Written Capitalization Policies Must Be In Place by January 1, 2014
The IRS issued the final repair regulations on September 13, 2013, that clarified a lot of capitalization rules for taxpayers. As the year-end is quickly approaching, there is one important rule to consider and have in place by January 1, 2014. In the new repair...Year-End Tax Planning for Donations
Charitable contributions historically have provided tax benefits, and that may be especially true in 2013. Those contributions reduce your taxable income, which may keep you from moving into a higher tax bracket. Moreover, 2013 has been a rewarding year for investors,...Summary of NC Tax Law Changes
The North Carolina Department of Revenue recently added a resource document that provides a brief summary of the tax law changes made by prior General Assemblies that take effect for tax year 2013, as well as changes made by the 2013 General Assembly, regardless of...Tax Planning Opportunities for Business Owners
Recent tax legislation contains several provisions that impose extra tax on high-income taxpayers, including those with income over $200,000. Often, such taxpayers are business owners. According to the National Federation of Independent Business, over 75% of all small...Year End Tax Planning for Retirement
For most workers, contributing to an employer sponsored retirement plan usually is a good idea. In 2013, since passage of ATRA, making full contributions to plans such as 401(k)s can be an especially valuable tactic for high-income workers who are close to retirement....Awards & Associations
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