Have you hired a house cleaner, nanny, babysitter, home health care aide, or other household worker? You may be on the hook for federal and state payroll taxes if you paid a household employee more than $2,600 in 2023 ($2,700 in 2024). Learn more.
Any individual or business owning or possessing personal property used or connected with a business (or other income generating purpose) must file a business personal property tax listing annually. Find out tips for preparing your property tax listing.
On April 3, 2023, the North Carolina General Assembly passed legislation that enacted changes to the legislation passed in November of 2021 to the pass-through entity tax (PTET) for qualifying partnerships and S-Corporations filing North Carolina income tax returns. Learn more.
On September 22, 2023, the 2023 Appropriations Act passed the NC General Assembly and became law on October 3, 2023. Taxpayers should be aware of the changes and their effective dates. Learn more.
Non-profit organizations often rely on in-kind donations of various types to carry out their mission. Should these in-kind donations be recorded in your accounting records? Find out more.
There are many risk management strategies to safeguard sustainability of a nonprofit organization, one of which is succession planning. Succession planning is a duty of the board of directors and management of a nonprofit. Read more.
Making sure to keep up with pledges and grant receivables will allow management and the board of directors to clearly see the financial status of the Organization. Find out more by reading the full article.
Board Members are responsible for maintaining the integrity of an organization and finding the right board members is vital for the organization to effectively serve its purpose. Learn more.
Whether or not nonprofit organizations can refund a donor’s contribution, however, depends on the size of the gift, the state’s regulations, and the impact of returning the gift. Learn more.
In order to exclude the gain on the sale of your primary residence from your taxable income, you must pass two tests: ownership and use. Click for examples and to learn more about the requirements.