A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash? 2 benefits from 1 gift Appreciated publicly traded… [Read More]
Checklist of Tax Planning Moves for Individuals The following is a checklist of actions based on current tax rules that may help save tax dollars if you act before year-end. Not all actions will apply in every taxpayer’s particular situation, but you will likely benefit from many of them. Call us at 919-841-1000 to discuss. Higher-income earners… [Read More]
We would like to thank all of our wonderful clients who made it out to our annual Client Appreciation Day last week to enjoy some delicious Clyde’s barbecue and ‘nana pudding with us! We enjoyed hosting and sharing a meal with you and we are truly grateful for your patronage.
As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this year. Be sure to evaluate the impact of the Tax Cuts and Jobs Act (TCJA), which reduces or eliminates many… [Read More]
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantially different tax consequences. … [Read More]
Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. Generally Accepted Accounting Principles (GAAP). Starting this tax year, the Tax Cuts and Jobs Act (TCJA) has increased the threshold for businesses that qualify for the simpler cash… [Read More]