Many businesses, including small ones, may be subject to new beneficial ownership information reporting rules under the Corporate Transparency Act. Here’s what you need to know.
Small Business
Your Weekly Read
Valuations can help business owners plan for the future
Most business owners know that a valuation will be necessary if they decide to sell their companies. But there are other reasons to consider engaging a qualified appraiser.
Divorcing business owners should pay attention to the tax consequences
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
What types of expenses can’t be written off by your business?
As a business owner, expenses can be written off in order to save you money. What things can’t be written off?
Look carefully at three critical factors of succession planning
When making a succession plan, business owners will want to consider these three critical factors.
Update on depreciating business assets
Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim has increased for 2023.
Planning ahead for 2024: Should your 401(k) help employees with emergencies?
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law...
What are the tax implications of buying or selling a business?
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If you are considering buying or selling another business, it’s important to understand the tax...
The cents-per-mile rate for business miles decreases again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021...
PPP loans have reopened: Let’s review the tax consequences
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may wonder about the tax...
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
144 W 2nd St
Washington, NC 27889
Washington, NC 27889
Business Hours:
Monday-Thursday
8:00 AM - 5:00 PM
Friday
8:00 AM - 12:00 PM
Saturday-Sunday
Closed