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Here are your articles for August 1, 2019.
Kyle Donham Joins Firm as Senior Tax Manager

CDL is pleased to announce that Kyle Donham  has joined the Firm as a Senior Tax Manager.

Kyle is a Certified Public Accountant and specializes in tax planning and compliance for high net worth individuals including closely held businesses, investment partnerships, trusts and estates.

He began his accounting career in West Palm Beach in 2007.  Kyle received a Master of Accounting from Florida Atlantic University in Boca Raton and a Bachelor of Science from Palm Beach Atlantic University in West Palm Beach.

Kyle is a member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants.  


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In August, a total of 15 CDL team members were promoted, while a Tax Senior Accountant was named President of a local professional association.   CDL would like to recognize and congratulate them all!

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Charity support and volunteerism is an important part of CDL.  For the first time, CDL sponsored and participated in the 2019 Back to School Bash.  In addition, for the fourth time in a row, CDL has been one of the top fundraisers for the Palm Beach and Treasure Coast chapter of  the Leukemia and Lymphoma Society.  

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Only half of private sector employers with fewer than 100 employees sponsor retirement plans. But more small businesses are likely to join the bandwagon thanks to a new final rule issued by the U.S. Department of Labor. The rule will allow more businesses, including self-employed individuals, to offer multiple employer plans (MEPs) that provide their employees a defined contribution plan. Here are the details.
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If you provide financial support for a parent, you might qualify for some well-deserved tax breaks. This article explains the eligibility requirements for: 1) a new credit for nonchild dependents, 2) an itemizable deduction for paying a dependent parent's medical expenses, and 3) head of household filing status for unmarried taxpayers.
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If the IRS claims a taxpayer committed fraud, the burden is on the government and it must prove fraudulent behavior by clear and convincing evidence. If fraud is found, the penalty is 75% of the underpayment and there is no statute of limitations. Here is one Tax Court case in which a taxpayer was found liable for the fraud penalty and what other business owners can do to protect themselves.
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A growing number of women are paying their ex-spouses child support and alimony, according to a survey done by a lawyer's organization. Here's a look at the survey results, along with information about the "manimony" trend and how family courts make determinations about alimony.
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Companies that do the best in recognizing employee excellence enjoy levels of profitability more than three times greater than companies that do a poor job of rewarding excellence. That's the finding in research that surveyed 26,000 employees. The study's results illustrate a strong link between employee recognition for excellence and profitability. For details, click "Full Article."
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Our firm provides the information in this e-newsletter for general guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, expressed or implied, including but not limited to warranties of performance, merchantability and fitness for a particular purpose.


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