News and Events

The Saver’s Credit is a valuable tax incentive designed to encourage low- and moderate-income taxpayers to save for retirement. By contributing to retirement accounts such as Individual Retirement Arrangements (IRAs) or employer-sponsored plans like 401(k)s, eligible individuals can receive a tax credit that directly reduces their tax liability. For the tax year 2025, the maximum […]

North Carolina employers, it is time to update your payroll! The Division of Employment Security (DES) has mailed the 2025 State Unemployment Tax Act (SUTA) tax rate assignments. Key updates for 2025: Make sure to update your payroll systems with the new wage base and rate to ensure compliance. If you did not receive your […]

You may have a Beneficial Ownership Report (BOI) due by December 31, 2024 or incur substantial penalties for failure to file. This process is not covered under the tax code or under any standard accounting practice; therefore, we cannot file on your behalf. While it may be worthwhile for you to engage an attorney to complete this […]

The Alternative Fuel Vehicle Refueling Property Credit is a federal tax credit that encourages individuals and businesses to install equipment that refuels vehicles using clean energy, like electric vehicles (EVs). Here is a breakdown of how this credit works and how you can benefit from it. What is the Credit? This credit lets you claim […]

Reconstructing records after a disaster like Hurricane Helene is an essential step to rebuilding your life, particularly when it comes to financial, insurance, and tax records. Losing documents can feel overwhelming, but with some guidance, you can restore what’s needed. Here are the best steps and resources to help you in the process. IRS Assistance […]

In the wake of Hurricane Helene, victims are not only facing the challenges of recovery but also the risk of being targeted by scammers. Individuals may pose as officials or contractors, offering fake services such as repairs or financial aid. Be cautious if anyone asks for upfront payment or personal information—these are common red flags. […]

Our thoughts and deepest sympathies are with all those impacted by Hurricane Helene, including families, friends, and communities. We understand there are many challenges you are facing in the aftermath of the storm, and we want to offer our support by providing you with important information on the tax relief available to help ease some […]

The IRS has an important reminder for teachers and eligible educators—up to $300 in out-of-pocket classroom expenses can be deducted from your 2024 taxes. This deduction helps educators offset the cost of materials, supplies, and other items purchased for their classrooms. Who Qualifies? If you are a teacher, instructor, counselor, principal, or aide working at […]

Protecting your personal and financial information is more important than ever. The Internal Revenue Service (IRS) offers tools to help you safeguard your tax data from identity thieves and scammers. Why You Should Utilize These Tools Identity thieves are constantly looking for opportunities to steal personal information. By creating an IRS online account and using […]

As the digital landscape evolves, the IRS has streamlined processes for businesses and self-employed individuals to file various returns electronically, including the 1099 and 1098 series, among others. This change not only enhances efficiency but also aligns with environmental goals by reducing paper use. Getting Started with FIRE To begin filing electronically, businesses must first […]