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for Professionals and Businesses: Effective July 1, 2024 the North Carolina Department of Revenue (NCDOR) has repealed the requirement for certain professions and businesses to obtain a yearly privilege license.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...
by Jeremy Tomlinson | Jun 18, 2024 | Tax Watch
The Tax Cuts and Jobs Act (TCJA) of 2017 made sweeping changes to the Internal Revenue Code (IRC). It lowered tax rates for individuals, businesses and families. Some provisions of the statute are intended to discourage businesses from moving assets overseas. Many of...
by Joseph Nash | May 28, 2024 | Tax Watch
The TN Department of Revenue has recently issued guidance on new legislation that eliminates the property measure from the franchise tax calculation and allows the department to issue refunds to eligible taxpayers. Prior to this change, franchise tax was calculated on...
by Milton Howell, CPA | 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...
