North Carolina Sales Tax Scheduled to Decrease
Effective July 1, 2011, the North Carolina portion of the state sales and use tax rates are scheduled to decrease from 5.75% to 4.75%. The total rate for Mecklenburg County (including county and...
View ArticleQuickbooks or Peachtree could be costing you money in an IRS audit
In a brilliant attempt to “reduce burden” for taxpayers, the IRS now has a new tactic for auditing small businesses. They now have Quickbooks and Peachtree software and are requesting electronic...
View ArticleClik here to view.
The Dog Ate My Tax Return
When you were a kid in school, you probably forgot your homework once or twice. And you probably came up with some sort of excuse to weasel out of trouble, right? ‘Fess up now — did the dog ever really...
View ArticleClik here to view.
More Money for Millionaires
Last year’s federal budget deficit topped $1.48 billion. With money so tight, you’d expect government to focus its efforts on those who really need the help. But that’s far from the case, according to...
View ArticleClik here to view.
Can’t Buy Me Love
Heiress Huguette Clark, who was born in 1906 and died last May at 104, was America’s last living link to the 1890s “Gilded Age.” Her father, William A. Clark, was Montana’s “Copper King” and, according...
View ArticleClik here to view.
The Super Bowl and Tax Planning
A decade or more ago, the Super Bowl had become a bit of a joke. Fans looked forward to watching the commercials, sure. But the actual game itself had become a dreary series of lopsided blowouts. Super...
View ArticleClik here to view.
Gimme Shelter
Sunday night’s Grammy Awards ceremony illuminated two sides of today’s music industry. On stage, British soul singer Adele cleaned up big time, winning Album of the Year, Record of the Year, and Song...
View ArticleClik here to view.
Il-eagle Assets?
Our estate tax system is quite different from our income tax system. The income tax, as its name implies, focuses on how much money individuals, trusts, and business entities make. The estate tax...
View ArticleClik here to view.
The IRS Is Attacking the Medical Marijuana Business
Generally a business can deduct normal business expenses such as rent, payroll, etc. However, the IRS is using an obscure section of the code passed during the Reagan Administration as part of the “War...
View ArticleClik here to view.
Mad at the IRS
Fans of AMC’s Mad Men rejoiced last week when Don Draper and his colleagues at Sterling Cooper Draper Pryce returned after a 17-month absence. The year is 1966, and change is in the air. Protestors...
View ArticleDoes an Apple a day keep the IRS away?
Back when you were a kid, your mom probably told you “an apple a day keeps the doctor away.” Well here’s something Mom didn’t know — apparently, an apple a day keeps the tax man away, too. At least,...
View Article
