July 2026

Anthony Pokrentowski,

CPA

Tax Partner

Featured Article From Our Experts

New York State Decouples from IRC 174A: An Administrative Headache for Taxpayers

The One Big Beautiful Bill Act (OBBBA) restored the immediate deduction of domestic research and experimental expenditures under IRC §174A, providing significant federal tax relief for many businesses. However, New York State has decoupled from this provision, creating new compliance requirements and separate state tax calculations.  This article explains what the decoupling means for taxpayers, the additional filing requirements and the planning strategies businesses should consider to minimize compliance challenges and unexpected tax consequences. 

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Explore SEP and SIMPLE Retirement Plans for Your Small Business

Small business owners seeking a flexible, cost-effective retirement plan may benefit from a Simplified Employee Pension (SEP) plan. This article explains how SEP plans work, including setup and contribution limits. It also compares other retirement plans to help businesses choose one that aligns with their goals and supports their employees.

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Renting Out Your Vacation Home? Know the Tax Implications

Renting out a vacation home can generate additional income, but it also brings important tax considerations. The article explains how rental and personal use days affect income reporting, allowable deductions and loss limitations. It highlights key rules, including the 14-day threshold and expense allocation requirements, to help homeowners better understand how to manage the tax implications of short-term property rentals.

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Revisit Your Emergency Fund Goals

Rising expenses, changing priorities and unexpected life events can quickly make yesterday's emergency fund inadequate. This article explains how to evaluate your savings and determine whether your emergency reserves are still sufficient to support your financial goals. 

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Backup Withholding: What Businesses Should Know

Hiring independent contractors comes with important tax reporting responsibilities. This article explains when backup withholding is required, the reporting rules businesses need to follow and the steps employers can take to avoid costly IRS penalties. 

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About Dannible & McKee, LLP

Dannible & McKee, LLP is a leading CPA firm that has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. Known for our technical expertise and deep industry experience, we are committed to delivering high-quality service tailored to our clients' needs. Our firm is guided by core values that prioritize our clients' best interests, ensuring they receive the strategic insights and support needed to navigate financial complexities with confidence. In a profession built on precision and trust, our greatest reward comes from the simplicity of helping good people prosper. By providing clarity in every financial decision, we contribute to their long-term success. That's the key to Delivering Confidence!

Learn more about Dannible & McKee at: www.dmcpas.com.