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 2021 Tax Planning Guide.
Changes to the accounting standards, ASC 840 to ASC 842, will be changing the way leases are presented on the financial statements. Read more by clicking above.
Taxpayers should review their income tax withholding amount periodically, or when there is a major life event that could significantly impact their tax return. Click above to learn more.
There are guidelines that you should follow to help you decide which tax documents can go and which should stay in your files. Click on the article above to read more about the guidelines.
Volunteers are an integral part of many nonprofit organizations. Volunteers are typically one of the biggest sources of support, and this comes with both rewards and risks to the nonprofit organization. Click above to learn more.
As a nonprofit, donations are vitally important, both from a revenue standpoint and for nurturing donor relationships. But should you accept ALL donations extended to your nonprofit? Read more by clicking above.
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.
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.
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.
On November 18, 2021, North Carolina State Governor, Roy Cooper, signed the Current Operations Appropriations Act of 2021 (the Act). Click to learn more.