Featured Article From Our Experts
Recent Changes to Depreciation of Qualified Improvement Property

On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to speed economic relief associated with COVID-19. The CARES Act also included an important revision to depreciation rules enacted as part of the Tax Cuts and Jobs Act, which corrected a drafting error commonly known as the "retail glitch.” This correction can provide a significant acceleration of depreciation for certain qualifying improvements. In this article, we will review the changes to Qualified Improvement Property (QIP) depreciation and how they may impact taxpayers. 

Reviewing the Finer Points of the Section 199A Tax Deduction
It’s been over a year since the IRS issued final regulations regarding Internal Revenue Code Section 199A. This Code Section created a tax deduction enabling owners of sole proprietorships, partnerships, limited liability companies and S corporations to write off up to 20% of their qualified business income. This article reviews the limits and construction specifics of the tax break.
Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes
The IRS has issued guidance to employers about the presidential action to allow employers to defer certain payroll taxes. But employers still have questions and concerns about whether, and how, to implement the deferral. Click through to read more about what the guidance says.

Business Valuation Checklist
Every business should have a baseline business valuation. Several factors are included in this calculation. Click through to read more about what a business valuation entails, so that you can prepare for the process.


About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders, and we are actively involved with our construction clients and the many organizations affecting their businesses. We go beyond our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Because of our comprehensive familiarity with all aspects of construction, we’re able to assist you in business planning and long-term goals, all while resolving your daily operational needs to maximize cash flow.

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