Steward Ingram & Cooper, PLLC provides tax planning and preparation for businesses, individuals, estates, and nonprofits throughout Durham and neighboring Hillsborough. Since 2000, our CPAs have worked closely with healthcare practices and the technology and life sciences companies drawn to Research Triangle Park, alongside longtime Durham small businesses and growing local firms.
Our Tax Preparation and Planning Services
At Steward, Ingram & Cooper, PLLC, we offer tax planning and preparation for a wide range of Durham businesses, individuals, and nonprofits. Growing and established businesses make up the largest share of our client base, and the services below reflect that focus.
Business Taxes
We offer business tax planning and preparation to companies throughout Durham, from early-stage startups to established firms. Given Durham’s concentration of healthcare practices and Research Triangle Park technology and life sciences companies, our CPAs regularly handle the entity structures, R&D considerations, and multi-location issues that come with those industries, along with payroll, sales tax, and other business tax matters.
Personal Taxes
Our primary focus is on Durham-area taxpayers with more complex tax issues, including multi-state returns, foreign taxes, and the timing and tax consequences of company stock options or tax-deferred exchanges, common among professionals working at RTP employers.
Estates and Trusts
If you own property in Durham or elsewhere, whether real estate, stocks, bonds, or other investments, we can help you plan for future events, establishing trusts, wills, and other legal documents that protect your assets.
Nonprofit Filing
If you run a nonprofit in Durham, we can help you file your Form 990 on time and correctly to maintain your tax-exempt status.
Why Durham Businesses Trust Our CPAs
Steward Ingram & Cooper, PLLC has provided tax and accounting services to Durham and Research Triangle Park clients since 2000. Our team includes CPAs, a certified fraud examiner, and certified personal financial specialists, and we regularly work with the region’s restaurants, medical and dental practices, law firms, construction and engineering companies, and preschools and child care centers. We are also active in the wider community, supporting organizations like Habitat for Humanity and the Food Bank of Eastern and Central NC.
Tax Planning: Frequently Asked Questions
What is tax planning?
With tax planning you’ll need estimates about how much each expense will be so we can figure out which ones are worth claiming as deductions and when those might apply; plus there could be more than one choice depending what type(s) of filing status you will file under.
What types of tax planning services do you provide?
Our CPAs and tax preparers work to provide you with the most reliable, trusted tax planning services in Durham, NC. We work with businesses, individuals, non-profit organizations, and those needing estate planning services.
What can a tax preparer do for me?
At Steward Ingram & Cooper, PLLC, we are dedicated to providing tax preparation services that go beyond filing end-of-year tax returns. Our clients rely on us to provide year-round planning as well as assist with unresolved tax issues from previous years and creating solutions to make smart financial decisions moving forward. Our tax preparers are experienced in resolving tax issues, navigating audits, and in finding deductions and credits that benefit our clients.
Can I deduct tax preparation fees in NC?
In certain cases you can deduct tax preparation fees for your North Carolina business, but this deduction is not for everyone. For example, you cannot deduct tax fees on personal returns. However, if you are self-employed, this expense is considered an “ordinary necessity” and can therefore be deducted. Click to learn about more scenarios in which you can deduct tax preparation dues on your tax return.
What’s the difference between a tax deduction and a tax credit?
A tax deduction reduces your taxable income and thus, reduces how much of your income can be taxed. Mortgage interest and student loan interest are deductions that would reduce your taxable income.
A tax credit gives you a specific amount off of your tax bill. The child tax credit is $2,000 per child under the age of 17 who you claim as a dependent, thus, no matter how much your taxable income is, you will immediately pay $2,000 fewer dollars in taxes for each child under 17.
Are there penalties for late tax filing in North Carolina?
If you file your taxes late in North Carolina there will be a late fee. North Carolina charges a penalty of 5% per month, or partial month, up to a maximum of 25% of the total tax that is reported on that return. The state also charges a late payment penalty that is equal to 10% of the tax that is unpaid. The 10% penalty is going to drop from a flat 10% to a graduated penalty starting in 2023.
Can your tax planners help me with an IRS audit?
If you are unsure of how to handle an IRS audit, our tax preparers and CPAs can assist you with unresolved tax issues from previous or present times. If you need help with personal or business taxes, need to untangle an IRS problem from the past, or want to set up your future for financial security, we can help.