Insights
Capital Expenditure Safe Harbor Threshold Increased from $500 to $2,500
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...
Social Security Benefits Seminar
Thomas, Judy and Tucker, in conjunction with Weston Banks Wealth Partners, will be hosting a free seminar on "Making the Most of Your Social Security Benefits" in the TJT offices on November 19th . The seminar will begin at 9:00 a.m. and coffee and breakfast pastries...
TJT Information Security Risk Assessment Team
With limited resources for IT and security, many small businesses are vulnerable to attack and unsure of where to begin protecting themselves. McAfee, Inc. estimates that computer crime costs the global economy up to $500 billion annually. Large criminal...
Cons and Pros of Roth IRAs
Annual contributions to IRAs, including Roth IRAs, are now capped at $5,500 ($6,500 if you’re 50 or older). Roth IRA contributions aren’t tax deductible, they’re available only to workers and their spouses, and they’re off limits to high income taxpayers....
Gathering Information for ACA Required Reporting Must Start Now
The Affordable Care Act dictates that some very specific reporting requirements be in place for tax year 2015. All companies should be aware of the requirements and start gathering information now because this information will be required as a part of your income...
Property Tax Break for North Carolina Homebuilders
The North Carolina legislature recently voted to lower the amount of property taxes homebuilders pay on homes in inventory waiting to be sold. Under the new law, the builder will only pay taxes based on the value of the land rather than paying property taxes based on...