CARES Act: Key Tax Provisions for Businesses & Individuals
With COVID-19 forcing business closures and massive unemployment, the U.S. government sought to mitigate the negative financial effects as much as possible by passing a stimulus package for individuals, small businesses, and corporations. The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed the House of Representatives and the Senate, and was signed into law […]
NC Department of Revenue & IRS Tax Updates due to Coronavirus
The effects of COVID-19 (coronavirus) are widespread. Even those who are healthy are missing work, missing school, and having their lives rearranged. In order to provide relief during this time, especially for those who are unable to work, both state and federal departments of revenue are changing some of their policies, and we wanted to […]
Understanding Tax Preparation Fees
With tax time just around the corner, you’re probably about to start getting your paperwork in order, tracking down receipts, and doing everything you can to minimize any tax payout you may be facing. If you want assistance with your business or personal taxes for 2019 but you are worried about tax preparation fees, you […]
Estate Planning For Digital Assets
Digital technology has seen great advances in recent years which has drastically changed estate planning for many people. It is important for individuals to think about digital assets when considering planning for the future. Most people only consider physical assets when they are planning their estate for the future, but now it is important to […]
What Is The Difference Between Bookkeeping And Accounting?
Bookkeeping and accounting are often considered the same thing, but learn how bookkeeping and accounting services are different.
Is QuickBooks Accounting Software Best for My Business?
Learn how setting up Quickbooks can help solve your small business accounting challenges. Need help setting up your dashboard and recordkeeping? Our team can help!
Beware of This New IRS Email Impersonation Scam!
Unfortunately, millions of people around the globe fall victim to a variety of different phishing scams and online scams. And the most recent scam involves receiving an email from what seems to be the Internal Revenue Service. The IRS has begun to warn taxpayers throughout the United States to be on the lookout for emails […]
What Are The Limitations Of An Accounting Audit?
Audits have become a common theme across a wide variety of different business sectors as they allow an independent entity to analyze a company’s accounting and financial records to make sure everything is in order. This allows businesses to improve their financial strategies as well as to make sure they are conforming to the Generally […]
IRS Contact Virtual Currency Owners in Effort to Collect Back Taxes
The Internal Revenue Service has started sending letters to taxpayers with virtual currency transactions that may have failed to report income and pay the ensuing tax from these transactions or did not report these transactions properly. Why Are The IRS Contacting Virtual Currency Owners? The reasoning behind the IRS sending these letters is part of […]
Using The IRS Withholding Calculator to Determine Amount Withheld
Following the biggest set of tax law changes in over 30 years, the IRS continues to remind taxpayers to do a Paycheck Checkup to help make sure they are having the right amount of tax withheld. What Changes Were Made? The Tax Cuts and Jobs Act (TCJA), tax reform legislation enacted in December 2017, changed […]