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29 06, 2022

IRS Announces Standard Mileage Rate Increase Beginning July 1, 2022

By |2022-06-29T20:44:21-04:00June 29th, 2022|Articles, Business Taxation, Individual Taxation, State and Local Tax, Uncategorized|0 Comments

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.

29 06, 2022

Qualified Plug-In Electric Motor Vehicle Credit

By |2022-06-29T18:35:40-04:00June 29th, 2022|Articles, Business Taxation, Individual Taxation, State and Local Tax, Uncategorized|0 Comments

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.

9 06, 2022

Update on North Carolina Pass-Through Entity Tax and 2022 Estimated Tax Payments

By |2022-06-10T08:50:45-04:00June 9th, 2022|Articles, Business Taxation, State and Local Tax|0 Comments

For tax years beginning after 2021, partnerships and S Corporations can make a Pass-Through Entity Tax (Taxed PTE) Election to pay North Carolina income tax at the entity level creating a deduction against pass-through federal income. Click above to find out more.

3 12, 2021

The Current Operations Appropriations Act of 2021

By |2022-06-09T19:34:48-04:00December 3rd, 2021|Articles, Business Taxation, Individual Taxation, State and Local Tax|0 Comments

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

3 12, 2021

The Infrastructure Investment and Jobs Act

By |2022-06-10T11:41:42-04:00December 3rd, 2021|Articles, Business Taxation, Individual Taxation|0 Comments

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.

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