accounting and engineering techniques to identify building costs that are properly allocable to tangible personal property rather than real property. As a result, the business that owns the real property can claim valuable tax breaks. This article explores the concepts behind cost segregation studies.
Register for our Virtual Tax & Financial Planning Conference on November 12th
This conference is designed to provide valuable insight on recent tax, accounting and financial changes, along with highlights of the opportunities and challenges businesses and individuals will face this year. CPE credit will be offered.
Dannible & McKee's Tax Planning Guide
To save the most on your 2020 taxes, you need to plan carefully and take advantage of all deductions, credits and other breaks that current tax law allows. This is exactly what our online Tax Planning Guide can help you do. We hope you find this resource helpful in identifying the strategies and tax law provisions that apply to your situation. Feel free to contact your Dannible & McKee partner representative with any questions you may have.

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 plus years' 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