The Cecil Legacy: A North Carolina Story About Planning Beyond the Numbers
It is easy to assume that business value is driven primarily by financial results and mathematical analysis. However, the most persuasive and defensible valuations are grounded in a coherent narrative,…
Valuation at a Moment in Time: Understanding Date-of-Death Value
For estate tax purposes, value is determined as of a specific moment in time on the decedent’s date of death (or an alternate valuation date, if elected). As laid out…
Valuation’s Role in Transaction and Exit Planning
Business owners often think of an exit, whether through sale, succession, or retirement, as a distant future event. In reality, ownership change is inevitable. The question is not if your business will change hands, but when and how prepared…
Opportunity Zones After the 2025 Tax Bill: What Investors and Business Owners Need to Know
The 2025 tax law made major changes to the opportunity zone program. The biggest shift is that opportunity zones are no longer just a fading tax incentive from the 2017…
QOZ 2026 Countdown: What to Do Now Before Deferred Gains Become Taxable
The Key Event: Mandatory Gain Recognition in 2026 December 31, 2026 is the date when deferred gains become taxable. The originally deferred gain becomes taxable in 2026, regardless of whether the investment…
Decision Time is Approaching for Qualified Opportunity Zone Investments
Since its enactment in 2017, many taxpayers have taken advantage of the opportunity to invest in Qualified Opportunity Zone (“QOZ”) investments. If a taxpayer has a capital gain, the gain…
Succession and Exit Planning: Make Sure You Can Still Say “No”
When is the worst time to sell a business? The simple answer: when you have to. The best time to sell, of course, is when you don’t have to—when the…
North Carolina IRC Conformity: Status Update
North Carolina is one of many states that have still not updated their conformity with the Internal Revenue Code following the passage of the One Big Beautiful Bill Act (OBBBA).…
Tariff Update: Refund Opportunities and What Businesses Should Know
Executive Summary Certain tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were invalidated following a Supreme Court ruling, prompting U.S. Customs and Border Protection to launch a refund…
North Carolina IRC Conformity Update: What Taxpayers Should Know Now
Executive Summary Until the General Assembly updates North Carolina’s conformity statute, taxpayers should anticipate additional adjustments, added compliance complexity, and potential filing delays. Proactive planning now can help you avoid…
Guidance for Employers on 2025 Tip and Overtime Income
Under the OBBBA (One Big Beautiful Bill Act) of 2025, employees can now get a deduction for some of their tips and overtime for the years 2025 to 2028. While…
Prepare Now: IRS to Require Electronic Refunds Starting September 30, 2025
Update: On September 25, 2025, Denise Davis, Director of the IRS Taxpayer Services Division, provided additional details regarding the IRS’ transition to electronic payments for tax year 2025 filings. Key…