IRS Clarifies 2024 R&D Expensing Rules for Businesses
The 2025 Tax Act, commonly known as the One Big Beautiful Bill (OBBB), reinstated expensing of research and experimentation or development (R&D) costs. For the last three years, all taxpayers…
What It Means to “Be Greater”: Reflections from the Future of Our Profession
At DMJPS CPAs + Advisors, our internship program is about more than learning how to prepare tax returns or navigate accounting software—it’s about helping the next generation of professionals grow…
Personal Provisions of the 2025 Tax Act- The Big Beautiful Bill
On July 4, 2025, the 2025 Tax Act was enacted with the President’s signature. Formerly and commonly referred to as the One Big Beautiful Bill (hereafter, the Act), the Act…
Business Provisions of the 2025 Act- The Big Beautiful Bill
On July 4, 2025, the 2025 Tax Act was enacted with the President’s signature. Formerly and commonly referred to as the One Big Beautiful Bill (hereafter, the Act), the Act…
Public Markets and Private Values
Key Takeaways Public market trends shape private valuations — not directly, but by influencing perceived risk, buyer behavior, and discount rates. Economic uncertainty drives caution — investors, lenders, and buyers…
Proposed HIPAA Updates Healthcare Organizations Should Know About
All healthcare organizations, including healthcare providers and medical insurance companies, must follow the Health Insurance Portability and Accountability Act (HIPAA) guidelines. However, because HIPAA is updated on occasion, healthcare organizations also have…
IRS Extends Tax Deadlines for North Carolina Storm Victims: What You Need to Know
The IRS has extended federal tax filing and payment deadlines to September 25, 2025, for taxpayers in FEMA-designated disaster areas. Specifically, this relief is granted due to the lingering effects…
Special Year-End Audit Considerations for 2025
For many companies and organizations, audits are an important part of mitigating risks, streamlining operations, and keeping business running smoothly. However, if your organization is preparing for a year-end audit,…
New Executive Order: Ends Federal Paper Checks by September 30, 2025
On March 25, 2025, President Trump signed an executive order requiring all federal disbursements to be made electronically by September 30, 2025. This directive impacts a wide range of federal…
How to Choose Between Standard Mileage and Actual Expenses for Tax Deduction Purposes
As a small business owner, handling your own business taxes probably isn’t your favorite pastime. Still, when it comes time to prepare your tax return, you’ll want to take advantage…
Using a Business Valuation to Provide More Than Just A Value
More often than not, it is a specific event which triggers a company or an advisor to request a business valuation. This can be from a tax reporting event (estate…
The Latest Developments in Treasury Department Beneficial Ownership Information (BOI) Reporting
The Treasury Department’s approach to Beneficial Ownership Information (BOI) has seen significant updates recently, including new guidance. Beneficial Ownership Information (BOI) refers to the details about the individuals who ultimately…