Tax

Tax Reform Legislation

The most significant tax legislation in the past 30 years is now law. Many taxpayers will see changes in how they compute taxable income and to their income tax liability. Businesses and individuals will see changes to their income tax rates, elimination or modification to credits, deductions and other tax preferences, and a host of other changes. Every taxpayer should expect and prepare accordingly for how this new legislation will affect their tax situation.

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Tax Compliance

DHG understands the complexities you face and can help you effectively navigate the course.

Organizations large and small face the burden of tax compliance at various levels. The more territories in which you conduct business, the higher the regulatory demand; however, even basic requirements such as federal income tax returns can pose unwanted stress and exhaust resources that could otherwise be directed towards profitable business activity. Additional concerns include:

Avoiding reported material weaknesses for financial reporting due to tax dilemmas
Streamlining tax compliance processes with the right tools and technology
Filling a resource gap you may have in your tax department
Avoiding non-compliance penalties
Managing regulatory demands across multiple territories, states and countries

At DHG, we will work side by side with you to help ensure you meet compliance at all levels in a cost-efficient and resourceful manner.

Our service approach focuses on you, not us.

Our goal is to meet your needs. Some companies need assistance in all compliance areas while others may just need assistance in a specific, more complex area. From outsourcing to co-sourcing, we are here for you. The combination of industry insight, national resources, competitive fees and a relationship-driven engagement boosts DHG past our competition as the right choice.

Tax Advisory

The tax scene can be complex and challenging to pilot. DHG is prepared from all angles.

DHG’s Tax Advisory professionals always keep current with evolving tax regulations and trends, allowing us to provide you with timely insight and tools and help you confidently handle challenges such as:

Overlooked opportunities for tax breaks and credits
Outdated tax software and technology
Complex tax planning at the local, state, federal and international levels
Non-compliance penalties
Selecting the appropriate accounting method
IRS controversy
Tax structuring for complex transactions, like a merger or acquisition

You seek to mitigate risk and elevate opportunity from a tax perspective. We collaborate to help you achieve your goals and more.

Our resourceful professionals are dedicated to gaining a comprehensive understanding of our clients’ unique businesses. Furthermore, DHG’s presence in a multitude of industries contributes to a large pool of knowledge from which we draw to help identify solutions. We combine responsive, personal service with collaborative industry and tax experience to meet your needs and exceed your expectations.

DHG leverages global resources, nationwide relationships and local appeal to meet your tax needs, inside and out.

Knowledge Share

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Section 179D Green Incentives Retroactively Extended

On Dec. 20, 2019, the Omnibus Appropriations Bill H.R. 1865 was signed into law, which provided an extension for the Section 179D energy efficient building deduction, now allowing projects placed in service in 2018, 2019 and 2020 to be certified for qualifying energy tax incentives. The Section 179D tax deduction was originally passed as part of the Energy Policy Act of 2005; on Feb. 9, 2018, the Bipartisan Budget Act was also passed to provide a one-year retroactive extension for Section 179D for projects placed in service in 2017.

District of Columbia Office of Tax and Revenue Announces an Important Change to its Long-Standing Interpretation of “Statutory Resident”

Alert | Jan 17, 2020
More About | Tax | State & Local Tax | Risk & Regulatory

For the 2020 income tax filing season, taxpayers claiming part-year residency may now be required to file as a “Statutory Resident,” recently announced the District Office of Tax and Revenue (OTR).

Texas Adopts $500,000 Gross Receipts Franchise Tax Economic Nexus Threshold

On Dec. 20, 2019, the state of Texas amended its franchise “margin” tax nexus rule (34 TAC Section 3.586) to assert that Texas franchise tax economic nexus for foreign corporations is established by exceeding the brightline threshold of $500,000 of sales into the state. The amendment relies upon the Supreme Court’s 2018 Wayfair decision by asserting that constitutional nexus may be created without physical presence.

Update: Parking Expenses as Qualified Transportation Fringes

Alert | Dec 30, 2019
More About | Not-for-Profit | Tax | Risk & Regulatory

On December 20th, 2019 the Further Consolidated Appropriations Act, 2020 (the Act) was signed into law. The Act contains a repeal of what has been referred to as a “parking tax” on tax exempt organizations.

FASB Releases ASU 2019-12 as Part of Simplification Initiative

On Dec. 18, 2019, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2019-12, which affects general principles within Topic 740, Income Taxes. The amendments of ASU 2019-12 are meant to simplify and reduce the cost of accounting for income taxes. The FASB has stated that the ASU is being issued as part of its Simplification Initiative, which is meant to reduce complexity in accounting standards by improving certain areas of generally accepted accounting principles (GAAP) without compromising information provided to users of financial statements.

Webinar Recordings

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Private Company Live Stream: What to Look for in 2020

Join DHG professionals on January 9th as we discuss top issues affecting private companies. We’ll facilitate an interactive conversation to discuss the impacts of recently released guidance from FASB, the latest updates on tax reform, corporate culture and talent engagement, as well as IT trends.

Year End Tax Planning Webinar for Construction and Real Estate Companies

Many construction and real estate companies contemplate opportunities to minimize their income tax payments as the end of the year approaches and address potential traps and pitfalls to avoid. Join us December 12, 2019 as we discuss top tax planning opportunities and risk mitigation techniques to consider post tax reform.

Year End Tax Planning Webinar for Large Businesses and International Companies

Many taxpayers contemplate opportunities to minimize their income tax payments as the end of the year approaches and address potential traps and pitfalls to avoid. Join us as we discuss top tax planning opportunities and risk mitigation techniques.

Year End Tax Planning Webinar for Private or Small Businesses and Individuals

Many taxpayers contemplate opportunities to minimize their income tax payments as the end of the year approaches and address potential traps and pitfalls to avoid. Join us as we discuss top tax planning opportunities and risk mitigation techniques to consider post tax reform.

Top Issues Affecting Private Companies

Join DHG Assurance, Tax & Advisory professionals on January 9th as we discuss top issues affecting private companies. We’ll facilitate an interactive conversation to discuss the impacts of recently released guidance from FASB and the IRS.