Newsletters
Prior Articles
Making the most of the new deduction for seniors
For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill Act (OBBBA). But an income-based phaseout could reduce or eliminate your deduction. Fortunately, if your income is high...
5 potential tax breaks to know before moving a parent into a nursing home
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on your mind. But there may be tax implications. Here are five possible tax breaks. 1....
Final regs clarify catch-up contribution rules under SECURE 2.0
Remember the SECURE 2.0 Act? It was part of a massive year-end “omnibus” spending package signed into law in 2022. Like many laws, SECURE 2.0 contains provisions that necessitate federal implementation guidance. One area of particular concern for employers has been...
The OBBBA resurrects the immediate R&E expense deduction
Under the Tax Cuts and Jobs Act (TCJA), businesses, including manufacturers, have been required since 2022 to amortize domestic Section 174 research and experimental (R&E) costs over five years, rather than deduct them in the year incurred or paid. Manufacturers...
Understanding the most common IRS notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make a mistake? Am I in trouble? The truth is, IRS notices aren’t uncommon, and most of them can be resolved fairly...
The power of catch-up retirement account contributions after 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA contribution amounts For 2025,...
Survey reveals key safety practices for construction companies
Operating a construction business requires actively and comprehensively addressing workplace safety. The well-being of your employees depends on how successfully leadership creates, deploys and upholds comprehensive policies and procedures for a safe work environment....
Employer-provided meals will face different tax treatment next year
For years, employer-provided meals — such as free lunches, breakroom snacks, and food offered to staff working late shifts or overtime — enjoyed fairly beneficial tax treatment. However, for most organizations, the tax rules will tighten considerably beginning in...
Larger QBI deductions will soon be available to many manufacturers
In a 2024 National Association of Manufacturers (NAM) survey, 93% of respondents who operate as pass-through entities stated that the impending expiration of the Section 199A qualified business income (QBI) deduction would negatively impact their ability to grow,...
Payroll tax implications of new tax breaks on tips and overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For 2025–2028, the OBBBA creates a new temporary federal income tax deduction that can...
4 ways employers can run a more cost-effective retirement plan
Once an organization reaches a certain size, it’s difficult to compete for talent and retain employees without sponsoring a qualified retirement plan. However, the costs of doing so can be intimidating, and plan administration might seem overwhelming. Let’s explore...
Teachers and others can deduct eligible educator expenses this year — and more next year and beyond
At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in...
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