Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions […]
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax deductible and whether it’s taxable to the recipient. Here’s […]
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash? 2 benefits from 1 gift Appreciated publicly traded […]
Checklist of Tax Planning Moves for Individuals The following is a checklist of actions based on current tax rules that may help save tax dollars if you act before year-end. Not all actions will apply in every taxpayer’s particular situation, but you will likely benefit from many of them. Call us at 919-841-1000 to discuss. Higher-income earners […]
We would like to thank all of our wonderful clients who made it out to our annual Client Appreciation Day last week to enjoy some delicious Clyde’s barbecue and ‘nana pudding with us! We enjoyed hosting and sharing a meal with you and we are truly grateful for your patronage.
As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this year. Be sure to evaluate the impact of the Tax Cuts and Jobs Act (TCJA), which reduces or eliminates many […]