Shocked business person and CPA

Most of my clients are taxpayers who own small businesses themselves or file jointly with a spouse who owns a small business. Some of these small businesses are organized as C or S Corporations, and the owners pay federal and state taxes throughout the year through their W-2 wages (based on their set salaries and… [Read More].

Government shutdown writte on a blue star background

The extremely tight margin of the controlling party in the House of Representatives has led to some interesting, historic, and some might say chaotic outcomes on U.S. government operations this year. Legislation involving the basic functions of our government has become significantly more difficult to pass. We narrowly avoided a national debt default this past… [Read More].

Auditor checking the accuracy of financial statements

One of the prominent areas of my legal practice is taxpayer representation—and one component involves representing clients in tax examinations (audits) by the IRS and state departments of revenue. Fortunately, most taxpayers have never had a tax return examined by the IRS. But because IRS activity is picking up, I thought it might be useful… [Read More].

Hurricane Ian Satellite Imagery

Last week, Hurricane Ian wreaked havoc upon the states of Florida, North Carolina, and South Carolina. My sincerest thoughts and prayers are with everyone who has experienced loss of life, health, property, and security associated with this hurricane and other recent disasters. Most readers of my blog are aware that I live in North Carolina,… [Read More].

business statistics

After the demise of the legislation known as “Build Back Better” and several congressional false starts on smaller packages, the 50-50 Senate has recently passed a much smaller package known as the “Inflation Reduction Act”. Now that the hard part is over (passing a bill in the Senate), the legislation has a much smoother path… [Read More].

Third Party Reporting Shock

Are you in shock about a tax notice that you received from the IRS? Do you wonder where tax notices come from? Many of them originate from the IRS’s Automated Underreporter (AUR) program. Using a taxpayer’s tax identification number (such as a social security number or employer identification number), the IRS compares a taxpayer’s filed… [Read More].

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