LLC Annual Report Notices

All North Carolina limited liability companies (LLCs) are required to file an annual report each year with the Department of the Secretary of State.  In December of 2012, the Secretary of State mailed out nearly 35,000 Notices of Administrative Dissolution to...

Need Help With Charitable Gifting?

Estate planning also includes areas such as charitable gifting methods and procedures or special gifting techniques. But all of these also involve having at least a minimum amount of knowledge in the fields of federal estate taxes and similar laws and regulations. We...

The Fiscal Cliff Legislation: What You Need to Know

The much anticipated tax legislation for 2013 has finally been passed.  On Tuesday, January 1, 2013, Congress passed the American Taxpayer Relief Act, H.R. 8 to avoid at least the tax side of the “Fiscal Cliff.”  One of the more significant aspects of this...

Expense Reimbursements

The obligation to submit expense reports of client dinners, special event attendance, traveling outside the town and so on is not entirely known to all employees. For this reason we have decided to take the time to present to you some of the basic elements of these...

Nondeductible Contributions to Traditional IRAs

Many people think IRAs come in two flavors. Traditional IRAs, as they’re known, often hold pretax dollars. They offer tax deferral, but you’ll owe income tax on withdrawals. Alternatively, Roth IRAs are funded with aftertax dollars. Earnings inside the account are...

Changes to your taxes and deductions for 2013

Keep in mind that the Social Security Payroll tax holiday expires at the end of 2012.  Starting in January of 2013, the employee’s share of payroll tax will go back to 6.2 percent from 4.2 percent. The IRS recently announced the standard mileage rates for 2013. ...