Tax Reform Take 2

The “listening session framework” for Congress’s “Tax Reform2.0,” a continuation of the TCJA, has been released by the House Committee onWays and Means. It includes further tax cuts for the middle class and smallbusinesses, aiming to make these cuts permanent. The framework also showsintentions of helping businesses provide new retirement plans to employees, andencouraging families to save money with Universal Savings Accounts, 529Education accounts, and New Baby provisions for retirement plans. It also aims formore write-offs and less barriers for new businesses to help them grow.  

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Recent Tax Changes by the State of New Jersey

In the beginning of this month, many tax changes were enacted in New Jersey, signed into legislation by Governor Phil Murphy. 

Individual Taxes

First, a tax rate increase: the highest tax rate has been increased to 10.75% on taxable income exceeding $5 million for the 2018 tax year. The withholding rate for salaries, remuneration, and other services exceeding $5 million is now 15.6% for the rest of 2018 (this rate must be implemented by September 1, 2018). 

Property tax deduction: maximum property tax deduction has increased to $15,000 for tax years after 2017.

Earned income tax credit: earned...

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Denial of Foreign Tax Credit with Respect to Covered Asset Acquisitions

On December 6, the Internal Revenue Service issued proposed (REG-129128-14, RIN:1545-BM36) and temporary (T.D. 9800, RIN:1545-BM75) regulations under Internal Revenue Code section 901(m). The guidance implements rules enacted in 2010 which limit the amount of foreign tax credit a company can claim after buying assets in a “covered asset acquisition.” A “covered asset acquisition” is any one of several enumerated transactions whereby the taxpayer acquires foreign assets with a higher basis for U.S. tax purposes than for foreign tax purposes. The Code section and the new regulations attempt to l...

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Pay the IRS late? At some companies, it's a strategic move

Leon Dutkiewicz, Managing Partner of D & H Global Tax Group, joins the Associated Press to talk about “how paying the IRS late can be a strategic choice for some”. Click the link below to read more.

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Executive Leaders Radio PA Broadcast with Leon Dutkiewicz

Executive Leaders Radio PA Broadcast on WHYY
Interview with Managing Partner, Leon Dutkiewicz: What It Takes To Succeed.

Often successful leaders attribute their drive and success to their early years. Hear Leon reflect on his childhood, family, including when and how his interest in accounting started in an insightful manner. Thanks to a newspaper route and a specific goal his entrepreneurial spark was ignited.

Developing effective leadership skills including how to communicate, figuring out how best to have difficult conversations and staying focused on the real objective of providing th...

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D&H Global Opens Philadelphia Office with Ribbon Cutting Ceremony for New Location to Support International Businesses

We would like to thank Jeanne Nevelos, Vice President - Business Expansion Services, Select Greater Philadelphia, Duane Bumb, Senior Deputy Commerce Director – Business Development, City of Philadelphia Department of Commerce, and our client Richard Bolte, Chairman & CEO, BDP International for joining us in celebrating the opening of our new Philadelphia office location.

Located at Two Penn Center, 1500 JFK Boulevard, Suite 501, D&H Global is moving into Philadelphia to provide international tax and accounting, and business consulting services to area businesses and individuals. To start, D&H ...

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US-UK tax firm picks Philly for HQ

D&H Global Tax Group, a firm headed by Philadelphia native Leon J. Dutkiewicz and his U.K.-based partner Stuart Horowitz, says it will locate its newly-expanded U.S. staff of 25 multinational-tax-accounting pros in offices at Two Penn Center.

"The world needs what we're doing. It's an underserved market," and Philadelphia is a central, affordable location to handle East Coast clients, Dutkiewicz told me. He hopes to double staff in the next couple of years.

D&H sells to clients inside looking out, and vice versa, he told me:

  • "There's between 8 and 10 million Americans outside the borders of th...

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D&H Global Opens Philadelphia Office

D&H Global Opens Philadelphia Office Photo 1

The new location aims to support international businesses in Philadelphia with approximately 25 local employees

PHILADELPHIA – D&H Global Tax Group (D&H Global) today celebrated the grand opening of its new office location in Philadelphia with a ribbon cutting ceremony. D&H Global staff and leadership were joined by representatives from Select Greater Philadelphia, the City of Philadelphia Commerce Department and local business leaders to mark the occasion. The new office will bring a total of 25 new jobs to Center City Philadelphia with the potential to reach 50 positions in the next three ...

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Newly formed CPA firm opens HQ in Phila., adds 25 jobs to Center City

Leon Dutkiewicz will be relocating his accounting firm into Center City, bringing with him 25 jobs and the potential to grow to 50 within five years.

An accounting firm with an international tax focus will be opening a Center City Philadelphia office, bringing 25 jobs and the potential to double that number within five years.

D&H Global Tax Group will occupy 3,500 square feet at 1500 JFK Blvd. with options for more if it reaches its growth goals. The firm also has offices in South Jersey, and London.

The firm’s two partners are accountant Leon J. Dutkiewicz and lawyer Stuart E. Horwich. The t...

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Tax Enforcement: IRS Facts Needed to Qualify for Streamlined Tax Disclosure

The IRS announced stricter qualifications for all taxpayers filing under the streamlined Offshore Voluntary Disclosure Program. Applications will be rejected if the taxpayer’s explanation for non-filing is unspecific and fails to sufficiently explain non-willful conduct.

More information

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