5 Tips for Retirement and Good Living
Most of us dream of retirement – a time of your life when your hard work pays off and you can leave the rat race behind for a time of peaceful leisure. In order to have that dream retirement, you have to be prepared financially so you’re not thrown into financial stress or having to […]
How to Maintain the Bookkeeping for Your Small Business
Running a small business means you’re taking on dozens of roles just to keep up with daily operations. Too often, things that aren’t immediately necessary get pushed to the side and forgotten, and this usually includes your bookkeeping. Then, when you need to track down financial information or you hit a slow period with your […]
Americans Receiving Unemployment Benefits May Owe the IRS
The COVID-19 pandemic has caused millions of people to be out of work and seek unemployment benefits to assist during this extremely difficult time. Jobless benefits have been critical in keeping people afloat. But, as tax preparers, we are concerned that many recipients of these benefits may not be aware that this money is considered […]
IRS Announces “Dirty Dozen” Tax Scams for 2020
It’s unfortunate but criminals use crises as the time to increase their attempts to scam the unsuspecting and vulnerable. Any national crisis, such as the COVID-19 pandemic, creates an atmosphere of fear, making people more susceptible to scams. Criminals use this time to get personal financial information and steal your money. The IRS has announced […]
COVID-19 Unemployment Insurance Information in North Carolina
As COVID-19 continues to spread through North Carolina, keeping people indoors and keeping your business closed or at reduced functionality, you may be having to lay people off or even close your doors. To help you navigate how unemployment insurance is affected by COVID-19 and what it means for your business, our CPAs in Raleigh […]
How Long Should You Keep Tax Returns and Business Records?
You know it’s important to hang on to your tax returns, receipts, and financial paperwork, but you also know there has to be a point when you can finally clean out your file cabinet. Is it safe to go ahead and throw out the tax returns from 2012 or should you keep them for a […]
IRS Proposes Regulations on Certain Medical Arrangements
The Internal Revenue Service (IRS) released proposed regulations regarding the treatment of direct primary care arrangements, health care sharing ministries, and specific government-sponsored health care programs. Here are some of the highlights outlined by our CPA’s in Raleigh. Under section 213 of the Internal Revenue Code individuals are allowed to take an itemized deduction for […]
Updated Economic Impact Payment Information
While the majority of Americans who received an Economic Impact Payment received it via direct deposit, there are around 4 million people who are still waiting and have questions. To help minimize confusion and clear up questions you may have, our accounting firm in Raleigh is working to bring you up to date information. Economic […]
What Is the Consistency Principle
Your financial statements are key to showing the state and solvency of your business. In the event that you want to take out a loan, go public with your company, or look for investors so you can expand, your financial statements and accounting needs to be reviewed. This gives lenders and investors a clear, accurate […]
COVID-19 Small Business Guidance & Loan Information
Since the CARES Act was passed back in March, there have been many questions regarding the SBA loans, the terms that apply, and the businesses that qualify. In these unprecedented times, there has been a lot of new information announced, and our accounting firm wants to share some important advice for small businesses. There have […]