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November Newsletter


Here are your Articles for November 4, 2022.

DK Partners featured in Los Angeles Business Journal

We are so proud of our Partner in Charge, Los Angeles – Donna Feder on her inclusion in the Los Angeles Business Journal’s Women of Influence: Accounting issue. You can find her profile here and the special section here.
Our Managing Partner, Mark Kruspodin has made the list of the Top 100 Accountants in Los Angeles which will be announced on November 9th at the Top 100 Accountants Awards 2022.

Click through for more exciting DK news including updates on Partner in Charge, San Diego – Josh Bodenstadt and Managing Partner Mark Kruspodin – plus more!

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The Impact of the Inflation Reduction Act on the Electric Vehicle Tax Credit

The Inflation Reduction Act (IRA) that President Biden signed over the summer made significant changes to rules for electric vehicle (EV) tax credits. Most changes apply for 2023 and beyond, while the tax credit will be available through 2032.

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IRS Announces 2023 Contribution Limits to Retirement Plans

In Notice 2022-55, the IRS has announced 2023 inflation-adjusted contribution limits, phase-out ranges, and income limits for employees who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan.

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IRS Warns Employers About Improper ERC Claims

The IRS is warning employers about improper claims for the employee retention tax credit (ERTC). Specifically, the IRS is reporting that some third-party companies are offering bad advice to businesses regarding eligibility or the estimated value of the
ERTC.

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The IRS Has Announced Various Tax Benefit Increases for 2023

The IRS recently announced the 2023 annual inflation adjustments for many tax provisions, including tax rates, the standard deduction, the alternative minimum tax exemption, the annual exclusion for gifts, the estate tax exclusion and more. This article provides some of the amounts, which have increased more than in recent years due to inflation.

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Energy efficiency in commercial buildings has long been rewarded with favorable tax treatment. Some of those tax advantages became permanent last year. Now — included in the recently passed Inflation Reduction Act — is an expansion of the energy-efficient commercial buildings deduction, making it available to more designers and building owners, and raising the amounts. This article explains the basics of the so-called Section 179D deduction.
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Today’s market conditions have brought working capital management to the forefront. What’s worked for your business in the past might not make sense in the current economy. This article discusses a recent study on working capital trends during the pandemic and highlights three areas to focus on to strike a company-specific balance between liquidity safety nets and cash-flow efficiency.
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Under the tax law there are no current tax deductions for demolishing a commercial building — for example, if you’re tearing it down to replace it with a new one. There may be one way to claim some valuable write-offs for demolition costs. But it requires taking certain steps before the wrecking ball arrives.
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Unfortunately, the individual alternative minimum tax (AMT) is still in place after the passage of the latest tax reform law. However, current law makes the AMT rules more taxpayer-friendly and reduces the odds that you will be hit with the complex tax. This article explains who still owes the AMT and how you can still benefit by making moves to avoid or minimize it.
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Life insurance is designed to help protect a household from the financial hardships that may result after the untimely death of
a primary wage earner. But how will the death of a key person in a small business affect the operation? Read on to learn more about safeguarding a business by creating a buy-sell agreement.

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