Unique Perspectives - The DGC Podcast
Deducting Meals & Entertainment Expenses with Scott Thomas

Deducting Meals & Entertainment Expenses with Scott Thomas

July 27, 2021

Meals and entertainment expense deductions are an effective way for businesses to lower their tax liability. If you are not gathering and organizing this information correctly, you could be leaving thousands of dollars on the table. In this DGC Podcast, Scott Thomas, JD, LLM discusses the recent rule changes surrounding meals and entertainment deductions, and how businesses can be sure that they are claiming these deductions properly.

To watch a video version of this podcast, click here.

Some of the specific items Scott covers are:

  • Airfare for business purposes
  • Lodging for business purposes
  • How does the IRS define the term “restaurant” and why is that so important?
  • Employee meals/snacks treated as de minimis fringe benefits
  • Employee meals with prospects or clients including entertainment
  • Holiday parties
  • Charitable events

If you have questions about meals and entertainment expense deductions, please reach out to a member of your DGC client service team or Scott Thomas, JD, LLM at 781-937-5172 / sthomas@dgccpa.com.

To learn more about DGC, visit www.dgccpa.com.

The Made in America Tax Plan with Scott Thomas

The Made in America Tax Plan with Scott Thomas

July 26, 2021

The Biden Administration has released a fact sheet outlining the basics of their proposed tax plan entitled, The Made in America Tax Plan. Scott Thomas, JD, LLM, a Senior Advisor at DGC, joined us in this DGC podcast to discuss the corporate tax proposals.

To watch a video version of this podcast, click here.

For more information, visit www.dgccpa.com

***This podcast was originally recorded on April 20th, 2021***

The SALT Cap Workaround Works in Some States with Scott Thomas

The SALT Cap Workaround Works in Some States with Scott Thomas

December 17, 2020

There’s no question the Tax Cuts and Jobs act of 2017 impacted taxpayers everywhere. In that legislation, the ability to deduct state and local tax payments was capped. But so far, seven states have developed SALT cap workarounds that can provide some taxpayers with significant savings. In this episode of Unique Perspectives – The DGC Podcast, our guest is Scott Thomas, a Senior Advisor at DGC. Scott will tell us where the SALT Cap workaround currently works, and who can benefit from it. As always, this podcast is brought to you by DGC. For all of your accounting, tax and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit www.dgccpa.com to learn more.

Changing Residency to Another State - Why You Might be Audited

Changing Residency to Another State - Why You Might be Audited

September 18, 2020

Are you a resident of this state? On the surface, this is a simple question to answer. However, for tax purposes, it’s a lot more complex. In an effort to increase revenue, states are using personal income tax residency audits to try and collect more taxes. These can be time-consuming and invasive audits to determine if an individual is a state resident and owes additional taxes. In this episode of “Unique Perspectives – The DGC Podcast,” our guest is Scott Thomas, a Senior Advisor at DGC. Scott takes you through the residency audit process and explains why a small detail might prevent significant tax liabilities. As always, this podcast is brought to you by DGC. For all of your accounting, tax, and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit our website: www.dgccpa.com

State Tax Filing – Companies with Remote Workers Beware with Scott Thomas

State Tax Filing – Companies with Remote Workers Beware with Scott Thomas

July 22, 2020

Before many of us turned to remote work due to the COVID-19 pandemic, several workers had already gravitated to telecommuting or remote work. Now that we are working from home more than ever before, companies may encounter new state tax filing responsibilities. How will a company know if and when to make adjustments for employees working remotely? In this episode of “Unique Perspectives – The DGC Podcast,” Senior Advisor Scott Thomas takes you through how a company should address state tax filing responsibilities for remote workers during the COVID-19 pandemic. As always, this podcast is brought to you by DGC. For all of your accounting, tax, and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit our website: www.dgccpa.com

Coming Clean: What Businesses Need to do if They Have Not Filed State Tax Returns Where They Should with Scott Thomas

Coming Clean: What Businesses Need to do if They Have Not Filed State Tax Returns Where They Should with Scott Thomas

July 16, 2020

One of the most significant tax developments still impacting corporations is South Dakota v. Wayfair. This monumental Supreme Court decision gave states more latitude to collect sales tax on out-of-state businesses. What if your business has not filed corporate tax returns in states where you should have? What do you have to do in order to come clean? On this episode of “Unique Perspectives – The DGC Podcast,” our guest is Scott Thomas, JD, LLM, a Senior Advisor at DGC. Scott discusses what corporations should do if they need to file returns in other states or what they should do if they are unsure where they stand. As always, this podcast is brought to you by DGC. For all of your accounting, tax, and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit our website: www.dgccpa.com

Business Continuity, Disaster Recovery and Incident Response Plans with Brian Banda

Business Continuity, Disaster Recovery and Incident Response Plans with Brian Banda

July 16, 2020

In the event of a cyberattack or a natural disaster, every second counts. Business owners and their employees have to be ready to react quickly and efficiently. Every organization should have disaster recovery and incident response plans so they can minimize risk. However, the vast majority of businesses do not have these plans in place. In this episode of “Unique Perspectives – The DGC Podcast,” our guest is Brian Banda, CISSP, an Information Security Analyst at DGC. Brian discusses the importance of policy development for businesses. As always, this podcast is brought to you by DGC. For all of your accounting, tax, and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit our website: www.dgccpa.com

Cybersecurity Risk Assessments with Donny Butler

Cybersecurity Risk Assessments with Donny Butler

July 16, 2020

Every business owner is concerned about cybersecurity threats. But are you doing enough preventative maintenance to put your business in position to stop a breach from occurring in the first place? Performing a cybersecurity risk assessment allows business owners to know where they stand in terms of how protected their network is against cybersecurity risks and what they can do to improve. In this episode of "Unique Perspectives – The DGC Podcast," our guest is Donny Butler, a Principal in DGC’s Cyber and Information Security Services group. Donny discusses what a cybersecurity risk assessment entails and what cyber professionals are looking for during the process. As always, this podcast is brought to you by DGC. For all of your accounting, tax, and advisory services, you can turn to us. Where there’s unique perspective, there’s DGC. Visit our website: www.dgccpa.com

Entity Selection with Stephen Minson

Entity Selection with Stephen Minson

July 16, 2020

In our conversations with clients, entity selection is not only one of the most commonly discussed topics, it’s also one of the most important. The decision to make an entity change is not nearly as simple as you might think. In this episode, our guest is Stephen Minson, CPA, MST, a Partner at DGC. Stephen will explain the differences between the three entity types: C Corporation, S Corporation, and Partnership, and why researching all three options is essential. Be sure to visit our website: www.dgccpa.com

Casino Gambling with Keith Kenez

Casino Gambling with Keith Kenez

July 16, 2020

Casino gambling is now open for business in Massachusetts. With another casino opening in Bay State this summer, the tax rules surrounding gambling need to be revisited. Our guest is Keith Kenez, a Manager in DGC's Private Client Group. Keith discusses casino gambling. What do you do if you win? What do you do if you lose? And why were professional gamblers not-so-thrilled with tax reform? Be sure to visit our website: www.dgccpa.com

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