IRS Grants Automatic Extension For Certain Tax Payments
March17,2020 Individual and certain corporate tax returns are due April 15. In the past, even if an extension was obtained, any projected tax owed had to be paid at that time or late payment penalties and interest would be assessed. On March 17, 2020 the IRS announced that it will postpone the obligation to pay […]
Does Your Business Need a Backup Plan to Ensure Key Process Continuity?
DMJPS explains why it’s critical for businesses to plan for the unexpected by having key processes documented.
Take Time to Protect Your Business with Succession and Exit Planning
Entrepreneurs often risk everything in pursuit of a dream and those who succeed are an inspiration for future generations. As the business grows and owners deal with the daily aspects…
Home Mortgage Interest Deduction
If you own a home, the interest you pay on your home mortgage provides a tax break. However, many taxpayers believe that any interest paid on their home mortgage loan…
Should You Switch From Accrual to the Cash Method of Accounting?
The passage of the Tax Cuts and Jobs Act of 2017 (TCJA) created additional opportunities for taxpayers to choose the cash method of accounting as the definition of a small…