Happy New Year ! For those of you who use this, the new 2025 mileage rate has been announced. As a reminder, the 2024 rate was 67 cents...

I have previously written about some extended tax due date relief granted to victims of Hurricane Helene (and any federally declared...

Hello client and friends, Just a quick note that IRS rates and standard deductions have been released for 2025. Nothing too different or...

I get asked this question quite a bit and my quick answer is "generally 7 years". Here is a bit of a deeper dive, and a recent court...

I hope everyone is doing OK during this difficult time in western NC. Please drop me a line and let me know how you are. I'm just...

Hello clients and friends ! When I review the latest tax news, I try to find and write about items I believe some of my clients may find...

You may recall, that about 7 years ago, the President at the time (Trump), implemented the "Tax Cuts and Jobs Act", which was a pretty...

Hello, how are you all doing ? Summer is flying on by (I think so anyway). Hopefully you are aware that if you withdraw funds from your...

Hi clients and friends, how is your spring shaping up? I am enjoying a more "normal" life again, after 3 1/2 months of dealing with a...

The US Department of Labor (DOL) recently published an "official" rule document regarding the notion of "economic reality" for...

Tax season is pretty much upon us ! What better time to bring up one of the "gray-est" and most difficult and contentious topics for...

Hi everyone ! I hope you are enjoying the holiday season so far. Before you know it, it will be 2024 ! Speaking of 2024, are you aware...

IRS Revenue Procedure 2023-33 provides guidance for the ability of a taxpayer to transfer a "clean vehicle" tax credit to an "eligible...

Hi everyone...fall is certainly here with its drastically cooler weather (perfect hiking weather!). I hope all is well with you and your...

Are you aware of why it is important to consider whether your activity is deemed a hobby or business in the eyes of the IRS? If you are...

Hi everyone, I have decided to do a piece on the Employee Retention Credit (ERC) since advertisers of companies that are offering to help...

Hi clients and friends, I'm catching up on the last month's tax news before immersing myself too deeply into tax season. I came across...

Continuing the increase trend due to inflation, the mileage allowance has increased to 65.5 cents per mile beginning 1/1/2023. Medical...

Hi North Carolinans (or is it North Carolinians?) ! Did you know that the NC income tax rate is going from 4.99% in 2022 (which was...

Hi everyone, it's already December, so I hope you're already into or getting into the spirit of the Holidays ! I know that I am, and...