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We encourage you to contact us and just ask if we can help. It seems that everyday we encounter people who are in the midst of a crisis. Oftentimes it is tax or financial related. What many people do not realize is that we have collected a wealth of free information and make it available to you in our Free Resource Center. For example, we provide you with 28 articles crammed full of helpful information
A number of changes went into effect this year as a result of the Protecting Americans from Tax Hikes (PATH) Act of 2015 and other recent legislation. One of the changes added tougher compliance rules for those claiming the Child Tax Credit.
Effective March 1, 2016, NC will begin to charge sales tax on labor. It is a complicated process to determine if sales tax applies to a specific transaction. First, it only applies to those businesses considered in “retail trade.” And, it only applies to services considered repair, maintenance, or installation services.
When you die, your estate goes through a process that manages, settles, and distributes your property according to the terms of your will. This process is governed by state law and is called probate. Probate proceedings fall under the jurisdiction of the probate court (also called the Surrogate’s, Orphans’, or Chancery court) of the state in which you are domiciled at the time of your death. This court oversees probate of your personal property and
“Houston, we have a problem.” Who could ever forget those famous words as one catastrophe after another unfolded for the astronauts in the movie, Apollo 13? After considering a recent client related situation, it hit me – America, we have a problem! OK, I know that’s the number one topic these days – the problems facing America. Bear with me for just a moment; here’s one that I bet you have not considered. It is
The rules governing inherited IRAs can be complicated. Here are the major issues. Transferring inherited IRA assets If you inherit an IRA from someone who isn’t your spouse, your options are fairly limited. You can’t roll the proceeds over to your own IRA, treat the IRA as your own, or make any additional contributions to the IRA. What you can do is transfer the assets to a different IRA provider, as long as the registration
Suppose you have an old house on your property, but you would really like to tear it down and build a new one. The demolition will cost $10,000 and you just really do not want to spend the money. A good friend offers you advice, or maybe the idea just pops into your head. I will allow the local fire department to burn it down – a training exercise. I will receive a tax deduction, help
For 2016, the individual tax filing deadline is not Friday April 15 as you might think. It is actually Monday, April 18. Why? As it turns out, April 15 is a legal holiday in Washington, DC – Emancipation Day. Therefore Federal individual returns and Form 4868 automatic extension requests are not due until Monday, April 18. Be careful! All states might not follow the Federal due date!
It goes without saying that financing takes time, which is not the most convenient factor when your business needs working capital- fast. Before putting a loan package together, straightening up your company’s financials, and researching your lender, there’s one major question to answer…WHAT KIND OF FINANCING DO YOU NEED? Every industry has different needs, so when it comes to commercial financing, different funding types work better – depending on the industry. Start by figuring out
You’re beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others. To insulate your property from such claims, you’ll have to evaluate each tool in terms of your own situation. You may decide that insurance