Featured 
Home Office Deductions in the COVID-19 Era

Have you been working from home during the COVID-19 crisis? Join the club. Approximately 42% of the American workforce is currently working from home full-time, according to a recent study by the Standford Institute of Economic Policy Research. Only 26% are working on business premises-and many of those are essential workers, such as public servants

Get Our Latest Insights on the Topics that matter most to you

Personal Finance 
Helping Your Kids Achieve Future Financial Security

Young adults who start their careers weighed down by college debt have a tough time buying a home or initiating a retirement savings plan. That’s why, in 1996, Congress added Section 529 to the Internal Revenue Code, creating a new tax-advantaged college saving vehicle. More than two decades later, “529 plans” now collectively hold around

Personal Finance 
Home Office Deductions in the COVID-19 Era

Have you been working from home during the COVID-19 crisis? Join the club. Approximately 42% of the American workforce is currently working from home full-time, according to a recent study by the Standford Institute of Economic Policy Research. Only 26% are working on business premises-and many of those are essential workers, such as public servants

Tax 
Small Businesses: Are 1st Year Depreciation Write-offs Right for You?

Under today’s federal income tax rules, your business may be able to claim big first-year depreciation write-offs for eligible assets that are placed in service in the current tax year. But that strategy might not be right for every small business every year. Here’s what you should know before claiming 100% first-year bonus depreciation or

Culture 
Hancock Dana Rounds Out Summer Volleyball Season

Smiles all around for our summer sand volleyball team as we concluded our season last month! It was fun to get out and compete, but we might just stick to accounting services for now.

Tax 
Avoiding the 10% Penalty on Early IRA Withdrawals

For one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and for any reason, but it’s important to keep in mind that most IRA withdrawals are at least partially taxable. In other words, you’ll owe regular

Tax Planning 
You May Want to Separate Real Estate Assets from your Business

Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property ownership. But there are valid and potentially beneficial tax reasons for holding real estate in a separate entity as

CAS 
What is a vCFO?

We get the question, “what is a virtual CFO (vCFO)?” Simply put, a vCFO is a financial coach for small to medium-sized businesses (defined as high growth start-up to around $20 million in gross revenues) owner that is not large enough to afford/require a full-time CFO (the average full-time CFO costs upwards of $140k with

Culture 
Welcome to the firm!

Hancock Dana is happy to officially announce our most recent hires! Joining our firm is Brian Gough, Brian Denio, Mike Green, and Toni Dethloff. Brian Gough and Mike Green will serve as Tax Manager’s focusing on serving and adding value to our clients. As an Audit Manager, Brian Denio will provide all types of assurance

Succession Planning 
Succession Planning: Splitting Up the Pie

Often, the senior generation of a family business goes through the process of choosing one of its offspring as the successor to lead the company in the future. Usually, the chosen successor is given the title of president or CEO. For a period of time, he or she will work under the supervision of the