Because the IRS believes it can collect a lot of taxes, it is going to select 500 nonprofit organizations for payroll audits in each of the next three years (as well as a high number of for-profit companies).
Job-Tracking Adds Precision To Your QuickBooks Company
Does your business have clients whose work sometimes requires multiple steps drawn out over weeks or months, like remodeling projects or court cases?
NC Sales and Use Tax Rate Decreasing
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%.
Are Your QuickBooks Company Files Tamper-Proof?
Every month, we provide information on how to better use QuickBooks. By implementing the best methods for managing your accounting data, you can actually improve your financial bottom line.
June 30 Deadline for Foreign Bank Account Reporting
You may need to fill out Treasury Department Form 90-22.1 (PDF) every year if you own, or have an interest in, any foreign bank accounts or other types of financial accounts based outside the United States. This report is separate from your income tax return, although the two reports can be interrelated.
Nonprofit Organizations: Are You Prepared For The Unknown?
There could be a fine line between being a “rich” organization; having several months of operating reserves…
Voted ‘Best Of Chapel Hill’
The editors of Chapel Hill Magazine have announced that Blackman & Sloop, CPAs, P.A. has been selected by our readers as “The Best Accountant” in Chapel Hill.
Expanded 1099 Requirements Repealed
With the passage of the Patient Protection and Affordable Care Act and the Small Business Jobs Act during 2010, you might have heard of new reporting requirements for Form 1099.
Latest Information On Health Care Benefits Reporting
Originally, with the passage of the new health care law, beginning in 2011, employers were to report health care benefits for employees. This amount would be reported on each employee’s form W-2, but it would not affect an employee’s individual taxable income.
Do You Have A “Mr. Forfeiture” In Your Plan?
Are you part of an Employee Benefit Plan or EBP? In the following BDO Seidman article, we discuss what happens when you don’t take advantage of such plans, and how you could be forfeiting a sizable personal investment. *