North Carolina Economic Report – 2024 First Quarter

by | Jul 3, 2024 | Business Consulting, Business Valuation, Cost Segregation, Economic Reports, Hospitality & Restaurants, Manufacturing & Distribution, Mergers & Acquisitions, NonProfit, Professional Services, Real Estate & Construction

Highlights: DMJPS is pleased to provide a statewide quarterly economic report with highlights of North Carolina’s fifteen metros for the first quarter of 2024. The state’s indicators point to overall steady but moderate growth, with churn among industry employment...

QuickBooks Desktop Transition

by | Jul 1, 2024 | Announcements, Business Consulting, Healthcare, Hospitality & Restaurants, Manufacturing & Distribution, NonProfit, Professional Services, Real Estate & Construction, Strategic Financial & Outsourced Accounting

We want to inform you of an important update about QuickBooks Desktop software. Intuit, the parent company, has announced a stop sell on all QuickBooks Desktop products, including Pro, Premier, Mac, and Enhanced Payroll. This notice does not affect QuickBooks...

Repeal of NC Privilege License Requirement for Many Occupations

by | Jul 1, 2024 | Business Consulting, Healthcare, Hospitality & Restaurants, Professional Services, Real Estate & Construction, Strategic Financial & Outsourced Accounting, Tax Watch

Important Information for Professionals and Businesses: Effective July 1, 2024 the North Carolina Department of Revenue (NCDOR) has repealed the requirement for certain professions and businesses to obtain a yearly privilege license. N.C. Gen. Stat. § 105-41 is...

What is “Beneficial Ownership Information” Reporting and Why It’s Important?

by | May 9, 2024 | Audit and Accounting, Business Consulting, Business Valuation, Manufacturing & Distribution, Professional Services, Real Estate & Construction, Tax Watch

Beneficial Ownership Information (“BOI”) reporting is a new federal law requirement estimated to impact more than 30 million businesses beginning January 1, 2024. In general, any entity, domestic or foreign, created by filing a document with a secretary of state (or...

Tax Reporting: 1099 Forms and Their Significance in Recording Financial Transactions

by | Jan 24, 2024 | Business Consulting, Manufacturing & Distribution, Strategic Financial & Outsourced Accounting, Tax Consulting, Tax Watch

There are several types of 1099 forms, such as 1099-NEC (Nonemployee Compensation payments to independent contractors) and 1099-Misc (Miscellaneous Income payments), used for reporting transactions that occurred during the previous tax year. These informational...