What To Know About The North Carolina Tax Extension
For North Carolina taxpayers, understanding the nuances of tax extensions can be crucial, especially when natural disasters like hurricanes alter the course of normal filing schedules. In 2025, the North Carolina Department of Revenue announced a tax extension for individuals and businesses affected by recent hurricanes. This extension allows taxpayers to file their returns at […]
What To Know When Your Taxes Are Finalized
Tax season can be one of the most stressful times of the year for many individuals. Whether you’re eagerly waiting for a tax refund or trying to figure out how to handle a tax bill, understanding what happens when your taxes are finalized is crucial. Once your taxes are completed, the final steps in the […]
What Should I Do if I Receive an Audit Notice from The IRS?
Receiving an audit notice from the Internal Revenue Service (IRS) can be a stressful experience, but it is not necessarily a cause for panic. The IRS conducts audits to ensure that tax returns are accurate and comply with tax laws. An audit does not automatically mean you have done something wrong. However, it is crucial […]
Tax Planning 2024
Personal Income Tax Planning Strategies for Year-End 2024 As 2024 draws to a close, it’s the perfect time to review your personal income tax situation and implement strategies to minimize your tax liability for the year. Proactive year-end tax planning can lead to significant savings, as well as ensure that you take full advantage of […]
Common Business Accounting Calculations
No matter the type of business or industry, being able to analyze and deduce patterns is essential to discovering a business’ financial health. Here are four commonly used calculations to help internal and external stakeholders determine an organization’s ability to manage its finances. Break-Even Analysis This formula analyzes fixed costs versus the profitability a business […]
Pre-Retirement Planning Guide – Finding Purpose In Life
Step 7: Find Your Raison d’Etre What do you consider to be your purpose in this world? Few people think about their life that way. In Japan, they call it your ikigai. In France, they refer to your raison d’etre. For Americans, that roughly translates to your purpose in life or your reason for being. […]
Understanding Carbon Accounting
Also known as greenhouse gas (GHG) accounting, carbon accounting is a way for managers and analysts to measure a company’s total carbon emissions. It’s a comprehensive approach to analyze how a company uses energy for its buildings, offices, conveyances and production processes. Carbon accounting examines firsthand, secondhand and tertiary energy uses. Environmental, Social & Governance […]
2025 Projected Tax Brackets
According to estimates, inflation adjustments to the internal revenue code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics consumer price index (CPI) moderating, this increase is about 50 percent less than 2024’s inflation […]
Cash Conversion Cycle (CCC) Defined
This metric, which is also referred to as the cash cycle or the net operating cycle, looks at the time a business takes to recover its investment in inventory to eventually sell. The process starts from selling its goods, collecting on outstanding receivables or invoices, and satisfying its operating costs with the sale proceeds. It’s […]
Pre-Retirement Planning Guide – Legacy Planning
Step 6: Looking to Legacy Planning to Address Future Needs of Family How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues to be remembered as passionate and generous supporters. That is one aspect of a legacy. But perhaps the most important legacy plan […]