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 […]
Buying and Selling Stocks — Are Stocks Taxable?
If you are currently active in the stock market whether by your own endeavors or via a retirement plan such as a 401(k), our CPAs are fleshing out when stocks are recorded as taxable income so you can report them as such on your tax return.
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 […]
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 […]
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 […]
The IRS Launches Identity Theft Central
It’s no secret that identity theft is a huge issue and an ongoing problem. Nearly 445,000 Americans reported some form of identity theft in 2018. To help citizens better avoid and react to identity theft, the IRS launched Identity Theft Central in February 2020. This page is a hub of information about identity theft, including […]
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 […]
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 […]