Many disruptions and changes will continue due to the COVID-19 crisis. To help answer questions regarding challenges associated with 401(k) safe harbor contributions, we prepared a question and answer resource.
Just days after issuing guidance deferring the payment of certain tax obligations but maintaining the April 15 tax filing deadline, the IRS has changed course and announced in Notice 2020-18 that it is indeed extending the April 15 tax filing deadline.
The COVID19 reports by all government authorities state that the key to slowing the spread of the virus is social distancing. We are implementing precautionary measures to promote the safety and health of our personnel.
Any individual or business owning or possessing personal property used or connected with a business (or other income producing purpose) must file a business personal property tax listing. Click here to learn how to file your business personal property tax listing.
Your business is generally required to issue Form 1099-MISC to all unincorporated service providers to whom it pays $600 or more during the calendar year. Unincorporated service providers include sole proprietors, partnerships, and LLCs not electing to be taxed as a C Corporation or S Corporation.
While not required, separating various scenarios for meals and entertainment is recommended. As a follow-up to our November article, Rules for Meals and Entertainment, here are some best practices for recording and deducting meals and entertainment expenses.
North Carolina requires nonprofit organizations that intend to directly solicit contributions within the state to hold a Charitable Solicitation License (CSL) before soliciting contributions.
There are important due dates that calendar year-end nonprofit organizations need to remember. Click for a complete list of due dates.
On November 8, 2019, North Carolina Governor Roy Cooper signed legislation adopting market-based sourcing for corporate income tax apportionment purposes and requiring marketplace facilitators to collect and remit sales and use tax.
Several changes to the rules for deducting meals and entertainment were made by the Tax Cuts and Jobs Act (TCJA). Prior to the TCJA, meals and entertainment were either 100% or 50% deductible, depending on the nature of the expense.
