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].

woman book keeping

All small business owners should have a set of books that record the business’s financial position, operating results, and cash inflows/outflows. For very small and extremely simple businesses, a spreadsheet might work. However, for the overwhelming majority of my small business clients (especially those organized as LLC’s and corporations) a spreadsheet will not cut it…. [Read More].

older man and young man having argument in office

In the past two or three years (which interestingly coincides with the Covid pandemic), I have received more frequent inquiries from clients seeking legal and tax advice regarding problematic situations among owners of multi-member LLCs. Though the specifics of these scenarios differ greatly, typically a well-drafted operating agreement could have prevented much of the dissatisfaction… [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].

Flags on Poles Near Building

Each year I provide a tax organizer document for each of my tax preparation clients to complete. It requests demographic information and answers to several questions about the client’s tax situation. These questions ask about the client’s income and deductions and seek information to determine the client’s tax reporting obligations. One question that appears on… [Read More].

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