Proactive service is more than just suggestions and recommendations from a CPA, advisor or consultant – it’s an educational experience that provides you with tools, knowledge and support. That’s why DS+B professionals are active members in professional associations to understand industry trends and hot topics. It’s why we seek out and learn from the best in every business. It’s so we can bring you insight and guidance to run a better business, engage in effective tax planning or understand the financial outcomes of big decisions.

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How the Pass-Through Deduction Affects Healthcare Practices and Physician Owners

For medical practices and physicians, the Tax Cuts and Jobs Act adds a new 20% deduction for qualified business income (also referred to as the “pass-through deduction”). However, there are caveats to consider when planning for the impact of tax reform. This article outlines the two biggest hurdles for physicians in taking advantage.

Tax Reform: IRS Issues 2018 Withholding Tables

The revised IRS withholding tables reflect the TCJA’s increase in the standard deduction, suspension of personal exemptions and changes in tax rates and brackets. Employers must move to incorporate the new tables into their payroll systems as soon as possible — and no later than February 15, 2018. Read more on the changes, and actions required, for businesses.

Beyond Federal Tax Reform: A Guide for Minnesota Estate Tax Planning

While the Tax Cuts and Jobs Act of 2017 increased the federal exemption from estate tax to $11M per taxpayer, the requirements regarding Minnesota Estate Tax were changed in 2017 for the years 2017-2020. In this article, we take a closer look at the Minnesota changes, non-resident estate tax that has far-reaching implications, and gift tax details that can help you with effective wealth planning decisions.

Tax Reform: Key Changes for Employers on Employee Fringe Benefits Deductions and Credits

For employers, it is important to note compliance changes and new rules in the TCJA when reviewing employee benefits policies for 2018 and beyond. The following guide is an analysis and summary related to changes in the new law and tax rules for employee fringe benefits. Be sure to consult your tax professional for your specific situation.

TCJA Provides More Generous Depreciation-Related Tax Breaks

If your business is buying new assets in 2018 or undertaking a qualified remodeling project for the interior of a nonresidential building, you may be able to benefit in several ways under the new tax reform law, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA). You even may be able to take advantage of some of the enhancements on your 2017 tax return.

Estate Plans: What Changed with the Tax Cuts and Jobs Act?

Effective January 1, 2018, the Tax Cuts and Jobs Act of 2017 (TCJA) reduces individual and corporate tax rates, eliminates a host of deductions and credits, enhances other breaks and makes numerous additional changes. One thing the TCJA doesn’t do is repeal the federal gift and estate tax, as originally contemplated by the House of Representative’s version … Read More