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Outdated tax software and technology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

IRS Revenue Ruling 2019-11 Clarifies Tax Treatment of State and Local Tax Refunds with New SALT Limit

On Friday, March 29, the Internal Revenue Service (IRS) issued Revenue Ruling 2019-11 (the Ruling), providing guidance on the treatment of state and local tax refunds received when a tax deduction was claimed for those taxes in a prior year. This guidance is relevant with respect to the itemized deduction cap on state and local tax taxes. The ruling provides four examples illustrating when a SALT refund should be included in federal taxable income. The IRS also noted that the Ruling does not impact state or local tax refunds received in 2018.

Individual Income Tax Extensions FAQ

Publication | Mar 27, 2019
More About | Tax | Risk & Regulatory

The IRS and states offer taxpayers an extension of time to file income tax returns. You, the taxpayer, must request the extension of time to file by the regular due date of your return to avoid a possible penalty for filing late. An extension of time to file is not an extension of time to pay.

Bipartisan Legislation Introduced for Quality Improvement Property Fix and Tax Extenders

Alert | Mar 19, 2019
More About | Tax | Tax Reform | Risk & Regulatory

On March 14, Senators Pat Toomey and Doug Jones introduced the Restoring Investment in Improvements Act (the Act), which would make qualified improvement property (QIP) 15-year property and eligible for bonus depreciation under the Tax Cuts and Jobs Act (TCJA).

Tax Considerations for Selling a Business

Succession planning for your business in 2019 can be a complex endeavor, requiring multiple counsel and advisors on your team helping you set goals, objectives and decision-making processes for a successful transfer. Having a strategy for the future of you and your business offers numerous benefits, such as security and financial stability, protection of profitability, reducing potential litigation and creating a smooth transition in the event of unforeseen circumstances like death or divorce. However, it’s likely that most business owners do not currently have a plan in place, and those that do have likely not discussed their plan with their team of advisors.

Wayfair and the Impact on Manufacturers and Distributors

With the vast changes in sales tax requirements among states due to the impact of Wayfair, manufacturers should consider how this will apply to them. The summary below discusses how this could impact businesses throughout the U.S. Some of the issues most applicable to the manufacturing industry include: