by Samantha Suozzi | Nov 5, 2024 | Business Consulting, Manufacturing & Distribution, Tax Watch
On October 25, 2024, the NC Department of Revenue issued Directive TA-24-1. Part II allows taxpayers in eligible counties to request relief from the assessment of interest on unpaid taxes due to Hurricane Helene. Also eligible are those taxpayers whose tax preparer,...
by Greg Miller | Oct 7, 2024 | Business Consulting, Hospitality & Restaurants, Manufacturing & Distribution, Professional Services, Real Estate & Construction, Resources, Tax Consulting, Tax Watch
In September 2024, Hurricane Helene brought unimaginable destruction to our neighbors, friends, and clients in western North Carolina, South Carolina, and eastern Tennessee. In the past month alone, our state experienced storm damage from Hurricane Debby in the east...
by Mickey Dale | Sep 10, 2024 | Real Estate & Construction, Tax Watch
In 1789, Benjamin Franklin stated in a letter to a friend, “… in this world nothing is certain except death and taxes.” Over 200 years later, both of these observations seem to still hold true. However, with some awareness of the rules and proper planning, taxes can...
by Milton Howell, CPA | Jul 10, 2024 | Mergers & Acquisitions, NonProfit, Tax, Tax Consulting, Tax Watch
In today’s world of higher standard deductions and fewer itemized deductions, the Qualified Charitable Distribution (“QCD”) is a powerful tool that should be considered. For eligible taxpayers who have charitable obligations to meet, this is a winning strategy with...
by Bill Jones | Jul 10, 2024 | Audit and Accounting, Tax Watch
Employers that sponsor employee benefit plans (EBPs) must ensure that they comply with federal laws enforced by the IRS and the U.S. Department of Labor (DOL). The government uses Form 5500 to collect information about EBPs and monitor employers’ legal and regulatory...
by Emily White | 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for Professionals and Businesses: Effective July 1, 2024 the North Carolina Department of Revenue (NCDOR) has repealed the requirement for certain professions and businesses to obtain a yearly privilege license.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...
