COVID Resources

Birmingham Accounting Firm

Sam Estes Joins Dent Moses Team

Dent Moses LLP., is pleased to announce that Sam Estes recently joined the firm as a Staff Accountant. Prior to joining Dent Moses, he served as Staff Accountant at Carr, Riggs & Ingram, LLC., where he audited governmental entities and employee benefit plans, and prepared tax returns for corporations and individuals. He received his Bachelor…
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Dent Moses Partner and Manager Honored by UAB Collat School of Business and Birmingham Business Journal

Dent Moses Managing Partner, Mike Baker was named 2019 Accounting Alumnus of the Year, while Manager, Jessica Bou Akar was recognized as the 2019 Accounting Young Alumnus of the Year by the University of Alabama Collat School of Business. This is the first year the Accounting Young Alumnus award was presented making  Bou Akar the…
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The Tax Cuts and Jobs Act— The Death of Alternative Minimum Tax?

The Tax Cuts and Jobs Act (TCJA) made major changes to the Alternative Minimum Tax (AMT). The minimum tax was enacted in 1969. The idea was for high-income households (with lots of deductions) to pay their share of taxes. There was a problem, though. The AMT exemptions were never indexed for inflation, so as wages…
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The Tax Cuts and Jobs Act—Few Changes for Capital Gains and Qualified Dividends  

PART 8 Sometimes the more things change, the more they stay the same. That’s the case with the Tax Cuts and Jobs Act (TCJA) as it relates to capital gains and qualified dividends. What changed? Not a lot, actually.   First of all, the tax reform act retained the same capital gains rates on long-term capital…
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Are Repairs to Tangible Property Deductible?

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed and deducted on the current year’s income tax return. But costs incurred to improve tangible property must…
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The Tax Cuts and Jobs Act—Estate Tax Relief

The Tax Cuts and Jobs Act (TCJA) has made it easier for you to share your wealth. Prior to the TCJA, the lifetime exemption was $5.49 million. Beginning in 2018, tax reform doubles the exemption to $11.2 million per individual (a total of $22.4 million for a married couple). These limits apply for estate, gift…
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What’s your mileage deduction?

Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use a standard mileage rate to compute your deductions. For 2017, you might be able to deduct miles driven for business, medical, moving and charitable purposes. For 2018, there are significant changes to some of these…
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Small business owners: A SEP may give you one last 2017 tax and retirement saving opportunity

Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. A SEP has high contribution limits and is simple to set up. Best of all, there’s…
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The Tax Cuts and Jobs Act—Expanding the Cash Method of Accounting

PART 6 The Tax Cuts and Jobs Act (TCJA) allows more businesses to use simpler accounting methods, but the new laws still are complicated. So let’s take a closer look at how the changes might alter the way you do business.  For many years the use of the cash method of accounting has been limited…
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The Tax Cuts and Jobs Act—Business Deductions

PART 5 Under the Tax Cuts and Jobs Act (TCJA), business deductions have changed quite a bit. These significant changes, positive or not, will require research and action on the taxpayer’s part. Every business (or the business’s advisor) needs to sort through the various changes and fully understand the potential outcome. Section 179 Expensing Expanded…
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