Newsletters
Prior Articles
Evaluate whether a Health Savings Account is beneficial to you
With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical...
Investment swings: What’s the tax impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to...
Protect your construction business with careful project documentation
Here’s an often-overlooked fact: Meticulous recordkeeping plays a key role in running a successful construction business. Without proper documentation, you’ll likely struggle to support your position if a dispute arises. Worse yet, you may be unable to adequately...
Plan now for year-end gifts with the gift tax annual exclusion
Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate,...
7 questions contractors should ask before seeking outside financing
Construction companies can leverage loans, lines of credit and other such products to help ensure positive cash flow, build creditworthiness and fuel business growth. But the options can seem limitless and overwhelming. Here are seven questions to discuss with your...
Selling your home for a big profit? Here are the tax rules
Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher...
The tax consequences of employer-provided life insurance
If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of your benefits package, and the coverage is higher than $50,000, there may be undesirable income tax implications. You’re...
Disabled family members may be able to benefit from ABLE accounts
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE)...
What construction businesses with inventory should know about Section 263A
Section 263A is an often misunderstood and misapplied part of the Internal Revenue Code. And it’s one that many construction businesses — particularly homebuilders — should get a handle on to avoid unexpected tax issues and unwanted attention from the IRS. Let’s...
Can you deduct student loan interest on your tax return?
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction...
Pocket a tax break for making energy-efficient home improvements
An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the...
Check your construction company’s vital signs with KPIs
When you go to the doctor, the first thing the medical staff likely does is check vital signs such as your temperature and blood pressure. They do so because, if any of these measurements are outside the norms, the doctor may need to elevate your level of care....
Dedicated, Mindful and Accountable.
DMA Accountancy Corporation
1400 N. Harbor Blvd., Ste #605
Fullerton, CA 92835