by Diana Gwaltney | May 23, 2023 | Tax, Tax Watch
Every year, the IRS compiles a list of 12 tax scams that could target or affect taxpayers, known as the “Dirty Dozen” list. It advises tax professionals and taxpayers, both individuals and businesses, to keep an eye out for these types of scams. While the IRS...
by Samantha Suozzi | May 23, 2023 | Tax, Tax Consulting, Tax Watch
Health savings accounts (HSAs) are an often overlooked tax planning tool that can not only save you taxes now but can also be used for wealth-building and retirement planning. If you are eligible to contribute to an HSA there are many benefits, some of which are often...
by David A. Mize, CPA | Mar 14, 2023 | Business Consulting, Manufacturing & Distribution, Tax, Tax Consulting, Tax Watch
Filing deadlines for the 2022 tax year are fast approaching. Several changes have occurred in the Internal Revenue Code (IRC) and IRS procedures that could affect many partnerships and other businesses. The following provides an overview of some of these changes, as...
by David A. Mize, CPA | Mar 14, 2023 | Business Consulting, Hospitality & Restaurants, Manufacturing & Distribution, Mergers & Acquisitions, Real Estate & Construction, Tax, Tax Consulting, Tax Watch, Transportation & Trucking
In many cases, businesses simply pay state and local income taxes without giving them much thought. These taxes are often far less than federal tax obligations, so they are not as intimidating. However, state and local taxes actually make up a significant portion of a...
by Kerrie Brown | Mar 2, 2023 | Tax, Tax Consulting, Tax Watch
You may generally request an additional 6 month extension to file your personal or business tax return. Filing this extension allows more time to gather all the required information to accurately file the tax return. There is not a penalty for filing an extension but...
by Caren Rodriguez | Jan 10, 2023 | Tax, Tax Consulting, Tax Watch
As a new year begins, we want to remind those doing business in North Carolina of a commonly overlooked withholding requirement. General Requirements: Businesses are required to withhold North Carolina state income tax at a rate of 4% on payments to any of the...
