Proposed Regs Provided for Code Sec. 163(j) Limit
The IRS has proposed regulations on the limitation on the business
interest expense deduction under Code Sec. 163(j), as amended by
the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The IRS also has
Deductions Denied to Medical Marijuana Dispensary
A nonprofit corporation that operated a medical-marijuana
dispensary legally under California law was not allowed to claim
deductions for business expenses on its federal return. Code Sec.
2019 Standard Mileage Rates Released
The IRS released the optional standard mileage rates for 2019. Most
taxpayers may use these rates to compute deductible costs of
operating vehicles for:...
Proposed Regs Address Foreign Tax Credit Changes
Highly anticipated foreign tax credit regulations have been issued
that provide guidance on the significant changes made to the
foreign tax credit rules by the Tax Cuts and Jobs Act ( P.L.
Guidance on 2019 Withholding Rules
The IRS has provided interim guidance for the 2019 calendar year on
income tax withholding from wages and withholding from retirement
and annuity distributions. In general, certain 2018 withholding
Darrah & Company, P.C. was established in early 1996 to serve clients in many industries and services located throughout the Midwest. Our approach is to provide professional services to our clients and build long-term, mutually successful relationships.
We are a member of the American Institute of Certified Public Accountants (AICPA) and the Missouri Society of Certified Public Accountants (MOCPA), and are regulated by the Missouri State Board of Accountancy. Accordingly, the Firm must complete an AICPA peer review every three years.
We are pleased to annouce that our President, Ron T. Darrah CPA CGMA, was recently appointed by the Governor of Missouri to serve on the Missouri State Board of Accountancy. The mission of the Missouri State Board of Accountancy is to protect the interests of all the citizens of the state of Missouri by examining, certifying, licensing and regulating certified public accountants and public accountants, and firms of certified public accountants and public accountants in the state of Missouri.
Please contact us with any questions or comments you may have - we'd love to hear from you. We view ourselves as being proactive and responsive to our clients' inquiries and suggestions.