Click here for important information about North Carolina’s annual report filing requirements and upcoming changes to GBM’s services related to these filings. Effective immediately, North Carolina annual reports will no longer be included in GBM’s tax preparation services.
While provisions in the One Big Beautiful Bill apply at the federal level, North Carolina has not conformed to the new law, creating notable divergences between federal and state tax treatment. Read the full article to learn more.
Internal Revenue Code §41 provides for the credit for increasing research activities. For taxpayers claiming the credit, more comprehensive reporting requirements will take effect for the 2024 tax year. Learn more.
Since the passing of the Inflation Reduction Act (IRA) of 2022, rules and limitations surrounding the Clean Vehicle Credit have become more complex. Read more about the updates.
Loans are an integral part of most businesses. However, when loans are received from shareholders of the business, additional considerations must be made. Failing to do so can result in reclassifications that can prove costly when filing annual tax returns. Learn more.
Are you confident you are doing everything you can to minimize your income taxes? If not, it may be time for a fresh look. Click above to check out the 2022 Tax Planning Guide.
If you own a second home that you are considering renting, you should understand the tax impacts. Click here to learn more.
What started out as a hobby may be a business! Read this article for information to help determine if your hobby is really a business.
Research and experimentation, also known as R&E, is an essential component of operations for businesses across a variety of sectors. Significant developments to the tax treatment of R&E costs will take effect for the 2022 tax year. Read this article to find out more.
Click above for some tips on preparing a complete and accurate business personal property tax listing for the county in North Carolina in which the property is located.
