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by john.broadfoot@tjtpa.com | Feb 22, 2016 | Blog
TJT partner Kristen Hoyle was recently nominated to serve a three year term on the Board of Directors for the North Carolina Association of CPAs. Jared Plummer, a member of TJT’s audit team, is just finishing up his three year term on the Board. We recognize...
by john.broadfoot@tjtpa.com | Feb 20, 2016 | Blog
Among the itemized deductions on Schedule A of Form 1040, you’ll find “Interest You Paid.” As you get your records together for tax preparation, you should realize that not all interest can be deducted on your return. Interest you paid last year on credit card debt...
by john.broadfoot@tjtpa.com | Feb 1, 2016 | Blog
During the tax preparation season, business owners, individual taxpayers, and CPAs may have questions for the IRS. If you need to call the agency, be prepared for a long wait. Increased tax code complexity plus budget cuts have resulted in frustrating experiences for...
by john.broadfoot@tjtpa.com | Dec 8, 2015 | Blog
The end of the year typically is a time for making charitable donations. If that’s your practice, consider contributing shares of appreciated stocks or stock funds instead of cash. As long as the shares have been held longer than one year, you’ll get a full tax...
by john.broadfoot@tjtpa.com | Dec 4, 2015 | Blog
The North Carolina legislature recently made changes to the withholding law which are designed to increase tax compliance and help the North Carolina department of revenue combat tax refund fraud. The changes affect the manner in which Form NC-3 and the Department’s...
by john.broadfoot@tjtpa.com | Dec 1, 2015 | Blog
On November 24, 2015, the IRS increased the de minimis safe harbor threshold from $500 to $2,500 effective January 1, 2016. The safe harbor rules allow taxpayers to deduct from current year taxable income amounts spent to acquire, produce or improve tangible...
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