Tax Filing Tips for 2022
Filing deadlines for the 2022 tax year are fast approaching. Several changes have occurred in the Internal Revenue Code (IRC) and IRS procedures that could affect many partnerships and other…
5 Items to Consider Before Making Your Next State and Local Tax Payment
In many cases, businesses simply pay state and local income taxes without giving them much thought. These taxes are often far less than federal tax obligations, so they are not…
Tax Time Guide: Using electronic payment and agreement options for taxpayers who owe can help avoid penalties and interest
The IRS has released a series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. Additional help is available in Publication 17, Your Federal Income…
What are the Rules for Filing a Tax Return Extension?
You may generally request an additional 6 month extension to file your personal or business tax return. Filing this extension allows more time to gather all the required information to…
CPA Firm DMJPS PLLC Raises $19,050 for Special Olympics North Carolina
One of the region’s most unique fundraising events took place on Saturday in Greensboro at Wet n’ Wild Emerald Point. The Triad Chill for Special Olympics was held on a…
6 Tips to Protect Your Business from Ransomware Attacks in 2023
Cybersecurity is a never-ending job. Hackers and other bad actors are always adapting their tactics in order to overcome the latest security measures. Businesses must then modify their cybersecurity practices…
What Is in the Consolidated Appropriations Act of 2023?
On December 29, 2022, President Biden signed the Consolidated Appropriations Act (CAA) of 2023 into law. The bill appropriates approximately $1.7 trillion for fiscal year 2023 and makes several significant…
Top 7 Accounting Best Practices for Nonprofits
Nonprofits face a lot of demands. They often have limited resources when it comes to both financial and human resources. The accounting team usually not only supports general operations but…
Developing a Cybersecurity Strategy
New Tax Law Requires Research & Experimental Costs to be Capitalized and Amortized
Effective for tax years beginning after 2021, all research and experimental (R&E) expenditures paid or incurred in connection with a trade or business are required to be capitalized and amortized…
North Carolina Withholding from Nonresident Contractors and ITIN Holder
As a new year begins, we want to remind those doing business in North Carolina of a commonly overlooked withholding requirement. General Requirements: Businesses are required to withhold North Carolina…
Single Audit Requirements for Nonprofit Organizations that Receive Federal Funds
Government funding brings some rather complicated reporting and auditing requirements. This can apply to both for-profit businesses and not-for-profit organizations (NFPs) that receive federal funding. NFPs should be aware of…