Be On the Outlook for Tax Reporting Forms
With tax season upon us, documents reporting income, sales and other items needed for your 2022 tax return should have arrived or will be arriving soon. Be on the lookout…
What You Need to Know About Converting an S Corp to a C Corp
The type of business that you’re running has major implications in virtually all areas of your operations, especially when it comes to federal taxes. An S Corporation (or S Corp…
Married? Know Your Filing Options
Married taxpayers generally have the option to file a joint tax return or separate returns, a filing status commonly referred to as married filing separate (MFS). If you are married…
Blackman & Sloop Celebrates 50th Anniversary
Founded in 1973, Blackman & Sloop is excited to announce the firm’s 50th anniversary. Blackman & Sloop will recognize half a century of serving their clients across North Carolina with…
Wonder What a Tax Deduction Is Worth?
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer…
Start Off on the Right Foot for the 2023 Tax Year
If your 2022 refund or balance due turns out not to be the desired amount, you may want to consider adjusting your withholding based on your projected tax for 2023….
What Is Business Cash Flow?
As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to the…
Tax Manager Ben Buckner Joins Blackman & Sloop
Blackman & Sloop welcomes Ben Buckner, CPA, to their growing team as a Tax Manager. In his role, Buckner will provide innovative tax planning, review complex returns, and manage staff…
The Tax Consequences of Gig Work
Over the last decade, in particular, the definition of the term “career” has changed. Rather than being employed by a single entity for which you receive a W2 at the…
Time is Running Out to Take Your 2022 RMD
Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional IRAs, but they also apply to 401(k)s and SEP IRAs. The tax…