The birth or adoption of a child is a joyous occasion for a family. In addition to significant lifestyle changes there are also a significant number of tax implications. In this article we will provide you with some information that may assist you.
By now, the New Year celebrations have been drowned out by the chatter of questions concerning taxes.
The North Carolina general sales and use tax rate is scheduled to decrease from 5.75% to 4.75% on July 1, 2011. As a result, 82 counties in North Carolina will have a combined state and county tax rate of 6.75% with 17 other counties taxing at 7%.
Operating Reserves can be quite complex. The words “operating reserves” can mean many things to many different people, and the first thing that must be done is establishing the definition and the expectations of the stakeholders.
On February 1, 2010, the Treasury Department released General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (“Green Book”), which provides a description of the Obama Administration’s budget proposals affecting revenues.