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...

Hi everyone ! I've noticed an increase in scam and spam activity over the last 6 months to a year. I myself have had to be more vigilant...

Hi everyone, hope you had/are having a nice summer ! I haven't done an info. post in a while, and something I wanted to bring up and...

In case you haven't heard, as a way to help deal with gas prices, the mileage allowance will increase to 62.5 cents per mile on 7/1. ...

Hi clients and friends ! How is your spring kicking off? I've noticed a lot of new businesses forming and former employees becoming...

A typical business related "meals" situation that is entitled to a tax deduction, is when the owner brings in food for a staff meeting. ...

Hello clients and friends ! I hope your 2022 year is starting off nicely.... Continuing from my last post (NC Senate Bill 105 signed in...

Hello ! A bit of "good" news in the tax world. The new business mileage allowance for 2022 is going up to 58.5 cents per mile. Not...

Hi everyone ! I know it has been such a long time since I have posted some news. The last several months have been driving us North...

2020 was a difficult tax year, filled with new provisions designed to help folks affected by COVID-19. 2021 is going to be another...