Individual Taxation

IRS Announces Standard Mileage Rate Increase Beginning July 1, 2022

Due to the recent surge in gasoline prices, the Internal Revenue Service (IRS) has revised the optional standard mileage rate, increasing it by 4 cents for the remainder of 2022. Click above to learn more.

Qualified Plug-In Electric Motor Vehicle Credit

Investing in an electric vehicle can be an effective way to reduce the environmental impact of gasoline emissions and cope with rising gas prices. IRC §30D provides a credit for qualified plug-in electric motor vehicles. Click above to learn more.

The Current Operations Appropriations Act of 2021

On November 18, 2021, North Carolina State Governor, Roy Cooper, signed the Current Operations Appropriations Act of 2021 (the Act). Click to learn more.

The Infrastructure Investment and Jobs Act

On November 15, 2021, President Joe Biden signed the Infrastructure Investment and Jobs Act (the Act), a $1.2 trillion bipartisan legislation intended to “build back better” the country’s infrastructure. Click to read more.

By |2022-10-05T15:41:33-04:00December 3rd, 2021|Articles, Business Taxation, Individual Taxation|0 Comments

Paid Sick and Family Leave Tax Credits Modified and Extended

As part of the COVID-Related Tax Relief Act of 2020 (the Act) signed into law on December 27, 2020, the tax credits for paid sick and family leave have been modified and extended. Click here to learn more.

By |2022-10-31T23:36:45-04:00February 22nd, 2021|Articles, Business Taxation, Individual Taxation|0 Comments

North Carolina Updates References to Internal Revenue Code and Decouples from Certain Provisions

The SBA has continued to provide updated guidance based on new legislation and to address many of the questions and concerns Borrowers have as they move closer to applying for loan forgiveness. Click to learn more.

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