Personal Credit Card Fraud

Last week we brought to your attention the issue of credit card fraud and your business. Today, in the second part of this series, we will examine personal credit card fraud — what it is, how you can protect yourself against it, and what to do when it happens. What is credit card fraud? Credit […]

Senate Steps Up and Passes Tax Extender Bill

As we expected they might (and are glad they did), last night, the Senate passed the tax extender bill that the House passed on December 3rd.  Their vote was 76 to 16.  The House vote was 378 to 46 on December 3rd.  The bill now heads to President Obama for signature which is expected to […]

Credit Card Fraud and Your Business

We often think of credit card fraud in the personal sense.  We question, “What would I do if my identity was stolen or someone used my credit card without permission?”  There’s good reason for that.  The FTC estimates that 11.1 million of us will fall victim to personal credit card fraud this year alone.  But […]

House Passes Tax Bill Extending Some Expiring Provisions

On December 3rd, the Tax Increase Prevention Act was passed by the House of Representatives. This bill would extend some of the many expired tax deductions and credits and make them retroactive for the 2014 tax year. This bill would set them to expire again on December 31, 2014. Some of the more common expiring […]

Individual Income Tax Changes for North Carolina in 2014

In the midst of what we DO NOT know—because Congress has not yet enacted tax legislation on a number of items including the Federal favorable tax provisions that have expired as of December 31, 2013, there is one thing that we DO know. That thing is what the North Carolina Individual Income Tax law changes […]

New Details for Employers Regarding Obamacare

A new IRS Fact Sheet on Obamacare has been released and provides details to employers on some high-impact provisions of the Affordable Care Act.  For the purposes of these provisions, employer workforce size is significant.  Business owners, take note. Background Remember that, as the ACA was written, for months beginning after 12/31/13, an applicable large […]

Election 2014: What to Expect from Republican Victory

The Republican sweep of the mid-term elections has left many Americans wondering what comes next.  The GOP ran on an ambitious platform centered on taxes, trade, energy, and financial regulation, and promised an all-out war on Obamacare.  Republicans say they’re gearing up to consider a string of issues that had been blocked by Senate Democrats […]

Obamacare Business Requirements for 2015

As we roll into 2015, businesses with 100 Full Time Equivalents need to be preparing for 2015 in order to meet the requirements of the Affordable Health Care Act. Under the original 2010 Affordable Care Act, employers with the equivalent of at least 50 full-time workers had to offer health coverage or pay a penalty […]

North Carolina Department of Revenue Changes its Position on Same-sex Marriage and Filing Status

On October 24, 2014, the North Carolina Department of Revenue issued a new directive for NC individual income tax purposes related to the filing status of individuals who have entered into a same-sex marriage.  For North Carolina income tax purposes, same-sex marriages will now be recognized. For any same-sex couple who are legally married under […]

Higher Taxes Without Changing Tax Rates?

Changing tax rates tends to get a lot of media attention, the kind of attention that makes for an almost certain death for politicians in an election year.  But fear of media attention does not mean that the men and women in Washington stop trying to raise money.  To skip the battle over true tax […]