February 2024 Newsletter

DK has won the Best of Accounting Award for providing superior service to our clients.

DK is hosting its First Annual Food Drive.

DK congratulates Partners Livia Benjamin, Daisy Hom, and Suzie Korth for their recognition as 2024 Women of Influence in Accounting & Finance by the San Diego Business Journal.

In a recent news release, the IRS reminded taxpayers that they once again must answer a digital asset question and report all digital asset-related income when they file their 2023 income tax return.

Married couples may face an important tax decision each year: Which tax filing status should they use? The so-called “marriage penalty” still exists under current tax law, but it’s now smaller and affects fewer taxpayers than in the past. And some taxpayers may reap a tax bonus when they file jointly, compared to when they were single. Here’s information to help decide what’s right for your situation.

There are new-and-improved credits for qualifying electric vehicle (EV) purchases from 2023 through 2032. Here are details on which taxpayers and vehicles may be eligible for the clean vehicle credit and how to claim it on your federal income tax return — or possibly receive a discount when you purchase a qualifying vehicle.

“I’ve got a great idea!” These words, or words like them, have launched many a conversation between budding entrepreneurs and family members or friends. If you’re the latter, it’s imperative to move slowly and cautiously when deciding whether to provide the money. This article discusses the key implications of making gifts, loans or equity investments to relatives or friends who are seeking to launch a startup.

Do you own a large boat or recreational vehicle? In addition to the pleasure you get cruising around in it, you may also be eligible for some federal tax breaks, if you meet certain requirements. This article provides a brief rundown of four possible tax-saving opportunities related to your vehicle or vessel.

Do you have a sizable estate that you’ll be leaving to your adult children? Then your children probably need an estate plan of their own. To encourage them to plan for their estates, consider these quick tips.