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Is your business subject to the new BOI reporting rules?
Many businesses, including small ones, may be subject to new beneficial ownership information reporting rules under the Corporate Transparency Act. Here’s what you need to know.
What are the tax implications of winning money or valuable prizes?
There are tax implications if you hit a sizable jackpot in the lottery or while gambling. Here are the basic rules.
Valuations can help business owners plan for the future
Most business owners know that a valuation will be necessary if they decide to sell their companies. But there are other reasons to consider engaging a qualified appraiser.
Contributing to your employer’s 401(k) plan: How it works
Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
Divorcing business owners should pay attention to the tax consequences
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
Are scholarships tax-free or taxable?
If your child is fortunate enough to get a scholarship, is the amount taxable income? For some, yes, but there’s good news for most families.
What types of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other...
Evaluate whether a Health Savings Account is beneficial to you
With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical...
Look carefully at three critical factors of succession planning
The day-to-day demands of running a business can make it difficult to think about the future. And by “future,” we’re not necessarily talking about how your tax liability will look at year-end or how you might grow the bottom line over the next five years. We’re...
Pocket a tax break for making energy-efficient home improvements
An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the...
Washington, NC 27889
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Monday-Thursday
8:00 AM - 5:00 PM
Friday
8:00 AM - 12:00 PM
Saturday-Sunday
Closed
