John F. Dennehy Jr., CPA, PC

All posts by John F. Dennehy Jr., CPA, PC

7 Essential Items to Include on the Year End Accounting Checklist

Having a year end accounting checklist and closing procedures is critical to the long term success of your business. It’s important to start the new year with a fresh, clean slate that is correct and organized, so you’ll be poised for success. Whether you have an accountant on staff or use the expertise of an […]

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Watch Out! Don’t Get Burned by the Hottest Tax Topics for 2017

It’s extremely hard to fathom tax season is almost here, and the hottest tax topics for 2017 are now in the conversation. Whether you operate a small business or you’re an individual, it’s always important to take advantage of the tax benefits available to you. It’s even more important for you to accurately pay Uncle […]

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4 Healthy Accounting Tips for Your Medical Practice

Your primary focus as a physician is patient care, but it makes dollars and sense to pay special attention to accounting for medical practices. In addition to being a physician, you’re also an entrepreneur tasked with running a profitable medical practice.This requires keeping accurate financial records and maintaining tax compliance. for a few […]

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Simple 5-Step Partnership Tax Return Checklist Used by the Pros

Although no one likes taxes, a partnership tax return checklist can help simplify and expedite your tax returns. The IRS defines a partnership as a “relationship existing between two or more persons who join to carry on a trade or business.”People often join partnerships, instead of venture out alone because it allows for greater resources, […]

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5 Basic but Essential Property Management Accounting Best Practices

Property management accounting can be painful — but it doesn’t have to be. Most new landlords are surprised to learn managing rental properties goes far beyond finding new renters and repairing leaky taps.These business owners must employ sound property management accounting practices to ensure the business runs smoothly and profitably. Failure to pay attention to […]

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Alternative Tax Planning Strategies for Small Businesses Used by the Pros

While some tax planning strategies for small businesses may be aimed at the small business itself, others can be aimed at the owner’s individual tax situation. Regardless of how complex or simple the strategy is, tax planning for small businesses should revolve around: Minimizing the amount of taxable income Managing when the taxes must be […]

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Tax Planning Tips to Make Taxes Easier Next Year

Use These Simple Tax Planning Tips to Make Taxes Easier Next Year

Although everyone’s tax situation is different, most people are interested in how to make taxes easier next year. With a few powerful tips, you can be more efficient and less frustrated when it comes to filing your taxes.Whether you’re an individual tax filer, a contractor, or small business owner, use the following simple tax tips […]

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How to Request a Customized Partnership Tax Return Checklist

Ensure you have everything you need for a smooth, on time tax return with a customized partnership tax return checklist from John F. Dennehy Jr. CPA, PC. Regardless of your state or line of business, every partnership is required to report expenses and revenue with the Internal Revenue Service Form 1065. This form must be […]

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Simple Guide to Section 179 Tax Deduction for Small Businesses

While most people think they need the Rosetta Stone to decipher the Section 179 tax deduction, it’s actually not complicated. Basically, this tax deduction for businesses allows owners to deduct the full price of qualifying software and/or business equipment financed or purchased during the respectable tax year.In other words, if you lease or purchase a […]

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7 Easy Attainable Financial Resolutions for the New Year

If you failed to previously achieve your financial resolutions for the New Year, you’re not alone. According to the Journal of Clinical Psychology by the University of Scranton, a mere 8% of people actually achieve their resolutions for the New Year.However, this doesn’t mean you can’t refocus, rehone, and reinvigorate your financial resolutions for the […]

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