Can You Deduct Tax Preparation Fees?

With April 15th rapidly approaching, you’re probably gathering receipts and records and debating how your taxes will get done. You could go the DIY route with tax preparation software or take the less stressful route and work with a CPA firm in Raleigh. No matter which option you choose, you may be able to deduct […]

Steward Ingram & Cooper Announce New Durham Location

We are excited to announce that, effective January 1st, we have expanded into Durham by joining forces with Minor Anglin & Associates, P.A. Conveniently located between Durham and Chapel Hill, the location’s objective is to provide high-quality service to our clients in the Durham area. We are proud to have Dan Minor, Kim Anglin and […]

Do I Have to Pay Taxes on Stocks?

You know that any income you earn, whether it’s from a job, rental property, or business venture, is taxed by the IRS, but what about stocks and bonds? While any profit you make from stocks is taxed, it’s somewhat different than earned income. To help you understand capital gains and dividends, our CPAs in Raleigh […]

4 Advantages to Creating a Trust

Trusts may seem like some vague financial dealing reserved for the extremely wealthy, but that’s actually not the case. Trusts can be a financially advantageous part of your estate planning to ensure your assets and property are divided how you see fit. To help provide clarity on this complex financial matter, our CPAs are sharing […]

Understanding Deductible Expenses After PPP Loan Forgiveness

If you received a forgiven loan as part of the Paycheck Protection Program (PPP), it’s important to understand how this may affect your 2020 taxes, particularly your deductions. The IRS recently released Revenue Ruling (Rev. Rul.) 2021-02 which obsoletes Notice 2020-32 and Revenue Ruling 2020-27, and our small business CPAs are outlining what this rule […]

Are Receipts Enough to Prove Tax Deductions?

When you are doing your taxes, you probably have a folder of receipts or a digital drive of scanned copies, a log for travel mileage, and other ways to prove your expenses. Most tax payers assume receipts and a log is enough to prove your expenses, but often, the issue is more complicated. To help […]

Tax Guide on Home Office Deduction

If you use part of your home for business, you may be able to deduct expenses for a home office. This year, due to the COVID-19 pandemic, many people are working from home, so this information is relevant for the 2020 tax year. The IRS has specific rules to qualify for home office  deduction and […]

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 […]