Drive Strategic Decisions with Business Valuations
Regular business valuations provide key insights for growth, risk management, and future planning. Here are three key takeaways: Enhancing Strategic Decision-Making: Gain insights into financial health to make informed business…
Preparing for Your Audit: A Comprehensive Guide
Preparing for an audit can seem daunting, but with the right steps, you can ensure a smooth and efficient process. Here’s a step-by-step guide to help you prepare effectively for…
What Nonprofit Leaders Need to Know About Excise Tax to Avoid Penalties
Nonprofit leaders face great responsibility, especially when understanding the legal and tax requirements involved in managing a tax-exempt organization. Specifically, nonprofit leaders need to understand excise tax related to nonprofits…
Disaster Recovery Act- Interest Relief Summary
On October 25, 2024, the NC Department of Revenue issued Directive TA-24-1. Part II allows taxpayers in eligible counties to request relief from the assessment of interest on unpaid taxes…
Tax Tips For Selling Real Estate
In 1789, Benjamin Franklin stated in a letter to a friend, “… in this world nothing is certain except death and taxes.” Over 200 years later, both of these observations seem to still hold…
Qualified Charitable Distributions – A Powerful Tool for Those Who Qualify
In today’s world of higher standard deductions and fewer itemized deductions, the Qualified Charitable Distribution (“QCD”) is a powerful tool that should be considered. For eligible taxpayers who have charitable…
How Changes to Form 5500 Rules May Affect Audit Requirements
Employers that sponsor employee benefit plans (EBPs) must ensure that they comply with federal laws enforced by the IRS and the U.S. Department of Labor (DOL). The government uses Form…
Repeal of NC Privilege License Requirement for Many Occupations
Important Information for Professionals and Businesses: Effective July 1, 2024 the North Carolina Department of Revenue (NCDOR) has repealed the requirement for certain professions and businesses to obtain a yearly…
Preparing for Tax Changes in 2025
The Tax Cuts and Jobs Act (TCJA) of 2017 made sweeping changes to the Internal Revenue Code (IRC). It lowered tax rates for individuals, businesses and families. Some provisions of…
DMJPS Named One of the 2024 Best Employers in North Carolina
DMJPS PLLC is pleased to announce it has been named one of the 2024 Best Employers by Business North Carolina. DMJPS is one of 62 North Carolina businesses to receive…
Retroactive Franchise Tax Change Brings Refund Opportunity in TN
The TN Department of Revenue has recently issued guidance on new legislation that eliminates the property measure from the franchise tax calculation and allows the department to issue refunds to…
What is “Beneficial Ownership Information” Reporting and Why It’s Important?
Beneficial Ownership Information (“BOI”) reporting is a new federal law requirement estimated to impact more than 30 million businesses beginning January 1, 2024. In general, any entity, domestic or foreign,…