Author name: WDCO Staff

It is important for business owners to be familiar with the differences between a W-2 and a 1099-NEC, between an employee and an independent contractor.  Understanding these differences can help prevent significant penalties, interest, back taxes, legal fees, and even jail time. The January 31, 2022 due date for filing these forms with the IRS

As we assess the damage, rebuild, and recover from Hurricane Ida, Stephen Albert, CPA and Richard Tullier, CPA briefly explain the tax deduction available to individuals for casualty losses. Read further for a casualty loss summary. In general for insurance claims after hurricanes and other disasters: a casualty loss is determined by comparing any proceeds

Wegmann Dazet’s Victoria Tecchie reminds organizations to review their federal funding award requirements, which can change frequently. With CARES Act funding, you might be subject to a single audit without ever having had one before. Both dollar-level criteria and each federal award program’s own requirements can lead you to a Single Audit. These awards may

Both the IRS and the Louisiana Department of Revenue have issued tax updates for IDA relief: extensions for tax return and payment deadlines that were due starting on August 26, 2021. Wegmann Dazet is here to help, working in our offices and remotely to help with any questions you have.  We know many of our

  So you received the PPP funds you applied for… now what?  You need to determine how to account for the loan, and accounting standards impact financial statements differently. Wegmann Dazet’s Brandon Sekinger explains. As of August 8th, the Small Business Administration reported lending over $500 billion to over five million businesses across the U.S.

Rental Real Estate?  Residential landlords are now much more likely to be able to deduct most of their current expenditures. This discussion is intended to provide a road map for making the correct determinations and elections. https://www.thetaxadviser.com/issues/2019/apr/residential-real-estate-deductions-2018.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=23Apr2019

Check out this article from Forbes Magazine that will drive your focus going forward. https://www.forbes.com/sites/jamiehopkins/2019/02/20/2-ways-the-199a-deduction-has-changed-retirement-planning/#1d96a4211429

Zoom in on this article from our friends at BDO USA for great insight on 2019 tax strategies. 2019 Eight Key Tax Planning Opportunities

What to Expect from the IRS as the Government Shutdown Continues